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Career Resources
Based on the most helpful WSO content, here’s what you need to know:
Exit Opportunities to Corporate Development:
Investment banking is a strong launchpad for corporate development roles. Completing a 2-4 year stint in IB, especially in M&A-focused groups, will provide you with the deal experience and skill set that corporate development teams value. Many ex-bankers transition into corporate development roles with better work-life balance and comparable six-figure compensation. If corporate development is your ultimate goal, the IB route is highly effective.
Hours in MM IB in Smaller Cities vs. NYC BB:
While middle-market (MM) investment banks in smaller cities like Charlotte, Houston, or Dallas may offer slightly better work-life balance compared to NYC bulge brackets (BB), the difference is not drastic. MM IB hours can still range from 60-80 hours per week, with occasional spikes during live deals. However, smaller cities often come with a lower cost of living and potentially a more family-friendly environment, which could align with your plans to start a family.
Are the Exit Opportunities Worth It?:
If you’re committed to transitioning into corporate development, the 2-4 years in IB can be worth the effort. The experience will not only make you a competitive candidate but also provide you with a strong professional network and financial foundation. However, consider the opportunity cost, especially given your age and family plans. If the hours and lifestyle of IB seem too demanding, you might explore alternative paths like direct entry into corporate development or roles in Big 4 Transaction Services, which can also lead to corporate development.
City-Specific Considerations:
Ultimately, the decision depends on your tolerance for the demanding IB lifestyle and how it aligns with your long-term goals and personal priorities. If you’re set on corporate development, IB is a proven path, but it’s not the only one.
Sources: Corporate Strategy vs Corporate Development, Corporate Development Manager - Q&A, Exiting from Corporate Development, Breakdown of Post-IB Exit Opportunities, The Other Road: Corporate Development Associate Fielding Questions
A 35 year old stub MBA ASO0 is a bit on the older side but doesn’t seem to be a concern, especially if you are using it as a career / NW accelerant for a couple of years before moving to corporate.
As for the MM IB in T2/T3 city vs. T1 BB idea, I feel that the former may have better / close-knit culture and definitely better CoL for savings but don’t really think there would be a material difference in hours. However, if you are looking at LMM IB in those cities for below-Street pay that may be doable - I wouldn’t recommend or worry about that since this seems to be a post-MBA career rebrand before pursuing corporate for you. Think it would be wise to focus on getting the best offer that you can get and filter for any excessively toxic or sweaty cultures
MBA career switcher here, similar story. Hit the desk mid 30s and was planning to start a family soon after. I started out in a VHCOL major city (NYC/SF) and eventually transferred offices to one of the smaller cities you mentioned. It was the best decision I made.
1. Hours slightly less but imo the biggest difference is the types of people attracted to those MM cities. It’s still investment banking and hours are still long, but at my firm people seem to be genuinely more family oriented. Way fewer jerks. They want to get their work done and go home to their families which I appreciate. Work is more efficient, less useless comments.
2. Exit ops haven’t been too focused on, but I’m still getting cold outreach from head hunters FWIW
My biggest piece of advice ignore the noise. This forum is full of either folks trying to break into the industry right out of college or in college and are in a completely different life stage than someone in your 30s. Also same can be said for your MBA program. I was one of the older people in my program and it’s easy to get lost in the prestige of NYC BB bs but you gotta do what’s best for you and your family.
Thanks, this is very helpful!
Are you planning on staying in IB long term? Or exiting for family purposes?
Plan is to do another year, collect another bonus and reevaluate from there. That being said I’m still keeping in touch with my network and trying to make connections if I need to leave
Hi, may I ask what your background was pre-IB and why you decided on IB? What kind of exits are you interested in and would you stay in banking? I'm an incoming MBA student want to better understand what's out there post MBA/IB
Tech and with bonus IB was the only recruiting path that justified ROI of doing a FT MBA. Downside of doing your MBA older is the opportunity costs are higher. Regret not doing consulting because I find the work way more interesting
Thanks - also coming from tech background and deciding between IB vs consulting. What interests you more about consulting?
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