From IB to Inhouse Consulting/Corporate Strategy/Corporate Development
Hi guys,
Just wanted to check if somebody has made the switch from IBD of his/her bank to the Inhouse Consulting/Corporate Strategy or Corporate Development department within the bank.
Or are those "within firm exits" more uncommon?
If you change after 2 years as IBD analyst to IC, will you start as senior consultant or regular consultant?
Every input well appreciated.
Thanks
IB to Corporate Strategy (Originally Posted: 03/31/2014)
I'm a second year analyst in a coverage banking group at a BB and am going to be starting a corporate strategy gig next month at a well known F500 (consumer / retail space). Does anyone have any reading recommendations or other ways to prep for this type of role? I've got almost no background in strategy or the consumer / retail industry. Also curious to hear general thoughts on what other people have done and found helpful when making this kind of transition. Thanks in advance.
If I were you I'd learn as much about your company and the industry as possible from a high level. Understanding some of the innovations, trends, strategies should help you appear intelligent from the get go. Good luck!
Thanks GoIllini, appreciate the response.
Some of the lengtheir ER reports have good insights on company strategy, but a lot of them focus on short-term issues that would affect quarterly performance. If there are reputable blogs on your industry, I would read them.
Thanks man, yea I've read a lot of the initiating coverage reports which are very helpful but more curious (and concerned I suppose) about how to shift from the banking mindset and method of problem solving to the consulting framework (matrix approach, Porter's 5 forces, 4 C's, etc.).
rickyross - I'm curious as to how you came upon this position? I'm interested in the same sector & type of position actually.
I initially saw the position on the company's website and applied through there, but I also searched for people on LinkedIn who worked in the group and ended up getting in touch with someone. Definitely helps to know someone at this particular company as they prefer internal referrals.
I made the same transition a year ago - I was a 3rd year analyst at a boutique IB and landed a corporate strategy gig at a large REIM - and now that I'm a year into my role, I can tell you that it's a very different mindset than banking. In banking, it was all about getting sh*t done, whenever and however. In corporate strategy, as you would suspect in a corporate environment, everything is slowed down to almost zero. So back to your question about getting prepped for it, what I did was read up on articles/forums/ER reports/and everything else i could get my hands on to get a real primer on the industry, how to model real estate, what are the risk factors, key drivers of the industry, etc....all this to get my head wrapped around the idea of "living and breathing real estate"...being in corporate strategy, you'll have many different things thrown at you (much like in banking, but it's not the same "stuff" over and over again)...these things all tie in with the company's long-term strategy...where they want to be in 5/10 years...how are they going to get there? what do they need to do to get there?
one prime example of a curve ball you'll receive in corp strat is HR initiatives...so back to basics, back to undergrad years....if the company wants to become a more diversified company in terms of gender and ethnicity, how are they going to be "that" company?
PM me if you want more insight
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