Hi, has anyone moved from a middle market investment bank to corporate development and then into a bulge bracket IB role? What are the advantages and disadvantages of this route compared to staying in banking the whole time?
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I've seen a few people ask whether it’s possible to go from middle market investment banking to corporate development and then into a bulge bracket IB role. While it’s not the most traditional route, it’s absolutely doable - and in some cases, it can be a strategic advantage.
Moving into corporate development after MM IB can help you round out your experience with a more strategic, operational lens. In Corp Dev, you're not just executing transactions - you’re involved in evaluating how deals align with broader business objectives, working across teams, and sometimes even supporting post-merger integration. That experience can give you a level of maturity and perspective that purely transactional roles often don’t provide.
If you later decide to return to banking, especially at the bulge bracket level, that broader experience can help differentiate you. It shows that you understand deals from both the sell-side and buy-side, and that you’ve had exposure to how real businesses operate - something that’s increasingly valued, especially at the associate level.
That said, there are trade-offs to consider. Some firms may question why you left banking in the first place, and you’ll need a clear narrative about what you gained from Corp Dev and why you're returning to IB now. Deal volume in Corp Dev may also be lower, depending on the company, and if you’re not actively modeling, your technical skills can get rusty. These are things you’d want to address head-on in interviews.
Overall, this path can make sense if you’re intentional about it - especially if you use Corp Dev to gain brand name exposure, build strategic muscle, and maintain or sharpen your technical skills along the way. Many have used this pivot to reset, rebrand, and re-enter the market at a stronger platform.
If you’re navigating a similar transition (or just thinking about it!) I’d be happy to help. I offer career coaching focused specifically on finance professionals planning strategic career moves, including:
- MM IB → Corp Dev → BB / PE / Growth Equity
- Non-traditional paths into high finance
- Storytelling and positioning for lateral recruiting
- Interview preparation and deal walkthrough strategy
Feel free to reach out or DM me if you'd like to map out your options or get tailored support.
Hello!
It is possible to move from a middle market bank into corporate development and then back into a bulge bracket, but it is less common than making a direct jump. The advantage of taking this path is that corporate development gives you strong in-house deal exposure, strategic thinking, and direct interaction with senior management, all of which can be valuable when later pitching yourself to larger banks.
It also offers better work-life balance in the interim, which can be attractive if you are looking for a reset before re-entering the intensity of IB.
The drawback is that re-entering banking after corporate development can be challenging because banks sometimes view the switch as stepping off the traditional path. You may have to re-enter at the same or slightly lower level than peers who stayed in banking, and you could need to re-prove your ability to handle the long hours and execution-heavy work.
If your ultimate goal is to be at a bulge bracket, staying in IB directly is usually the faster and more straightforward route, but the alternative can still work if you are strategic about networking and can clearly articulate how your corporate development experience enhances your value to a BB team.
