Corp dev offer (advice on leaving banking)

Hi all, I have been at an IB firm for about ten months now and am four months out from bonus. Was recently offered a Corp Dev analyst role in NY for a base similar to what I get paid now. Ultimately want to be an investor one day and while it's probably best to do this from banking, I do not think I can put up with the lifestyle for that much longer and definitely do not want to still be in this job post bonus.The role isn't in the industry I want to be in but it's a high impact role doing M&A and partnerships and is interesting. My only issue is it sounds like on average it's still about 9-9. While I want to get out of banking due to the hours & commitment, is this much better and a lot higher than normal for Corp dev? Part of me wants to try to secure something better but it's incredibly hard to interview out of IB/the market is difficult right now and feel like this could help me get to VC/Growth equity/keep doors open non traditionally if I still want to pursue investing later on.Ultimately really conflicted on if it's worth jumping to a gig that's still 9-9 on average or if I can probably land something with better balance over the next few months in NY. 9-9 is still a whole lot better than what I have now but again not sure if this is standard and was ultimately looking for something where I'd have my evenings some times

Has anyone dealt with a similar decision, have an advice, or know if this is a normal expected commitment for this type of role?

Comments (8)

analystfirstyear, what's your opinion? Comment below:

Corporate dev hours fluctuate a ton depending on the company. I interned in corp development at an industrials company a couple years back, and the senior analyst would work 830am-7ish pm, only stayed late on a Friday if we were close to closing an acquisition, and put in some light weekend hours here and there.

  • 1
  • Incoming Analyst in IB - Cov

Definitely helpful. Does anyone else have any input on hours or if this trade off is worth making with the 9-9?

  • Analyst 2 in IB-M&A

What's the total comp and progression? 9-9 feels much better than working banking hours but it is still a relatively high amount of hours if you're taking a steep pay cut.

  • Incoming Analyst in IB - Cov

Total comp sounds pretty good, I have less than a year of IB experience and it's about the same base wise with a 10% bonus. It's really just the hours that kind of make me think twice about it given I am looking for some more balance, but definitely a material improvement + no weekends.

  • Analyst 2 in IB-M&A

Do you have any significant debts (i.e., student loans) that a bonus would help materially improve your financial situation? Assuming this is NYC, you can live fine on your base but of course saving meaningfully will be tougher without having large bonuses coming in each year so the importance of your bonus this year depends on how much you really need it. 

  • Incoming Analyst in IB - Cov

I am fortunate to be all paid off now which is really lucky and great so I don't need the bonus. I think it's really coming down to the hours for me right now and if I can get the same gig or similar in NY with less hours without any trouble over the next few months. I really do want to get out of banking but it's not perfect being the hours but it's also really difficult to get out of banking with the hours

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  • Associate 3 in IB-M&A

Corp dev to VC/GE is not a common path unless you are at FAANG or high-growth startup, the skillset is very different. I wouldn't go into this expecting your next role to be one of those. Have seen moves to small PE firms out of CD seats, but most people stay in CD or a similar function.

9-9 also sounds like long hours for your average CD job. If that's the sticking point maybe find a less acquisitive company where the CD function is more strategic instead of constant M&A work.

  • Incoming Analyst in IB - Cov

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