Those who exited from IB to corp dev - how did you make another move to exit into P&L or managerial roles?

Based on the most helpful WSO content, transitioning from IB to Corp Dev and then pivoting into P&L or managerial roles is indeed a nuanced path. Here’s what you need to know:

1. Understanding the Role of Corp Dev: Your observation about Corp Dev being treated as a back-office function in some companies is valid. In many organizations, Corp Dev supports business heads by assessing opportunities, conducting due diligence, and managing deal processes. However, the level of influence and exposure can vary significantly depending on the company and its culture.

2. Pathways to P&L or Managerial Roles:

   • Internal Networking: Building strong relationships with business unit leaders and demonstrating a deep understanding of the business can position you for roles like Finance GM or Commercial Finance. This requires going beyond deal execution and showing strategic thinking and leadership potential.
   • Cross-Functional Exposure: Seek opportunities to work cross-functionally with teams like product, marketing, or operations. This can help you gain a broader perspective and make you a candidate for roles with P&L responsibility.
   • Transition to FP&A or Partnerships: Many Corp Dev professionals pivot into FP&A or strategic partnerships roles, which often serve as stepping stones to P&L ownership. These roles allow you to get closer to the operational side of the business.
   • Startup or Smaller Companies: Moving to a smaller company or startup can accelerate your path to a managerial role. In such environments, you’re likely to wear multiple hats and gain P&L exposure faster.

3. Challenges in Promotion: As you noted, promotion within Corp Dev can be slow due to low turnover and limited team expansion. To overcome this, you may need to switch companies or roles to advance your career. Demonstrating a track record of delivering value and building relationships with decision-makers is crucial.

4. Examples of Successful Pivots:

   • Some Corp Dev professionals transition to divisional CFO roles by moving into FP&A and climbing the ladder from there.
   • Others leverage their deal experience and relationships to move into partnerships or business development roles, which can lead to broader managerial responsibilities.

5. Key Takeaways:

   • Focus on developing a reputation for superior work and strategic thinking.
   • Actively network within your organization and externally to identify opportunities.
   • Be open to lateral moves that provide operational exposure or P&L responsibility.
   • Consider industries or companies where Corp Dev is more integrated into strategic decision-making.

If you’re considering this move, it’s essential to evaluate the specific Corp Dev role and company culture to ensure it aligns with your long-term goals.

Sources: Corporate Strategy vs Corporate Development, Corporate Development: My Experiences and Background, The Other Road: Corporate Development Associate Fielding Questions, Corporate Development Manager - Q&A, Corporate Development: My Experiences and Background