F500 Corp Development (M&A) to PE W/O MBA??
I am 30 y/o living in a low COL, Manager of Corp Development (M&A) reporting to VP M&A. I am currently making 170k all in (140k base + 20% bonus) and my boss is currently making 350K all in (250K base + 40% bonus) I do not have an MBA as it doesn't make financial sense with my current compensation. I feel as if I am in a crossroads in my career. There is currently no Director above me and I feel as if i will be promoted within the next 6-12 months. This will put compensation at 215K (170K base + 27% bonus)
I am afraid that without an MBA Director level is the furthest I will be able to go unless I transition to PE or Consulting. However, most Cons./PE guys I come across all have an MBA and/or come from Target school. What are your thoughts? Do I have a chance with a P/E firm? Should I stick to F500/100 Corp Development and transition to PE only after I make VP level?
I wrote a long post a while ago about Corp Dev to PE and why it's a challenging leap to make. If you're talking about working for a PE portfolio company in Finance that's ones thing, but being an investor at a PE firm is likely going to be challenging, even if you get an MBA from a top 5-10 school. Post-MBA PE roles are usually Senior Associate/VP roles and they want folks to have had PE experience prior to business school. A handful of folks will make it with great banking experience, but even that is a tough transition to make. Corp Dev at most firms rarely mimics the deal process at a PE firm. So while some people in Corp Dev think that they've done deals, unless you come from a rigorous investment banking background or you're one of a few very acquisitive and high growth companies, your skillset probably isn't that well suited for PE.
If there are any local PE funds in your city, I'd start talking to them now, build a relationship, and hope to transition as soon as they have an opening. That'll probably be your best bet.
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