Going to IB from Corp Dev
Hey all — I'm a graduating senior at a non-target. I unfortunately didn't get a return offer from my IB internship last summer at a reputable bank. I struggled for months to land a FT job but finally got something at a PE backed wealth/asset management firm doing corp dev. In all honesty, the comp is not great but the company is very acquisitive, so there's no question I'd be doing deals, and it's in a relatively LCOL city.
I would like to get back to IB as quick as I can, but I've read it's tough to go from corp dev to IB, because bankers think corp dev folks can't handle the intensity. If I'm doing deals consistently is there a chance I could lateral to a boutique IB after a year of work experience? Also would I be siloed into financial services IB? I'm ready to put my head down and grind for a year to get some deals on my resume but also want to be doing some networking on the side with bankers for FT opportunities. I've had multiple internships across both PE and IB, and I'm fine with the long hours that come with IB. Would love to hear thoughts from anybody who has gone from corp dev to IB or IB to corp dev and back to IB. Thanks.
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
2. Concerns About Intensity
3. Siloed into Financial Services IB?
4. Networking Strategy
5. Resume and Deal Experience
6. Alternative Pathways
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
Have done both directions. You definitely can make the move but be prepared to start as a first year analyst. They are already have some attrition and look to fill the spots with experienced people willing to take an analyst spot. Would start networking now with the right people so they can keep you on their radar.
Don't let the averages apply to you, because they absolutely don't.
It may be true that most CD people can't handle the intensity of IB. But those same people also can't handle the intensity of coming home from work and putting in the time to prep/apply/network/etc to lateral into IB. In fact they probably mostly aren't even interested in making the switch after getting settled into their life in CD.
So among the few that are actually hell bent on doing it, the hit rate is high. I've seen a few people do it, and I don't know of any that tried and failed.
So just decide now, it's going to happen and it's just a function of how long its going to take because it's going to take a certain amount of effort to get there. Networking is fine but you can also let the application process be your networking. Every interview you do, you'll meet people and grow your network.
Just be prepared to go to an MM or satellite office, I’ve found these to be much more open to corp dev laterals.
Yeah I'm prepared to lateral to a boutique bank that focus on FIG. I'd eventually like to get to an HL/Jef/Gugg. tier bank but know I may need to work as an analyst at a smaller shop for at least a year.
That’s def possible if you’re sharp, just may take 2-3 years. Sorry abt the no offer, I was in a similar position, but who knows you might really like this new job and decide ibs not for you
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