Going to IB from Corp Dev

Based on the most helpful WSO content, transitioning from corporate development (Corp Dev) to investment banking (IB) is challenging but absolutely possible, especially if you're consistently working on deals. Here’s a breakdown of your situation and actionable advice:

1. Lateral to Boutique IB After a Year

• Yes, you can lateral to a boutique IB after a year of Corp Dev experience, especially if you're actively involved in M&A transactions. Bankers value deal experience, and if you can demonstrate strong technical skills and a solid understanding of the deal process, you’ll have a shot.
• Networking will be critical. Many lateral hires happen through connections rather than formal applications. Start reaching out to bankers at boutiques and middle-market (MM) firms, emphasizing your deal experience and willingness to grind.

2. Concerns About Intensity

• While some bankers may perceive Corp Dev professionals as less accustomed to the intensity of IB, you can counter this by highlighting your previous IB and PE internships. Make it clear that you’re familiar with the long hours and demanding nature of the job.
• Focus on showcasing your ability to handle multiple deals simultaneously and your eagerness to return to IB for the fast-paced environment.

3. Siloed into Financial Services IB?

• While your current role at a PE-backed wealth/asset management firm might make financial services IB a natural fit, you’re not necessarily siloed. The key is to position your deal experience as transferable across industries. Highlight the technical skills and deal processes you’ve mastered, which are applicable to various sectors.

4. Networking Strategy

• Start networking immediately. Reach out to alumni, former colleagues, and professionals in boutique and MM IBs. Use LinkedIn, cold emails, and informational interviews to build relationships.
• Attend industry events and conferences to meet bankers in person. Consistent networking over 3-6 months can significantly improve your chances of landing a lateral role.

5. Resume and Deal Experience

• Ensure your resume emphasizes your deal experience, technical skills, and previous internships in IB and PE. Quantify your contributions to deals (e.g., “Supported the acquisition of a $50M company by conducting financial modeling and due diligence”).
• If possible, take on additional responsibilities in your current role to broaden your experience and make your resume stand out.

6. Alternative Pathways

• If you find it difficult to lateral directly to IB, consider roles in valuation, financial advisory services (FAS), or Big 4 transaction advisory services (TAS). These roles can serve as stepping stones to IB.

Final Thoughts

Your prior internships in IB and PE, combined with deal experience in Corp Dev, give you a solid foundation to make the move back to IB. Focus on networking, building your deal sheet, and demonstrating your readiness for the intensity of banking. While it may take time and persistence, many have successfully made this transition before. Keep grinding, and you’ll get there!

Sources: Boutique IB offer vs. stay non-big 4 TAS, https://www.wallstreetoasis.com/forum/investment-banking/do-i-stand-a-chance-in-investment-banking?customgpt=1, Breakdown of Post-IB Exit Opportunities, CorpDev to PE prospects - creating a long-term map / success stories, Q&A: Non-target >>> Big 4 Valuation >>> Boutique IB Analyst