Hey guys. I’ve read a lot about the common paths out of banking, such as the buy side and even corp dev, but nothing at all about the route to the C-Suite. What’s a typical or suggested route for someone starting out in banking and ultimately wants to end up as an executive? I’ve heard Corp dev is more limited with exit ops, so would there be another route within a company to take?
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I'm in my last year in a Fortune 200 company before I start IB. We hired a Chief Transformation Officer a couple of years ago who is now President, who started as an analyst on Wall Street. After a few years, he went back to school for his MBA and then went to a different Fortune 200 company, starting as a Product Manager (not a PM in the software sense, but more functional products). He then moved up through the Strategic Business Development group and was eventually asked to lead a subsidiary. My company then poached him, and he is now next in line to be CEO.
All that to say, I believe Product Manager roles are excellent opportunities. You won't get paid nearly as much as you do in IB, but you are the point person for how products move from the supplier to the end-user. You work with many different departments at headquarters, plus the field teams (and suppliers). Some companies will also call this role "Category Manager." PM/CM roles can be a great stepping stone for further responsibility in a big company.
CorpDev / Finance / Strategy -> BU GM -> CEO / COO
“Founder / Co-Founder & {insert C-Suite letters}” of a venture-backed startup
CorpDev / Finance / Strategy -> Finance Leadership -> CFO
CorpDev / Strategy -> VP CorpDev / Strategy
CorpDev / Strategy (or straight / MBA) -> Product (in an industry with PMs) -> Product Leadership -> BU GM -> CEO
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