Is going from lower MM PE to corp dev a dumb decision? Or is it even that feasible? Most people I have talked to were hired right from banking.
I am so tired of working long hours and have decided I am OK with a pay cut if it means more 9-5 hours (not all the time, but most of the time)
not dumb...you have the skills
Have you considered moving to corp dev, general corp fin, or a business transformation role at a PE PortCo? I went from IB to corp dev and later moved to the PE PortCo corp dev world and really enjoy it. It’s a bit more fast-paced than F500 corp dev, but there is also a lot less red tape to getting deals done. There is also good line of sight towards value creation, especially if you’re at a platform PortCo vs. at F500s where I frequently was scratching my head trying to rationalize the synergies we were pitching to management.
Should be an easy move. I would aim for VP level at PE backed business.
PE and Corp Dev have a very similar skill set. People like to say that it's a tough transition to go from one to the other, but it's just hard to get these jobs all together. You could make the transition to Corp Dev from a LMM PE firm and make $200k as an associate of a PE backed company but in a T2/3 city where that goes pretty far (Raliegh, Charlotte, Tampa, Columbus types). The hours drop to 45 a week and comp is still rather good. If you go to a F500 company you'll get the name brand exposure for if you want to switch back to PE later, or you can go to the PE backed companies and make a career out of creating value for PE companies, which can pay just as well as PE roles at the higher levels.
You're delusional if you think you can go from Corp Dev to PE
I've had analysts/associates leave my team and work at MM/LMM PE firms to chase the money. An M&A deal is the same for a Corp Dev team as it is for a PE team, the only difference is that you'd add a debt component and at disposition you have a waterfall to push returns through. I came from PE and could go back in a second if I wanted to, I've had old colleagues try to bring me back over the years too. It's 100% possible for people that can competently model M&A deals and can coordinate due diligence materials.
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