PC to Corp Dev?
Was hoping to get a sense form ppl here what you think about moving from private credit into corp dev? Currently at probs the largest DL fund and getting a bit lost in terms of next steps - all I know is I don't want to write debt thesis papers every week and want to make better use of time.
An offer came up to move to a large fintech ish business (massive portfolio of tech businesses that they bought) in corp dev, doing some levfin type work + product development, with an opportunity to move around to strat or divisional director post two years IF you perform well. Still very demanding hours and less comp step up each year. What's the up and downs of this? Move or nah?
Transitioning from private credit to corporate development can be a significant career move, offering a new set of challenges and opportunities. Based on insights from Wall Street Oasis, here are some considerations to weigh when contemplating such a move:
Upsides:
Broader Exposure: Moving to corporate development, especially in a large fintech or tech-centric company, can provide exposure to a wide range of activities beyond debt structuring, including M&A, strategic partnerships, and product development. This can significantly broaden your skill set and professional experience.
Strategic Involvement: Corporate development roles often involve strategic decision-making processes, giving you a chance to contribute directly to the company's growth and direction. This can be more fulfilling if you're interested in seeing the direct impact of your work on the business.
Career Progression: The opportunity to move into strategic or divisional director roles indicates a clear path for career advancement, contingent on performance. This can be appealing if you're looking for upward mobility and the chance to take on leadership roles.
Downsides:
Demanding Hours: While you're seeking to escape the grind of writing debt thesis papers, it's important to note that the role in corporate development, especially in a fast-paced fintech environment, may still demand long hours. This could be similar to what you're experiencing in private credit, so consider if the trade-off in work content is worth the continued high demand on your time.
Compensation Growth: If the compensation step-up each year is less than what you might expect in private credit, consider how this aligns with your financial goals and needs. While the role may offer other forms of professional satisfaction, ensure that the compensation trajectory meets your expectations.
Performance Pressure: The conditional offer to move into more strategic roles based on performance can be both an opportunity and a pressure point. Ensure you're comfortable with the performance metrics and confident in your ability to meet them.
Conclusion:
The decision to move from private credit to corporate development should be based on a careful consideration of your career goals, desired work-life balance, and the types of challenges you want to tackle. If the opportunity aligns with your long-term aspirations and you're prepared for the demands of the role, it could be a rewarding move. However, weigh the potential downsides, especially regarding work hours and compensation growth, against the upsides of strategic involvement and career progression.
Sources: Corporate Development: My Experiences and Background, corporate development regrets?, Evaluating Corporate Development Roles, Breaking into Private Equity from Banking, Q&A: Returning to PE After a Year and a Half at a Series C Startup
Lol I would stay. Go have fun after work or on vacation.
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