IB has a lot of tiers and stuff associated with it and I know CorpDev is super fragmented and mostly vanilla across firms in the prestige lense. But let's say you recieved a CorpDev offer from a company like Google or Apple. What is that equivalent in IB terms? Up to what bank/tier would you take CorpDev with an acquisitive F100 or F50 over?
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Based on the most helpful WSO content, here's what you need to know:
When comparing a CorpDev offer from a highly acquisitive F100 or F50 company like Google or Apple to Investment Banking (IB) roles, it's essential to consider several factors, including prestige, compensation, and career trajectory.
Equivalent in IB Terms:
Decision Factors:
Summary:
This comparison should help you weigh your options effectively.
Sources: https://www.wallstreetoasis.com/forum/corporate/qa-non-target-2x-sa-at-bb-fintech-corp-dev-corp-dev-at-a-large-company?customgpt=1, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, The Other Road: Corporate Development Associate Fielding Questions, Q&A: Deloitte S&O -> F500 Corp. Strategy -> M7 -> MBB, Q&A: Corp Dev (F500) with a non-traditional background and b school
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I'll tell you my experience with mega cap tech corp dev. I'm sure the pay is fantastic, its awesome to have equity and pretty nice flex to say "I'm a director at Google" or whatever. The reality is that most product lines have their own corp dev people and generally, you are a gatekeeper and execute. The real decisions are made by the product guys.
I would rather be corp dev / strategy at an aggressive sponsor portco.
Ok so then you're at a well known portco with an acquisitive corp dev team. What would be the "Strike price" you would take that over IB?
My question I'm trying to figure out is where do "top" CorpDev roles land in terms of IB?
You're trying to "bschool" this lol. It really depends on what your priorities are. Do you want to make bank? Is the logo on your business card and/or title on LinkedIn more important? Do you want to be an operator or what is the endgame?
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This just isnt the right way to look at the situation at all OP. No offense, but this reads like it was written by a sophomore in college who uses prestige as the primary unit of measurement for what a good job looks like.
I am not going to opine on if a Corp Dev role at Apple is >= to an Associate IBD role at MS, but I will say that if you drop your ego aside, these are some extremely exciting roles. Obligatory no I don't work in FAANG Corp Dev, or even something perceived as equally sexy (e.g., Tesla, Nvidia, etc.), but I do have a handful of friends in my rolodex with similar roles.
Look, if you want to work for an industry leader and be on the forefront of hand selecting which companies you think will be innovators in the years to come, you should consider these opportunities. For some, total comp is the ultimate driver, and the money is likely (not guaranteed) to be better on a more conventional PE track. But for those interested in making some of the most meaningful acquisitions (FBs acquisition of Instagram level deals), these opportunities are really exciting. These massive companies are industry leaders who have a strong pulse on industry trends and tailwinds, and have the capital to take risks that could actually alter the trajectory of entire industries, not just company.
But no, for sure, prioritize prestige so you can work as a sell side slave to be able to wear the prestige of a stupid Goldman Sachs logo or so you can tell the various 3s you talk up at a bar that you work in private equity. Just make sure to omit the fact that you work at a sub 500M AUM fund focusing on LMM agricultural technology and education software.
Focusing on prestige is for the insecure, the unself aware, and those who haven't really entered the work place yet. The guys who work prestigious jobs are either doing it for other valid reasons (maybe they crush it at a top bank / fund, maybe they prioritize the salary and safety net, maybe they have a really strong culture, etc.), but if they are doing it for the sake of prestige, I doubt they last.
Before you get my POV twisted, I have the utmost respect for the brilliant guys and girls working at top banks and funds, and can't imagine the sacrifices they made to get there. But if they are only doing it for prestige, 1) I doubt they last and 2) that respect dissipates immediately.
I hate when people "take the high road" in response to very simple questions.
In terms of competitiveness and career positioning (i.e. prestige) would you rather do corp dev at a megacap or be in IB at GS/MS/JPM? It's a really simple question that doesn't require an essay about why that's the wrong question. Careers go over 40 yrs, and when people talk about "prestige" what they generally mean "what opens doors?"
Of course, whenever someone asks a question about corp dev we have to put up with quotes like this:
"But no, for sure, prioritize prestige so you can work as a sell side slave to be able to wear the prestige of a stupid Goldman Sachs logo or so you can tell the various 3s you talk up at a bar that you work in private equity. Just make sure to omit the fact that you work at a sub 500M AUM fund focusing on LMM agricultural technology and education software."
You just sounds salty here.
I think you are missing the overarching point here that this isn't a black and white scenario. So many factors go into choosing a job and asking people "what bank they would take over F100 Corp Dev" isn't a question with enough context to get productive responses. For most people deciding what job to choose the "prestige" is likely less important than pay, WLB, team and the work itself. All in all, trying to compare IB tiers to Corp Dev tiers is apples to oranges.
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