Find all School-related info fast with the new School-Specific MBA Forum

It is currently 25 Oct 2014, 16:22

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Business Development

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
2 KUDOS received
SVP
SVP
User avatar
Joined: 04 Dec 2007
Posts: 1689
Schools: Kellogg '11
Followers: 13

Kudos [?]: 179 [2] , given: 31

Business Development [#permalink] New post 18 Jan 2009, 11:15
2
This post received
KUDOS
3
This post was
BOOKMARKED
Found this PPT on the different Business Development roles from the Haas GM/Strategy club website:

https://www4.mbafocus.com/careernet/resources/cp/cp_bd_0605.pdf

The Hass GM/Strategy Club: http://groups.haas.berkeley.edu/sgm/careers.html
1 KUDOS received
SVP
SVP
User avatar
Joined: 08 Nov 2006
Posts: 1560
Location: Ann Arbor
Schools: Ross '10
Followers: 12

Kudos [?]: 165 [1] , given: 1

Re: Business Development [#permalink] New post 19 Jan 2009, 19:12
1
This post received
KUDOS
BD jobs tend to vary significantly in function and importance, across industries and even within companies in the same industry. In service based industries, BD tends to be more of a sales role, while in industries which involve licensing partnerships(say DuPont working with a cooking pan manufacturer or JNJ licensing a new drug from a start-up), it may be more numbers focused. In essence, keep in mind that some companies look at BD as a purely finance driven function, while some others look at BD as more of a marketing/strategy role. Be cautious when evaluating companies for BD opportunities.

All BD jobs are not created equal!
_________________

My Profile/GMAT/MBA Story
http://www.gmatclub.com/forum/111-t59345

Get the best GMAT Prep Resources with GMAT Club Premium Membership

Director
Director
User avatar
Joined: 10 Jun 2006
Posts: 624
Followers: 4

Kudos [?]: 51 [0], given: 0

Re: Business Development [#permalink] New post 20 Jan 2009, 17:12
Thanks for the great info guys. kudos to both.

ncp,

How would you suggest someone go about their due dilligence to understand what various business development jobs entail? Are the job descriptions pretty obvious? Do you have to go as far as contacting alums in the company to get a sense for what their business development role entails? Thanks!
SVP
SVP
User avatar
Joined: 04 Dec 2007
Posts: 1689
Schools: Kellogg '11
Followers: 13

Kudos [?]: 179 [0], given: 31

Re: Business Development [#permalink] New post 20 Jan 2009, 17:21
ncp - one more question: where does business development recruiting fall within the 1st year timeline? Is it around the same time as gm jobs?

thanks :)
SVP
SVP
User avatar
Joined: 08 Nov 2006
Posts: 1560
Location: Ann Arbor
Schools: Ross '10
Followers: 12

Kudos [?]: 165 [0], given: 1

Re: Business Development [#permalink] New post 20 Jan 2009, 17:53
I would say job descriptions, company recruiting events and related Q&A sessions, and MBA2s who interned the previous year are usually sufficient to understand what BD at a specific company entails.

Beyond this, talking with alums and visiting companies can be of great help as well.

IHateTheGMAT wrote:
Thanks for the great info guys. kudos to both.

ncp,

How would you suggest someone go about their due dilligence to understand what various business development jobs entail? Are the job descriptions pretty obvious? Do you have to go as far as contacting alums in the company to get a sense for what their business development role entails? Thanks!
1 KUDOS received
MBA Admissions Consulting
avatar
Joined: 26 Dec 2008
Posts: 2428
Location: Los Angeles, CA
Followers: 72

Kudos [?]: 528 [1] , given: 0

Re: Business Development [#permalink] New post 20 Jan 2009, 18:01
1
This post received
KUDOS
The compensation structure can be a strong indicator of what kind of "business development" role.

If a large chunk of the comp is "bonus" or "% of the deal" (in excess of 30%) it's basically a sales job. If it's more a traditional salary + modest fixed bonus and/or stock then it's more finance/strategy/overhead - you're providing a supporting function to the core activities of the business (engineering, sales).

It's not kosher to ask upfront comp figures, but even asking the recruiters how the comp is structured will tell you a lot about what kind of job it is.
_________________

Alex Chu
alex@mbaapply.com
http://www.mbaapply.com
Follow me on Facebook

Current Student
avatar
Joined: 18 Jun 2009
Posts: 367
Followers: 4

Kudos [?]: 30 [0], given: 21

Re: Business Development [#permalink] New post 22 Jun 2009, 06:31
Is Business Development different from Corporate Development?
VP
VP
User avatar
Joined: 28 Feb 2008
Posts: 1323
Schools: Tuck
Followers: 6

Kudos [?]: 117 [0], given: 6

Re: Business Development [#permalink] New post 22 Jun 2009, 11:19
Class2012 wrote:
Is Business Development different from Corporate Development?


From what I've gathered Corporate Development is typically more centered on finance.

However, it seems like there isn't any consistency in the naming of these positions. I've seen a few corporate development positions that have nothing to do with finance (more in-licensing).

I also talked to an alum who works in business dev (biotech) and he said you can't tell anything by the title of the position. It varies too much company to company.

RF
_________________

Get the best GMAT Prep Resources with GMAT Club Premium Membership

MBA Admissions Consulting
avatar
Joined: 26 Dec 2008
Posts: 2428
Location: Los Angeles, CA
Followers: 72

Kudos [?]: 528 [0], given: 0

Re: Business Development [#permalink] New post 22 Jun 2009, 11:31
Class2012 wrote:
Is Business Development different from Corporate Development?


As refurb said, it varies from one company to the next.

One way to gauge it is the compensation.

If a large chunk of your total compensation (i.e. 30-100% of base) is in the form of year-end bonuses, then the "business development" job is more of a sales role, where your comp is dictated by your ability (or your group's ability) to bring in business for the firm.

If the total compensation is relatively fixed (or there is a modest bonus - around 10-20%), then it's less of a front office role and is more akin to "corporate development" (i.e. internal consulting).

In fact, outside of Wall Street, that is usually how compensation works -- when bonuses are multiples of your base salary, it's a sales job.
_________________

Alex Chu
alex@mbaapply.com
http://www.mbaapply.com
Follow me on Facebook

Retired Moderator
User avatar
Joined: 18 Jul 2008
Posts: 997
Followers: 8

Kudos [?]: 77 [0], given: 5

Re: Business Development [#permalink] New post 02 Feb 2010, 07:36
Great topic.
I have a few questions.

1. What are the exit opportunities for business development/corporate development roles?

2. What is the usual career track? Does experience this take you up to a CEO for example?

3. Also, what is the typical starting compensation for these roles within the financial services in NYC for a Bulge Bracket?

4. How does hiring work during the MBA season?
1 KUDOS received
Current Student
User avatar
Joined: 04 Nov 2009
Posts: 124
Schools: Tuck - Class of 2012
Followers: 2

Kudos [?]: 43 [1] , given: 1

Re: Business Development [#permalink] New post 02 Feb 2010, 09:19
1
This post received
KUDOS
bigfernhead wrote:
Great topic.
I have a few questions.

1. What are the exit opportunities for business development/corporate development roles? I would say business development/corporate development roles usually are the exit ops. You see a lot of people going into these roles out of banking instead of going to bschool, or after bschool having some stint in banking. In my experiences, corporate development deals more with internal m&a and direct investing for the company, where BD is more a sales oriented role, or doing deals such as licensing etc.

2. What is the usual career track? Does experience this take you up to a CEO for example? BD not as much as CD. Corporate development roles usually have a strong strategy component as you are dealing with m&a transactions that can significantly impact your company's success and future. An example of someone in CD being in line for CEO spot would be Ned Hooper from Cisco. He was in the corporate development department and is now chief strategy officer.

3. Also, what is the typical starting compensation for these roles within the financial services in NYC for a Bulge Bracket? A bulge bracket bank? Not sure exactly what this role would be... Corporate development doesnt exist as much as they have ibanking operations, business development not so sure either.

4. How does hiring work during the MBA season?
Im a current applicant so cant help on this one.
Retired Moderator
User avatar
Joined: 18 Jul 2008
Posts: 997
Followers: 8

Kudos [?]: 77 [0], given: 5

Re: Business Development [#permalink] New post 03 Feb 2010, 07:53
So if once you work in corporate development, it's impossible to make the transition to PE/VC?

Ginetta wrote:
bigfernhead wrote:
Great topic.
I have a few questions.

1. What are the exit opportunities for business development/corporate development roles? I would say business development/corporate development roles usually are the exit ops. You see a lot of people going into these roles out of banking instead of going to bschool, or after bschool having some stint in banking. In my experiences, corporate development deals more with internal m&a and direct investing for the company, where BD is more a sales oriented role, or doing deals such as licensing etc.

2. What is the usual career track? Does experience this take you up to a CEO for example? BD not as much as CD. Corporate development roles usually have a strong strategy component as you are dealing with m&a transactions that can significantly impact your company's success and future. An example of someone in CD being in line for CEO spot would be Ned Hooper from Cisco. He was in the corporate development department and is now chief strategy officer.

3. Also, what is the typical starting compensation for these roles within the financial services in NYC for a Bulge Bracket? A bulge bracket bank? Not sure exactly what this role would be... Corporate development doesnt exist as much as they have ibanking operations, business development not so sure either.

4. How does hiring work during the MBA season?
Im a current applicant so cant help on this one.
Current Student
User avatar
Joined: 04 Nov 2009
Posts: 124
Schools: Tuck - Class of 2012
Followers: 2

Kudos [?]: 43 [0], given: 1

Re: Business Development [#permalink] New post 03 Feb 2010, 08:48
bigfernhead wrote:
So if once you work in corporate development, it's impossible to make the transition to PE/VC?


I dont want to speak in absolutes, but generally speaking:

CD you could have a shot at VC, but you better be in a blue chip CD group such as cisco, intel, google etc. It will be up to you how much you network with your VC counterparts to make the switch.

For PE, this would be an extremely uphill battle (more than it usually is). Its not a traditional feeder into PE, you would be better off going to banking and then trying to switch.

If you want to go to VC/PE, I would try to get there right out of school, corporate development isnt really a stepping stone to either of these industries.

That being said, from the people I know, corporate development can be a very fun and rewarding career path. Less money than banking, but much less stress and hours as well.

Good luck!
Retired Moderator
User avatar
Joined: 18 Jul 2008
Posts: 997
Followers: 8

Kudos [?]: 77 [0], given: 5

Re: Business Development [#permalink] New post 03 Feb 2010, 08:59
Good perspective.

I've pretty much decided I can't make the hours in IB, and I don't have the experience prior to make it into IB/PE anyway - so give Corporate Dev since it seems to fit more for me.

Do you know the starting salaries/bonus for Blue Chip firms for BD/CD?

Ginetta wrote:
bigfernhead wrote:
So if once you work in corporate development, it's impossible to make the transition to PE/VC?


I dont want to speak in absolutes, but generally speaking:

CD you could have a shot at VC, but you better be in a blue chip CD group such as cisco, intel, google etc. It will be up to you how much you network with your VC counterparts to make the switch.

For PE, this would be an extremely uphill battle (more than it usually is). Its not a traditional feeder into PE, you would be better off going to banking and then trying to switch.

If you want to go to VC/PE, I would try to get there right out of school, corporate development isnt really a stepping stone to either of these industries.

That being said, from the people I know, corporate development can be a very fun and rewarding career path. Less money than banking, but much less stress and hours as well.

Good luck!
Current Student
User avatar
Joined: 04 Nov 2009
Posts: 124
Schools: Tuck - Class of 2012
Followers: 2

Kudos [?]: 43 [0], given: 1

Re: Business Development [#permalink] New post 03 Feb 2010, 09:50
bigfernhead wrote:
Good perspective.

I've pretty much decided I can't make the hours in IB, and I don't have the experience prior to make it into IB/PE anyway - so give Corporate Dev since it seems to fit more for me.

Do you know the starting salaries/bonus for Blue Chip firms for BD/CD?




Figure on 90-115k depending on your background and company, with bonus being 15-30k, again depending on the company and your experience. If there are incentives for deals etc, could be more.
Manager
Manager
User avatar
Joined: 12 Oct 2009
Posts: 132
Schools: Booth class of 2013
WE 1: 6 yrs product development (tech)
Followers: 11

Kudos [?]: 47 [0], given: 23

Re: Business Development [#permalink] New post 18 Jan 2011, 10:51
This is great info, folks. It sounds like one may want to focus on the following areas in the MBA, for BD/CD
Business Development: Strategy, Marketing
Corporate Development: Strategy, Finance

And if you're interested in keeping your options open between the two, that's three concentrations you need!

Any idea which schools are better at placing non-IB/non-MC students in BD/CD post-MBA roles? From the employment reports, it looks like most schools only place a small number in these roles (Kellogg - 4% => ~22 MBAs, Booth - 2.2% => ~12 MBAs), but it's hard to gauge whether these students were in IB or MC pre-MBA.
_________________

My profile
My GMAT experience

Intern
Intern
avatar
Joined: 26 Mar 2010
Posts: 48
Followers: 0

Kudos [?]: 7 [0], given: 5

Re: Business Development [#permalink] New post 22 Apr 2011, 08:15
Great/informative topic. Thanks for all the input!

I'm also curious as to what schools and their respective programs would be better suited for people interested in pursuing CD/BD. Thanks in advance!
Current Student
avatar
Joined: 12 May 2011
Posts: 98
Location: United States
Concentration: Finance, Marketing
GMAT 1: 730 Q47 V44
GMAT 2: Q V
Followers: 1

Kudos [?]: 14 [0], given: 4

Re: Business Development [#permalink] New post 13 May 2011, 16:29
i'm also considering bd post-mba. is there a better concentration to focus on for bd placement, as in finance, strategy or marketing? and more specifically, for bd at a biotech or pharma, is a science background prior to going back for an mba necessary?

thanks in advance for the help.
Manager
Manager
avatar
Joined: 26 Feb 2011
Posts: 64
Followers: 0

Kudos [?]: 3 [0], given: 2

Re: Business Development [#permalink] New post 12 Jun 2011, 23:32
AlexMBAApply wrote:
Class2012 wrote:
Is Business Development different from Corporate Development?


As refurb said, it varies from one company to the next.

One way to gauge it is the compensation.

If a large chunk of your total compensation (i.e. 30-100% of base) is in the form of year-end bonuses, then the "business development" job is more of a sales role, where your comp is dictated by your ability (or your group's ability) to bring in business for the firm.

If the total compensation is relatively fixed (or there is a modest bonus - around 10-20%), then it's less of a front office role and is more akin to "corporate development" (i.e. internal consulting).

In fact, outside of Wall Street, that is usually how compensation works -- when bonuses are multiples of your base salary, it's a sales job.


Hey Alex,

I was intrigued by your comment that Corporate Development is akin to Internal Consulting. I looked up the internal consulting units of two tech firms and this is how the career path is laid out: Work in different lines of business for the first 18-24 months (rotational assignments of six months each approx) and then transition to a general management role.

I am looking at these internal consulting units since I want to stay in the industry post-MBA (I have done Pre-Sales Tech and Telecom Consulting) and progress to a position of greater responsibility in the near future. Based on what you wrote above, what are the most likely job titles I should be looking at? So far, I restricted my search to firms which state specifically that they recruit for "Internal Consulting" units.

Cheers,
Re: Business Development   [#permalink] 12 Jun 2011, 23:32
    Similar topics Author Replies Last post
Similar
Topics:
5 Business Development isa 18 18 Jan 2009, 11:15
2 Experts publish their posts in the topic Consulting OR Business Development for Career? BlueRobin 4 22 Jan 2012, 09:12
Product management into business development Matador1985 1 15 Oct 2010, 15:05
Experts publish their posts in the topic MBA Schools for developing family businesses cpcalanoc 1 24 Aug 2005, 20:31
Experts publish their posts in the topic MBA Schools for developing family businesses cpcalanoc 1 24 Aug 2005, 00:48
Display posts from previous: Sort by

Business Development

  Question banks Downloads My Bookmarks Reviews Important topics  


cron

GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.