SA IB -> Strategic Finance -> M&A | What’s next?

Based on the most helpful WSO content, here's a breakdown of your options and considerations:

1. Staying in Corporate Development

• Pros: Corporate development offers a clear path to senior roles like Director, VP, or Head of M&A. These roles can lead to significant compensation, especially at larger companies. For example, VP roles in corporate development can yield total compensation in the range of $500K-$800K annually, with a better work-life balance compared to PE or IB.

• Cons: Promotions in corporate development can be slower due to low turnover. To expedite progression, you may need to lateral to other companies for higher roles.

  Key Tip: If you stay in corporate development, focus on building deep expertise in healthcare M&A. This specialization can make you a highly sought-after candidate for senior roles within the industry.

2. Transitioning to LMM PE, Family Office, or Investing Roles

• Pros: Your healthcare IB and corporate development experience, combined with exposure to high deal volume (20-30 acquisitions/year), positions you well for roles in LMM PE or family offices. These roles often value operational and strategic insights, which you’ve gained in your current and previous roles.

• Cons: Breaking into PE without an MBA or prior IB associate experience can be challenging. Additionally, PE roles often come with longer hours and higher stress compared to corporate development.

  Key Tip: If you’re targeting PE or investing roles, networking is critical. Highlight your transaction experience and healthcare specialization to stand out.

3. Pursuing an MBA

• Pros: An MBA from a top program can significantly broaden your exit opportunities. It can help you pivot into PE, VC, or even higher-level corporate development roles. Post-MBA, you could re-enter corporate development at a Senior Manager or Director level, accelerating your career progression.

• Cons: The opportunity cost of leaving the workforce for 2 years and the financial cost of an MBA are significant. If you’re already progressing well in corporate development, the ROI of an MBA might be lower.

  Key Tip: Consider an MBA if you’re looking to pivot into a new field (e.g., PE, VC) or if you feel your current trajectory in corporate development is plateauing.

4. Maximizing Long-Term Earnings Potential

• If your primary goal is maximizing earnings, staying in corporate development and working toward senior roles (e.g., VP, Head of M&A) is a strong option. These roles offer high compensation with better lifestyle balance compared to PE.
• Alternatively, transitioning to PE or a family office could offer higher earnings potential, but with a trade-off in lifestyle.

Suggested Path Forward:

• Short-Term (1-3 Years): Focus on accumulating transaction experience in your current corporate development role. Build a strong track record of successful deals and deepen your healthcare expertise.
• Mid-Term (3-5 Years): Reassess your career goals. If you’re progressing well in corporate development, aim for a Director or VP role. If you’re interested in PE or investing, consider whether an MBA or lateral move is necessary to make the transition.
• Long-Term: Aim for senior leadership roles in corporate development or PE, depending on your chosen path.

Ultimately, your healthcare specialization and transaction experience are valuable assets. Whether you stay in corporate development or pivot to PE, focus on leveraging these strengths to maximize your career progression and earnings potential.

Sources: The Other Road: Corporate Development Associate Fielding Questions, The Other Road: Corporate Development Associate Fielding Questions, Corporate Development Manager - Q&A, Corporate Strategy vs Corporate Development, Breakdown of Post-IB Exit Opportunities