Exit Opportunities from Corporate Banking
Was curious for those that left Corporate Banking/Credit Solutions/Corporate Lending - is it possible to access similar careers/resets similar to that in IB (minus PE + HF)? I found a few threads from the past but nothing too material.
For example, would a jump to strategic finance or biz ops at a startup, or even a jump into Strategy consulting, be feasible? I know some have made the jump into IB after some time in CB, but curious what might be possible after getting a skillset from a debt/credit perspective and if this may carry over to some of the broad exit opportunities one would get from Investment Banking.
I did 4 years in CB and interviewed for several strat fin / CD / IR roles throughout my tenure. Consulting is definitely possible, especially RX and financial consulting. I was hit up for these roles.
Thank you for this. Did you make any progress in the strategic finance/Corporate Development roles? I was thinking the Corp Dev gigs would be more reserved for those in IB but if it's possible from CB/being on the debt/lending side that is very helpful to hear. Did you make the jump from CB to PE?
Not really, had a few go a couple rounds, but frankly I wasn't that interested in those roles. A lot of CD groups are open to someone with a CB background. More of a game of finding the right one and conveying strong interest imo. I went from CB to the liquid credit arm (lev loan and HY investing) of a PE fund
Contact of mine was CB for 7 years, moved to ER (to cover banks) as jr analyst - got promoted to MD within 5-7 years and has been analyst for 20-25 years….was good switch but he took pay cut to get into ER.
To be completely honest, not all, but a great deal of individuals in strategy/startups/operations/etc. don't really understand the differences between IB and CB to a great extent. Moreover, it was not difficult to receive offers for those roles. When I was looking to exit CB, I had offers to work as an FI Analyst at a HF, an IB Associate, Associate at a Direct Lending Shop/Credit Fund, RX Consulting, a Strategy Role at a Series C Startup, and Head of Finance at a Series A startup; however, if I, or my colleagues, had pursued the more traditional finance exits, such as PE/VC/Equity Seat at a HF, that is where we would have felt a great deal more of the difficulties of coming from a CB background as opposed to an IB background. I personally found it very difficult to get PE/VC/Equity Analyst looks back when I only had CB experience. Just my two cents!
This is very helpful. So you think aside from the traditional high-finance exits, strategy consulting, Biz Ops/Strategic Finance/other startup type roles, and even Corporate Strategy roles are obtainable from a few years in Corporate Banking? I'm sure the combination of strategy/startup & CB could result in breaking into VC down the line, just may take a bit longer to get there.
Do you think Corporate banking groups ar TD and Santander will be relevant for recruiting for PC?
(Reply to comment above)
Do I think strategy consulting/strategic finance/startup roles are obtainable from CB? Without a doubt. One caveat I will add however is that most of my colleagues and I waited until we had received a promotion to recruit externally. Unlike "high-finance" roles, that purely want to see that you went to a target school/BB IB group (and actually view it as a detriment/indicator you couldn't land a quality exit opportunity if you waited until associate), external non-"high-finance" roles are more favoring towards someone who has actually shown the capability for advancement and has been promoted already (especially if your promotion shows you've managed other employees more junior to you).
Yes, I am sure the combination of CB + Strategy Experience could land you a VC role; however, so could a thousand other combinations - CB is not the ideal background for VC/PE/Equity Analyst roles is all I am pointing out. I think it is all about how you draft your resume, shape your story, and handle interviews.
Does anyone think Corp Dev is possible from Corporate Banking?
I can add some color here having done CB, then IB, and now working for a special sits credit fund:
Feel free to reach out if you have more qs, there isnt too much CB info on here.
Thank you for this! Just sent you a PM.
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