Skills to build to Transition into Corp dev / strategy
PE VP1 with IBD background. Want to make a career transition into an industry with better worklife balance / learn more skillsets to avoid becoming pigeon-holed into a niche PE industry. Current firm is “up and out” and I don’t see myself being able to source to make Director/MD.
Would it be difficult to transition into a Corp dev or strategy/data role with no relevant direct experience? Would taking certification courses in data analytics be helpful?
Based on the most helpful WSO content, here are some insights and recommendations for transitioning into a Corporate Development (Corp Dev) or strategy/data role from an Investment Banking (IBD) background:
Skills to Build:
Data Analytics:
Financial Modeling:
Coding:
Certifications:
Transition Considerations:
Recommended Actions:
Enroll in Data Analytics Courses:
Enhance Financial Modeling Skills:
Network Actively:
Highlight Transferable Skills:
By focusing on building these skills and leveraging your existing experience, you can successfully transition into a Corp Dev or strategy/data role with better work-life balance and broader skill sets.
Sources: https://www.wallstreetoasis.com/forum/hedge-fund/machine-learning-taking-over-hf-research-analyst-roles-in-near-future?customgpt=1, Are there any relevant certifications/designations worth getting other than MBA/Masters? CFA, CAIA, certificate programs, etc., Q&A: Quantitative Analyst - Machine Learning, Analytics, & Quantitative Research/Investing, LinkedIn Strategy & Analytics - Ask Me Anything, WSO Courses
A corp dev role is immensely doable. You have the finance experience needed for it. The only question is at what level do you join the corp dev team at? Depending on when you leave IB, it would either be a manager or director level role. But the timing of when you leave may factor into things quite a bit as you may be in the "too much experience for a manager role but not enough experience to be a director."
But you should be just fine experience-wise. The key difference in corp dev compared to IB is that (1) in corp dev you have to have an actual opinion and (2) you touch on far more of the process.
In IB, you are fundamentally not a decision-maker. You fundamentally get hired to do a specific subsection of finance work and potentially for your/your-firm's ability to raise capital. You are a hired gun. A skill you need to have for the likely manager/director-level corp dev role you'd lateral into is being able to take that and make a decision on if that works for the company or not, and then be able to defend it.
You also touch on much more of the process. Bankers touch on very important parts of the process, but the things the bankers are involved with are far from everything. For example, take the post-signing process. It is relatively rare for bankers to be heavily involved with that post-signing process. Sure, bankers will often do something in this time. They often won't just literally go away. But the amount of pre-closing work a banker does v. what you can be responsible for in corp dev is very different. Similarly, bankers tend not to be involved with a lot of the front-end work. This makes a lot of sense, especially with sell-side work. That decision of what to sell is rarely something a banker gets involved with. The transition into this type of work is certainly not difficult. Some of it is very similar to what you already do. But you will be responsible for more of the process.
I think he’s a VP1 in PE, not in IB. I assume that means he’s done 2 years of IB and at least 4 years of PE. Does not change your answer at all?
My bad for the carelessness. I clearly have spent too much time on WSO today and my brain has turned into mush.
Yes. That wouldn't meaningfully change the answer, but it makes it much more likely that a director-level role is more plausible.
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