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April 30, 2024
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Hi MedTechMonkey, just because I'm a bot doesn't mean I don't have feelings...I'm hoping these links are helpful. If not, feel free to throw monkey shit at me...
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this is really difficult to answer since CD experiences widely vary.
better question to start is what is the scope of your role and responsibilities? Example -- will you be involved in the full deal cycle from sourcing to close, or will your CD team be outsourcing the bulk of the work and diligence to the sell-side, leaving your team ultimately responsible for project management and facilitation-type of responsibilities?
I do all the financial modeling. Someone on the team will source the deal then I work with various departments and build out detailed financial models. If it gets internally approved then we enter sign an LOI and i'll do the financial diligence. Another part of the team works on integration and facilitation-type responsibilities.
any idea the range of deal size? i.e. lower middle market?
Most common exit opps would probably be Corp Dev at another company, a role in a Corp Strategy team, an MBA if done within ~2 years, or taking a different role in Corporate Finance (e.g. Treasury or FP&A at a big company, a more operational finance role at a growth company)
Is CorpDev attractive when applying to top 10 b-schools?
It’s not megafund PE but it’s also not bad. What you’ve done for the last 3 years will also have a big impact.
Sorry I meant for exiting into other roles such as PE
I've heard of it happening but definitely tougher than the traditional IB>PE route. The ones that I've heard of that have made the jump went to a PE fund that was in the same industry as their CorpDev experience.
What you do will be attractive to top 10 b-schools, but make sure you also have an interesting story to tell. There are tons of dudes applying to b-school that have worked on deals either in CD or IB.
The thing is, why do you want to leave? B-school I get, it is a natural progression. However, people slave away in the sweat shops of IB and consulting for years just to get the job you are in now.
Undergrad -> IB/consulting -> CD Undergrad -> IB/consulting/corp -> MBA -> IB/consulting -> CD
Also, sounds like you are in a really organized CD group and you are getting great exposure to deal flow and have clear ownership of parts of the deal. Careful what you wish for if you want IB/consulting. Looks glamorous, but you will be going from ~50-55 hours a week in CD to 75-80 hours a week, travel, etc.
Problem I'm finding with starting off as an analyst in CD is the progression - there is a huge gap of experience between me and the next person who was a VP in IB. I feel the only viable route of progressing is either starting off as an analyst again in IB or going to B school
You could stay for a bit longer, go to b-school, then banking after b-school, then back to CD as you stated to a higher CD role that requires more experience. Or go to banking now then b-school. Just remember my first point, you are more attractive not being another banker b-school applicant. Try to get involved in some strategy projects or help implement something. That will make you look different.
It is a lot like VC. There are junior people, then a gap in experience with a handful of post-MBA people, then next level (another gap) are people that have started companies!
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