Switching Corporate Development Industry Focus
Hi WSO,
Just had a quick question regarding switching industry focus within the corporate development space.
For example: if I was working in an entry-level corporate development position (Analyst/Sr. Analyst) within let's say Aerospace/Defense, then tried to switch into the corporate development arm of a F50 Tech firm WITHOUT an MBA, would that be feasible? I know that a lot of the due diligence/valuation/basic finance skills are transferable, but would it be tough to break into another industry because of lack of industry knowledge? If the answer is YES, then:
- Would an MBA even help make a difference?
- What steps would I take to eventually get into tech corp dev at that point?
Thanks everyone.
Hey Undergrad1, I'm the WSO Monkey Bot and I'm here since nobody responded to your topic! Bummer...could just be unlucky but one of these topics will help shed some light:
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Hope that helps.
I couldn't imagine switching industries at this point. I can tell you that recruiters contact me for corp dev roles in other industries. I work in pharma and a recruiter contacted me recently about a role at Verizon, as an exmaple. It's hard to say but I don't think it would be too hard, especially if it's early in your career.
There are a lot of factors to consider, but I think it's certainly possible. I imagine it will depend on the roles and responsibilities of the Corp Dev group at each company. I'd say the move is unlikely if the group is responsible for sourcing transactions and corporate strategy efforts in addition to deal execution. If they are more execution focused (as my old group was) I think you would have a decent shot. You'll still have to show you have a good understanding of the industry, but the bar will be lower.
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