Corp Dev or continue doing IB

Based on the most helpful WSO content, here’s what you need to consider for your decision:

1. Investment Banking (IB) Associate Role:

   • Staying in IB, especially with better compensation, keeps you on a traditional path toward Private Equity (PE). PE firms in SEA and globally often prefer candidates with IB experience due to the deal exposure and financial modeling skills.
   • However, if the toxic culture at your current firm has been a significant issue, ensure the new boutique firm has a better work environment. Toxicity can hinder your performance and long-term career satisfaction.

2. Corporate Development (Corp Dev) Role:

   • The Corp Dev role at a large tech group offers exposure to capital markets (IPO, fundraising) and M&A, which are relevant skills for PE. However, transitioning from Corp Dev to PE is generally more challenging compared to IB. PE firms often prioritize candidates with IB or consulting backgrounds.
   • If the tech group is highly reputable and the role provides significant deal experience, it could still be a viable stepping stone. Additionally, Corp Dev roles often offer better work-life balance compared to IB.

3. Your Goal: PE → MBA:

   • If your ultimate goal is PE followed by an MBA, the IB Associate role is likely the safer bet. It aligns more directly with PE recruiting preferences, even in a tough job market.
   • Corp Dev could still work, but you’d need to heavily leverage networking and demonstrate strong deal experience to make the jump to PE. This path might also make an MBA more critical for transitioning to PE.

Recommendation:

If you can tolerate the IB lifestyle for a few more years and the new boutique firm has a better culture, the IB Associate role is the more straightforward path to PE. However, if work-life balance and escaping a toxic environment are top priorities, the Corp Dev role could be a good alternative, provided you’re ready to network aggressively for PE opportunities later.

Ultimately, weigh the culture and growth opportunities at both firms, as well as your personal tolerance for the IB grind.

Sources: Corporate Strategy vs Corporate Development, Breakdown of Post-IB Exit Opportunities, corporate development regrets?, Life after 2 years in Private Equity