Hey guys,
Everyone here has been great for advice in the past, so I'm here to ask a question again. I'm currently a CPA at a Big 4 in audit, and starting in their FDD TAS (transaction services) group next week, thank god. I'm looking to do about 2-3 years in TAS while the wife is in grad school and then I want to get the fuck out of Big 4.
My goal is to land a corporate development gig at a tech firm out west. I've found a couple guys who have moved over to similar places from FDD groups at Big 4, but they seem to be higher up (managers/directors). I have a 760 GMAT and wouldn't mind spending a couple years at an MBA, but is it a reasonable expectation to think I could move straight into corp dev post-MBA? I'd rather not do IB when I'm pushing 30 (will be by that time), but after reviewing Google/Amazon/Microsoft's job postings, they seem to favor management consulting firms and "tech-focused investment banks."
Thanks for taking the time.
Im not too familiar with the post-MBA recruiting process but I was able to interview for a few different corp dev associate roles during my MSF. Most companies prefer IB experience, but there are a few that took at look at me with no prior FT experience of any kind, just internships.
Usually when your looking at job postings, they list out their ideal candidate, which usually includes a laundry list of checkboxes that describe this fictional incredible candidate. In reality, if you had the same resume/skills as the "ideal candidate" you would have a lot better options than working for that firm, in that role. Thats why if you can meet 17 out of 18 of the requirements, and the only one you dont have is "2 years exp. in tech IB or consulting" then why wouldnt they give you a chance?
MBA to IB to Corporate Development (Originally Posted: 05/15/2007)
I'm enrolling at an M7 this fall, and ideally want to do corporate development (non-sales business development). Is IB out of school necessary to land a good corporate development position, or can that be done directly from MBA recruiting?
I'm coming from Big 4 experience, where currently a manager (5 years experience). CPA and CFA held if that matters.
Have a couple of friends that have gone into corporate development. 1 from PE and the other straight out of Columbia MBA...Other ideas include PE, Mezz at either large or boutique shops...
I worked in CD for two years at a fortune 500 company. You definitely don't need IB. In fact, my boss there hated bankers (mostly because he had to pay them to do jobs) and thought that people with Big 4 background were golden.
That being said, what's most important is your technical experience. As you may know, the two main industries that use, Pharma/Healthcare and Tech, are very technical industries. About half of the people in Pharma CD (where I worked) had advanced degrees in the medical field. I know that some companies put even more emphasis on this and their CD people are actually former doctors and PhDs. The truth is, bankers don't end up digging nearly as far into the details as the CD people. What I found was that bankers would give us information (given to them by the bankers representing the seller) and then we'd have to do the entire workup on it.
However, if you don't have the industry experience, it may make sense to work in IB for a bit to get at least exposure to the industry. Also, I'm not sure about other CD groups, but ours was only composed of about 6-10 people with only 2-3 spots available for junior level people (and we only had an open spot every 2 years). That means that you're looking at a very small job market that probably doesn't recruit actively on campus. As a result, working in IB may make sense so that you can meet the CD people, network with them, and then ask them to bring you over to their side.
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