Hi, I just started my first year at a high-tier MM IB in a well-regarded industry group. I am really enjoying the work so far, how the culture is, and I am happy with where I am at. All the other first year analysts have began discussing the PE recruitment timeline, but I am interested in Corporate Development (CD) and Venture Capital (VC) in my industry vertical (potentially another one as well but I know sticking to my industry is far easier and I am enjoying it thus far). I have four topics/questions I would like to know more about:
1) Any insight around the timeline for CD and/or VC recruiting
2) What the CD and/or VC process looks like
3) Any advice on what I should be doing throughout the processes, especially on what I should be doing right now
4) I would also like to know what recruiting outside of the region of your IB is like in CD and/or VC if possible
Happy to answer any questions as long as I can keep it vague enough. Thank you all for the help in advance!
Following
Two radically different processes, from the Corp Dev side, I would say there is way less of a formal process when compared to IB/PE.
Most companies operate on a as needed basis and always have a short list of candidates that the team knows. For example, we just lost a director level on one of our Medtech teams. We all came together and pitched in names of people we knew who fit the profile (internal & external) We obviously still have to post the job.
Long story short, if you want to go CD, better start building your network in the major strategics in your desired area. That network is going to dictate the opportunities on the CD side. CD obviously isn't as competitive, so you still can apply blindly and take your chances with the funnel.
Is it possible to switch into Corp Dev after 1-2 analyst years? Or is it usually more senior (VPs/higher level associates) that leave into Corp Dev? Would doing IB first provide any benefit or would you be at the same starting point/trajectory as those that came in, say from a corporate finance development program or other finance roles?
Generally it's at the Analyst/Associate level. Though we have hired a VP that was burned out. Past a certain point, the money difference becomes way too much.
Most teams are going to want that Banking experience, as 50% of the job is modeling at a jr level. You will see some career switchers without banking experience scattered in CD, though they aren't the norm. I didn't do banking, and came in through a company transfer, but had to strap 2 years of banking experience on in 2-3 months.
Honestly do 12-18 months of banking then start looking. It is not unreasonable to be able to negotiate a Associate/Manager title after that.
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