Q&A: Corp Dev
Have enjoyed this site and found it very helpful since graduating college and having no clue what I wanted to do, wanted to give back a little with a Q&A. I have noticed a lot of anti banking posts and wanted to shed some light on an exit opp/other opportunity where you can still do deal based work.
I came from what has been described on this site as a "Super Non-Target" school. We maybe sent 5 kids a year to wall street and had no real career services.
After graduating I went to one of the big wire houses in their wealth management division (MS// ). After passing my licensing exams I quickly learned this was not at all what I wanted to do, this is when I discovered WSO. I spent everyday for an entire year reading every forum out , IB, , PE, RE, and , finally deciding deal based work was where I wanted to land.
My next step was to reposition my career, after networking it was apparent an MBA would be the pivot I needed. I applied and was accepted to a top 30 MBA program. I once read on this site that an "MBA is a 2 year vacation and networking event", I took this to heart and spoke to anyone who would listen.
I ended up doing a fall internship in PE at a search fund. Luckily the founder took a liking to me and gave me incredible exposure. This was my first real deal based work experience, the light bulb turned on and I knew this is what I wanted to do long term.
Fast forward to the end of my MBA program and I had secured a full time roll in M&A consulting at a Big 4 firm. This was an awesome experience and taught me a lot about how to think and really improved my excel and ppt skills. Although many people will tell you that consulting is great hours and decent pay, I did not experience that. I was easily working IB hours and getting paid public accounting money, not a good combo.
After doing my stint there I decided going to a large IB for more of the same in terms of hours was not what I wanted to do. I decided to go to a small regional IB thinking hours would be better. Although the hours were better, the firm was an absolute joke, no deal flow at all and I spent all my time doing nonsense regulatory consulting work the firm also offered. After the second day I saw the writing on the wall and decided to start applying elsewhere. This was right when COVID kicked off so needless to say no one was hiring. It took me six months to get out of there and laid a Corp Dev role.
My first CD role was with a tech company on the east coast, publicly traded with about 60k employees. I instantly fell in love with CD. It is the kind of job where you are doing thoughtful and impactful work right away. I was early in my career but had facetime with the CEO/CFO/Heads of Businesses on a daily basis. CD allows you the ability to work on deals but also really learn and understand a company well. In terms of comp I would say base is on par with the respectivetitle but the bonus is not even comparable. Hours wise it really fluctuates, if you are on a deal expect to work IB esk hours, when you are not on a deal or working on less time sensitive projects you can easily work anywhere from 15-40 hours, yes there were weeks I clocked 15 hours of actual work. Recently moved on from that company and went to another company. Gonna speak less about that one for anonymity sake.
Happy to answer any questions you all may have!
Thanks for reading!