Long-time WSO fan looking for some honest advice. I currently work as an associate FP&A director for a large biotech firm in the DC area. The pay and work/ life balance are great, but I feel like I’m getting complacent and I’m not getting challenged enough. I’ve always been interested in the idea of joining a Corp Dev team, but from what I can gather, I would almost certainly have to get an MBA. Going off that assumption, in the non-IB world, how much do MBA rankings and prestige weigh in the decision-making process for Corp Dev/ Finance type roles? In a vacuum, I would surely go for the best program I could get into and never look back, but real-life issues, such as UG debt (80K), being married (don’t tell my wife that I call that out as an issue) and trying to save for a house in a high COL area, make the decision much more difficult.
Given my goals and current life position, which ones would you suggest (assuming I could actually get in):
- FT UVa (150-200)
- PT GT (150-200)
- PT NYU – DC Campus (150)
- PT UMD (80)
- PT Johns Hopkins (60)
- PT William & Mary (60)
- Good online program, such as IU, CMU, USC, UNC (70-110)
- No MBA, possibly pursue CFA
Basic stats:
- 3.0 GPA (worked full-time to supplement income) at complete non-target
- 5.5 years of work experience, all in FP&A; quick career progression
- 720 (50Q, 38V)
- CPA
- First-generation college student (not sure if that matters)
- Goal: Corp Dev > high-level finance exec (VP/ CFO)
Thank you in advance!
Thanks, would probably depend on your current comp if you can share
110 base and 20% bonus potential.
.
darden
50Q? Holy hell what on earth were you studying? I want some of what you're smoking
Haha just Manhattan GMAT and Math Revolution
What did you think of Math Revolution? They make some pretty bold claims. I've seen some love/hate reviews.
Personally, the CFA is a good thing to add to a resume, but it's not very relevant for Corp Dev/IB/anything deal-oriented. That's not to say it won't help, only that you'll only use a small portion of the material in your career, and it won't be as impressive for Corp Dev hiring managers as it would be for investment management hiring managers.
agree, waste of time for corporate finance roles.
does your existing company have a CD team? if so, just network with them. you should get a look if you're a high performer. just study deal related material before initiating the process so you can hit the ground running when networking.
As someone who has faced this dilemma a number of times I'll share my advice/thinking: - If you are happy in FP&A and are considering staying in FP&A (or a related field) I would not even consider going full time. You already make as much as the average starting salary out of an M7 (I know the mba is about the long run, but this still astounds me). - PT MBA is a good mix if you really wnt to pursue further education (I didn't, but many do). Hopefully your company will pay for some of it, it's cheaper, you continue to get work experience, it's spread over a few years (for work and cost standpoint). - What you didnt mention that I would strongly consider if I were you is a EMBA. If you think you can get to the Director level without further education then the EMBA becomes an option. Often times, companies will reimburse more towards an emba. I'm past the Dir level and still consider getting an emba at times.
Your best bet to getting in to Corp Dev is likely to be a kick ass performer in your current role and to transfer within your existing company. Corp Dev roles are more rare than FP&A and you don't have the "traditional" background. Also note that the middle management level is hardest for someone with no Corp Dev experience to move into.
I can't even fathom why you'd waste your time on the CFA right now given what you've stated as your goals.
I've been in your shoes (married, FP&A, looking to further career, considering education). If you want to shoot me a PM to discuss further, fell free.
Thank you so much for the advice. To answer your question in regards to an EMBA, I do think I can get to a Director level position without any further education, so this is starting to sound like the best path for me. I've been really discouraged in the lack of scholarship opportunities for PT programs, but then again, I understand that schools would rather give money to people that are fully immersed in the program.
In context to Corp Dev opps within my own company, do you know what sort of resources I could buy to learn more about M&A and divestiture modeling? I'm guessing Wall Street Prep or BIWS courses would be sufficient, but I was curious as to your thoughts.
Thanks again for your advice, and I will definitely reach out if I have any more questions!
I am probably biased, but EMBA has always been the most attractive option to me (although I havent enrolled).
I'm not an expert at transitioning to or preparing for Corp Dev. You may find better advice elsewhere, but I would: - Network with the team. Hopefully you get comfortable enough with the higher ups there to express an interest. - Learn your industry inside and out (this will help in FP&A as well). Read anything relevant that you can. - Learn/read about the M&A process if you aren't familiar. - Learn modeling. I've heard good things about BIWS, but dont have direct experience with any of the courses. I will tell you that there's a VERY good chance that your company has their own model so you wont need to create anyting from scratch if working in Corp Dev. However, having the understanding that comes with being able to build the models is critical.
The good news is that all of the above steps will help you in FP&A as well. Just build a solid gold reputation at your company and bust your ass and good things will come.
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