Getting back into IB from Corp Dev

Jumping back into IB from Corp Dev is definitely possible, but it requires a strategic approach. Here's what you need to know based on the most helpful WSO content:

1. Is it possible to return to IB?

   • Yes, transitioning back to IB from Corp Dev is feasible, but it can be challenging. The key is to leverage your prior IB experience and highlight the transferable skills you've gained in Corp Dev, such as M&A execution and strategic planning. However, note that elite/BB banks may be less receptive without recent IB experience, so targeting MM or boutique firms might be a better starting point.

2. How long should you wait before trying to exit?

   • There's no strict timeline, but the sooner you make the move, the better. Spending too long in Corp Dev might make it harder to re-enter IB, as firms often prioritize candidates with recent IB experience. Ideally, aim to transition within 1-2 years to maintain relevance.

3. What kind of firms would be most receptive?

   • Middle Market (MM) and boutique investment banks are generally more open to candidates with non-traditional paths. These firms value hands-on deal experience, which you likely have from Corp Dev. Networking is crucial here—leverage your connections from your previous IB stint and your current role.

4. What level should you target?

   • Given your prior IB experience and current Corp Dev role, targeting an Analyst or Senior Analyst position is realistic. If you can demonstrate strong deal experience and technical skills, you might even position yourself for an Associate role, especially at smaller firms.

5. Would PE remain an option if you get back into IB?

   • Yes, PE could still be an option if you return to IB. However, the path to PE typically favors candidates with a continuous IB track record. If PE is your ultimate goal, focus on re-entering IB at a firm with a strong deal flow and a history of placing analysts into PE roles.

Additional Tips:

• Networking: Reconnect with former colleagues and alumni in IB. Personal recommendations can significantly boost your chances.
• Skill Refresh: Brush up on technical skills, financial modeling, and deal execution to demonstrate you're ready to hit the ground running.
• Storytelling: Craft a compelling narrative about why you're returning to IB, emphasizing your passion for the field and the skills you've honed in Corp Dev.

While the journey back to IB might not be easy, with the right strategy and persistence, it's absolutely achievable.

Sources: Breakdown of Post-IB Exit Opportunities, Breakdown of Post-IB Exit Opportunities, corporate development regrets?, Exiting from Corporate Development, Investment Banking to Private Equity - 6 Things You Should Know