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Step 1) Make VP - life gets a bit better (from 14-15 hours as a 3rd year associate 5.5 days a week, to 12-13 hours on average 5 days a week as VP). Money is also significantly better. $250K base for VP1 in the US + 100% bonus.
Step 2) Specialize in a specific industry vertical when as a VP. Ideally do tech IB. Spend 2-3 years making bank + cultivating expertise and relationships and proving your leadership capabilities.
Step 3) Move to a senior position on the corp dev team of a client / established tech company
Contingency: In ~3 years assuming you’ve saved enough of your VP comp + have prior savings from IB bonus that you’ve invested in public equities (again - ideally mature tech), you will have given yourself enough monetary cushion to explore whatever you would like to
If you manage to get an exit before then in an industry / role you like, ofcourse go for it! I think it takes probably 2-3 years of focusing solely in a given industry at a VP level to build relevant expertise - that’s just me and your journey could be much faster
Following. Interested to hear what Corp Dev would pay at your level and what type of company that would be (sponsor backed private company or public company)
Also following
Sounds interesting. Following this chain for insight!
Believe Corp Dev roles at large companies would pay similarly, but not 100% sure. Also probably Renewable developer start ups pay well (+$150k-175k) and you get equity as well.
Look at some of the larger boutiques. Same comp but you have a life.
Mentor
Having worked at one of the top boutiques, and knowing people who work at others, this isn’t true. It’s just as grindy as the BB environment.
IBD is IBD
If you only want to make $200k, there’s tons of exits. Any corporate development job will allow you that much and will have easy hours.
My plan as an A2A likely to stay in IB longer term, is to figure out which groups at which firms prioritize work life balance and think through how I can get there. Similar to you i see VPs and even EDs in my group commonly working ~80 hours a week and would not want to stay. I know there are groups where 60h weeks at VP level are common, so think it is a networking exercise
I heard FDD at A&M can get you to 200k as a senior associate easily.