As a private equity associate considering a transition to non-PE finance roles, is it worth paying for a Top 7 MBA program?
I'm thinking F500 corporate development, corporate strategy/analytics or direct lending. Basically roles that are similar in nature to PE (DD focused, maintain a pulse on industry trends, some exposure to company operations without being in the day-to-day weeds, etc.). Less stressful than PE from a transaction volume and intensity perspective, but more exciting than the mundane corporate finance job.
Would I have a meaningfully higher chance of obtaining one of these roles coming from a Top 7 MBA program? Or would I be better off foregoing the MBA and pursuing these jobs directly from my current PE role?
Would I get more interviews coming from an MBA program? Would I convert said looks at a higher clip?
Put differently.....if you were Head of Corp Dev / Strategy at [CVS, Microsoft, Cargill, Kraft, UnitedHealth] or an MD at [HPS, AB, Golub, Monroe, Ares, etc] --- how would you view me (2 years IB + 2 year PE) relative to my equivalent counterpart in age (i.e., 2 year IB/consulting + 2 MBA degree)?
Hey WBI2994, I think you deserve a response...heck, everyone does. We're listening, sorry about the delay ...my best guess at places on WSO that could help:
Fingers crossed that one of those helps you.
Bumping this guy.....getting some likes so I assume others would also be interested in getting a discussion going here
It has been a decade or so since I’ve looked at Corp Dev postings. In my limited experience with limited interaction (so heavily discount this) ... the MBA is not required. The corporate development programs care primarily about your transaction experience (IB/PE) and not so much about the MBA. The skillset you obtained in IB/PE will directly translate to Corp. Dev. and is the core “qualifier” for the job.
That said, I’ve sold businesses to Corp Dev guys before. They’ve had to be on all of the same evening / weekend phone calls. They’ve also needed to abide by the same deadlines. They have an unwieldy level of internal reporting and “chain of command” to follow. While it is probably a better lifestyle than PE on average, don’t expect it to be a walk in the park or without its fair share of stress.
Say you’re a 3rd year analyst or 1-2nd year associate in PE that knows you don’t want to make a long term career of it mostly because of the demands of the job (partly because of the hours but mostly due to being on call 24/7 and feeling chained to the deal life). Where do you go if you want to still have a chance to see cool business models and make decent money but float around 50-60 hours?
Answer could be that just doesn’t exist, too.
Define “decent money.” There are very few jobs that pay a large premium that don’t also require you to be glued to your phone. That said, there are plenty of jobs that don’t pay a large premium but still require constant availability.
I don’t really know what your options are to be honest. It may require a bit of strategy to ultimately get where you would like to be. Perhaps work through your 20s, buy a bunch of real estate, and manage a portfolio of real estate investments to supplement a relatively relaxed corporate job ?
Corporate development / strat fin at growth technology company maybe?
Public markets could be an option but that's a whole different kind of stress
Direct lending, particularly funds that invest across the capital structure (senior, mezz, and equity co-invests) sounds like a fit for you. Hours are generally better at ~55-60 a week and 70-80 when a deal is closing and you have to get ready for final IC discussions but that is only maybe a 2-3 times a quarter. Comp is 80-100% of what you would expect in PE with betters hours as I mentioned and as you get to VP+ you get carry as you do in PE
Good insights on hours and comp. And thanks @CompBanker for the input on MBA vs no MBA.
Anyone else able to weigh in on the MBA question?
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