In a CB type group, more focused on underwriting and execution of credit facilities rather than relationship management driven. Interested in Corp dev for a long term career, has anyone seen this move occur often? Not a lot of data points from my current firm
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Based on the most helpful WSO content, transitioning from Corporate Banking (CB) to Corporate Development (Corp Dev) is not a common path, but it is possible with the right approach. Here are some key insights:
Skillset Alignment:
While CB roles focused on underwriting and execution of credit facilities may not directly overlap with Corp Dev's M&A and strategic focus, there are transferable skills. These include financial modeling, deal execution, and understanding of capital structures, which are valuable in Corp Dev.
Networking is Key:
Networking plays a crucial role in making this transition. As highlighted in WSO threads, Corp Dev professionals often engage with banks, PE firms, and institutional investors. Leveraging your existing relationships and building new ones within these circles can help you position yourself for a move.
Storytelling:
You’ll need a compelling narrative to explain why you want to transition to Corp Dev. Highlight your interest in strategic decision-making, M&A, and working on the buy-side of transactions. Emphasize how your CB experience has prepared you for this shift.
Targeting the Right Companies:
Focus on companies with active M&A pipelines or those known for strong Corp Dev teams. Headhunters and job postings for roles like "Senior Financial Analyst" can also be a good entry point into Corp Dev.
Challenges:
The move may be challenging because Corp Dev groups often prefer candidates with investment banking or MBA backgrounds. However, with strong networking and a clear value proposition, it’s possible to overcome this hurdle.
Lifestyle and Career Progression:
Corp Dev offers better work-life balance compared to banking, with typical hours ranging from 40-60 per week, though deal weeks can spike to 80 hours. Career progression can vary significantly by company, with some offering clear paths to leadership roles like CFO or Corporate Strategy leader.
If you’re serious about this transition, focus on building your M&A knowledge, networking aggressively, and targeting companies where your CB experience can add value.
Sources: Corporate Strategy vs Corporate Development, Corporate Development: My Experiences and Background, Breakdown of Post-IB Exit Opportunities, Q&A: Corp Dev Professional at Large-Cap Tech Company
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