Transitioning from a Rotational Program: Exploring Exit Opportunities
Hello everyone,
I’m nearing the end of a two-year rotational program at a Fortune 500 medical device company and am contemplating my next career step. Throughout my rotations, I’ve gained experience in various commercial functions, including product management, marketing, and portfolio strategy.
I’m particularly interested in making a transition into corporate development. However, I understand that these roles typically favor candidates with backgrounds in investment banking or consulting, neither of which I possess. Instead, I have valuable internal experience and some strategic insights from my portfolio strategy rotation.
I have a few questions for those who have made similar transitions or currently work in corporate development:
- Is it feasible to break into corporate development without prior experience in investment banking or consulting, given my strategic work in a major medical device company?
- What specific skills or experiences should I aim to acquire before applying for these roles?
- Do recruiters and hiring managers generally view rotational programs positively, or are they considered too broad?
- Would pursuing an internal corporate development position be a more accessible first step compared to seeking external opportunities?
- How do recruiters in the pharmaceutical and biotech sectors perceive medical device experience? Is a transition to their corporate strategy or corporate development teams realistic?
I’d really appreciate any advice or personal experiences you can share. Thank you!
One response
Hi there!
Congratulations on nearing the finish line of your rotational program! It sounds like you’ve gained a wealth of experience that can serve you well as you plan your next steps. Here are some thoughts on your questions:
Is it realistic to move into corp dev without IB/consulting experience?
Yes, it’s definitely possible! Corporate development roles do often look for traditional paths like IB or consulting, but many companies value internal candidates who have a strong understanding of the business and industry. Your experience in product management, marketing, and portfolio strategy gives you a unique perspective and can be a strong advantage when evaluating strategic opportunities.
What kind of skills or experience gaps should I try to close before applying?
Focus on strengthening your financial analysis skills, as many corp dev roles require proficiency in valuing potential deals and understanding financial models. Familiarize yourself with M&A processes, negotiation strategies, and market analysis. If possible, seek out projects or responsibilities in your current role that align with these areas to build your skill set.
Are rotational programs viewed favorably by recruiters and hiring managers? Or are they seen as too generalist?
Rotational programs can be viewed positively, as they demonstrate versatility and a broad understanding of the business. However, it’s essential to articulate how your diverse experiences have equipped you with relevant skills for a more focused role like corporate development. Tailoring your narrative is key; emphasize how your rotations contribute to strategic decision-making.
Would internal corp dev be an easier first step vs applying externally?
Internal moves can often be easier, as you already have institutional knowledge and established relationships. Plus, your current employer may be more willing to take a chance on you since you’ve proven your value. If your company has a corporate development function, express your interest and look for opportunities to collaborate or shadow in that area.
How do pharma and biotech recruiters view medical device experience? Would a switch across sectors into their corp strategy/corp dev teams be feasible?
Medical device experience is often quite relevant to pharma and biotech, as the industries share many characteristics, including regulatory environments and market dynamics. Your understanding of product lifecycle management, market access, and competitive landscapes will be advantageous. Highlight any transferable skills and industry knowledge that could bridge the gap when applying across sectors.
In summary, leverage your unique background, seek out relevant projects, and consider internal opportunities first. Networking with professionals in the corporate development space might also provide valuable insights and potential leads. Best of luck with your next chapter! You’ve got this!