Unconventional Post-Banking Careers

Based on the most helpful WSO content, here’s a breakdown of unconventional post-banking career paths and how to position yourself for them:

1. Corporate Development/Strategy

• Why it fits your goals: Corporate Development offers a mix of entrepreneurial exposure and strategic decision-making. You’ll work on M&A transactions, capital-raising, and strategy for a specific company, often in a 9-5 setting. This provides better work-life balance and the chance to learn how businesses operate from the inside.
• How to position yourself: Build strong M&A and financial modeling skills during your banking stint. Network with professionals in industries or companies you’re passionate about. Highlight your deal experience and strategic thinking when applying.

2. Entrepreneurship

• Why it fits your goals: Starting your own business aligns perfectly with your desire for engaging work, flexibility, and upside potential. Your IB experience will provide valuable skills like financial acumen, networking, and market insights.
• How to position yourself: Use your time in banking to identify market gaps or industries you’re passionate about. Leverage your network to connect with potential co-founders, investors, or mentors. Be prepared for the high-risk, high-reward nature of entrepreneurship, and consider saving a financial cushion during your IB years.

3. Venture Capital (VC)

• Why it fits your goals: VC allows you to work closely with startups and entrepreneurs, offering exposure to innovative ideas and industries. It’s a great stepping stone if you eventually want to start your own business.
• How to position yourself: Focus on networking with VCs and startups during your banking years. Highlight your deal experience and ability to evaluate business models. Consider specializing in an industry you’re passionate about to stand out.

4. Product Management or Marketing in a Startup

• Why it fits your goals: These roles allow you to be hands-on in building and scaling a business, offering a mix of creativity and strategy.
• How to position yourself: Develop a strong understanding of the startup ecosystem. Network with founders and startup teams, and emphasize your analytical and problem-solving skills.

5. MBA as a Pivot

• Why it fits your goals: An MBA can provide a structured way to transition into entrepreneurial roles, corporate strategy, or even starting your own business. It also expands your network and gives you time to refine your goals.
• How to position yourself: If you choose this route, aim for a top-tier MBA program. Use your banking experience to demonstrate leadership, analytical skills, and a clear vision for your post-MBA career.

Key Tips to Position Yourself During Banking

1. Network Strategically: Build relationships with professionals in industries or roles you’re interested in. Attend events, reach out on LinkedIn, and maintain connections with colleagues and clients.
2. Develop a Strong Skill Set: Focus on mastering financial modeling, deal execution, and strategic thinking. These skills are transferable to many entrepreneurial and corporate roles.
3. Save and Plan Financially: Accumulate savings during your banking years to give yourself flexibility for entrepreneurial ventures or career pivots.
4. Explore Side Projects: If possible, work on side projects or startups to gain hands-on experience and test your entrepreneurial interests.

By leveraging your IB experience and strategically positioning yourself, you can transition into a career that aligns with your goals of engaging work, flexibility, and personal/professional upside.

Sources: Corporate Development: My Experiences and Background, Breakdown of Post-IB Exit Opportunities, Why corporate banking instead of investment banking?, Corporate Development Manager - Q&A, Banking -> Startup PM on who SHOULD join IB