I have been working in transaction services for a Big 4 firm for a few years now (senior level). I have reached the point where I am starting to think about long term career aspirations. Recruiters have sent me lots of positions to ponder including investment banking analyst roles, corporate development senior analyst roles amongst other run of the mill accounting positions. Keep in mind that I work in larger city within the Southeast (not NYC, Chicago, etc.).
I have tinkered with the idea of IB but it seems like a huge sacrifice especially having to start at the analyst level for a boutique firm.
Does anyone have any advice they can offer about what direction I should head? I intend to keep the best possible work life balance but also would like to continue a career path more in the finance area. So am looking for that sweet spot where there is the best possible tradeoff between life and salary/benefits.
Does anyone have any insight into commercial banking? Would this be a stretch with my background?
Any insight into all of these questions would be greatly appreciated.
Thanks.
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Corpfin or corpdev sounds right up your alley. With your TS and Big 4 background, that would be a great role with a balance of being more "finance focused" in addition to keeping relatively good work-life balance. As boring as more accounting may sound, FP&A can actually be pretty interesting strategically and you can work your way up to management positions close to the CFO.
Thanks for the insight.
Does anyone have any experience with these corp dev roles? What does your day mostly consist of? What is the pay like in a city such as ATL? Also, what are the long term prospects of having such a job?
Lastly, I have been receiving interest from small IB shops but have been hesitant to fully commit to this career path? Am I dumb for not pursuing given the prestige that comes along with these roles? Or do you think it is very possible I may end up in corp dev post IB anyways?
Thanks!
Before you go further, I would sit back and ask yourself what you want. If you want the prestige and valor of having gone through IB, then take the job. Corpdev is prestigious in its own right, but you'll also get better hours. Slightly lower pay, but good benefits and work/life balance. Corpdev is an exit opp of IB, if that says anything - bankers WANT to be there. It's essentially working on the other side of the table - doing M&A work for a single company (in that regard, you're kind of "buy-side" haha).
Prestige is a dumb reason to do something. I think doing corpdev for a nice F500 trumps tiny-boutique IB any day. Your hours will not be anything crazy like IB. I never worked corpdev, but friends in industry tell me they work 50-60 hr weeks. Not too shabby.
PS, quit bumping your thread. Makes people annoyed and then they won't want to answer your questions.
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Thanks for the response @chicandtoughness!
This has been very helpful. Can you (or anyone else) speak to compensation and typical hierarchy of such a position in corpdev.? Having three years in Big 4 TS, at what level do you think it would be best to apply for a position?
Thanks again!
My $.02 - if you consider yourself a strong candidate, take whatever level you think you should go in at based on the job description, then bump it up a level (or two) and then apply for those jobs. You have nothing to lose, and a headhunter will only slot you into a spot they think that you "should" go into (their incentive is to get you placed) versus help you get into a really exceptional job.
Regardless of how this approach turns out, you'll be happy you took a shot - if companies give you an interview than the companies consider you eligible, and you can prove that you really deserve it in the interview. No point in setting an easy goal, especially considering you seem pretty happy where you are so there's no time rush to get placed.
Consider this advice worth what you paid for it.
Great advice ConsultingQuant! I will take that into account.
What do you think the work is like? Is it mostly accounting based or is there a good mix of financial modeling and strategy involved as well? Also, what are the long term prospects of entering corpddev.?
Thanks again!
Does anyone have any thoughts on the above question? TIA.
There are a number of threads around on all of your questions, so I'd dig around on WSO.
Generally the Corpfin / Corpdev / Corp Strat departments vary drastically by company / industry so its virtually impossible to say exactly the breakout of the types of work in the various groups. In my mind, Corp fin is the closest to generic "accounting" work, but that's just based on folks I know who work in the three different departments.
Again, I'd use the resources available (job description / interview process / internet / contact / whatever else you have access to) to find out what you want to know about a role before you commit to a company.
Corp dev. paycheck is pretty fat. What are u making now ?
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