IB -> eventual Retail Career Path?
Hi everyone! I will be a first year analyst in an IB coverage group upon graduation and I've been thinking about where I eventually want to end up in 10 years. Obviously very difficult to say what things will look like down the line but I am particularly interested in eventually working at a larger consumer/retail firm and was wondering if you guys have seen any similar career paths of people who start out working in IB and eventually transition to retail down the line. I'm interested in things like corp dev, strategy, etc and was also wondering what types of roles former bankers end up in at these firms.
My banking group is not related to consumer/retail but hopefully it will not be a pigeonhole. Thanks in advance!
Hey there! It's great to see you thinking ahead about your career path. From my experience, it's not uncommon for folks to transition from investment banking to roles in larger consumer/retail firms. The skills you pick up in IB - financial modeling, strategic thinking, deal experience - are highly transferable and valued in the corporate world.
In terms of the roles former bankers end up in, it varies quite a bit. Some common ones include corporate development (where you'd be working on M&A and strategic initiatives for the company), strategy (which could involve long-term planning and competitive analysis), and financial planning and analysis (FP&A, which involves budgeting, forecasting, and supporting business decisions with financial data).
As for your concern about your banking group not being related to consumer/retail, it's not necessarily a deal-breaker. While having industry-specific experience can be helpful, the skills and knowledge you gain in IB are generally applicable across industries. Plus, you can always make a point to learn about the consumer/retail industry on your own time.
Remember, the path from IB to the corporate world isn't a straight line, and everyone's journey is unique. Keep an open mind, stay curious, and don't be afraid to take some calculated risks along the way. Good luck!
Sources: A Guide for Switching From Commercial Banking to Investment Banking, Why is banking becoming more competitive?, Here's why Investment banking is the best career path ?
Kinda off topic but doesn’t corp dev for consumer firms pay the least?
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