Business Development Associate Question:
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Right, sounds like a good move - you were actually employed throughout an entire recession, which didn't happen to too many other bankers.

You mentioned "corporate development" just now - terms like "business development," "corporate strategy," "corporate development," and "corporate finance" are lumped in the same category, but how are they different? What do you focus on?


It depends on the company, but here's how I think about the differences:

► Corporate Development: You focus on M&A and acquiring other companies as well as setting up joint venture deals.

► Business Development: It's less about M&A and acquiring companies / stakes of companies and more about setting up partnerships.

► Corporate Strategy: This is like management consulting, only internal to the company. You focus on planning their big-picture strategy, solving specific operational problems, and competitive analysis.

► Corporate Finance: This is more like FP&A (Financial Planning & Analysis) - you maintain the company's finances, plan their budget, and make sure all the right controls are in place.

► Of those, corporate development is most similar to banking/PE, and corporate strategy is most similar to consulting; corporate finance is closer to accounting or auditing work and you don't need to understand deals to do it.

My job is a combination of corporate development, business development, and corporate strategy - since it's a startup you have to do a bit of everything.

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