Investment Banking Exit Strategies
Episode 17 | April 28, 2025
In Episode 17 of the Coffee Chat podcast, Adventis host Ben sat down with Michigan State sophomore Colin Davis to talk about investment banking exit strategies. Colin, who is pursuing a career in investment banking or real estate private equity, also brings an entrepreneurial perspective from running his own property services business in Ann Arbor.
Ben emphasized a key insight early on: “The hardest part isn’t building skills, it’s figuring out what you actually like.” While technical skills are essential, the motivation to pursue a particular path will naturally drive mastery and long-term success.
Common Exit Paths for Investment Bankers
When analysts look beyond investment banking, private equity often dominates the headlines. Ben noted that “50% to 75% of analysts may exit into private equity, depending on the bank,” but this is far from the only option.
Other popular exit strategies include:
Corporate Development (Corp Dev): Analysts transition into lean teams inside corporations, advising on mergers, acquisitions, and strategic initiatives. These roles often provide hands-on exposure to C-suite leaders.
Corporate Finance: Opportunities at both large and mid-market firms allow former bankers to leverage their modeling and analysis skills while gaining broader exposure to company strategy.
Entrepreneurship: Some analysts use their banking foundation to launch ventures of their own. Colin himself envisions moving into entrepreneurship after gaining industry experience.
Ben highlighted that mid-market opportunities are often overlooked: “If you get into the right middle market business, you can move quickly into director-level roles and even the C-suite.”
Building Relationships That Last
Colin asked how to turn short networking conversations into authentic, long-term relationships. Ben’s advice was clear: focus on giving rather than taking. He explained, “The easiest thing you can give is an update. If someone’s advice helped you land an internship, send them a quick note to say thank you. That small gesture builds trust.”
Other ways to strengthen connections include congratulating contacts on promotions, acknowledging completed deals, or following up with thoughtful insights. The key, as Ben noted, is consistency and sincerity.
How Adventis Helped Colin Excel
Colin credited Adventis’s Financial Modeling Certification® (FMC®) Program with giving him an edge in his first investment banking internship.
“It taught me how to look at financial statements in general and what a financial statement should look like,” he explained. By mastering the mechanics of Excel and financial models early, Colin was able to finish assignments more quickly and take on additional work.
The program also improved his networking effectiveness. Shortening his outreach emails, based on Adventis’s guidance, significantly increased his response rate and helped him build a stronger professional network.
Standing Out in Internships
Finally, Colin asked what interns can do to position themselves for return offers. Ben stressed two key points:
Take Notes and Add Value: In large meetings, listen actively and record details meticulously. This allows you to provide clarity in smaller team discussions.
Volunteer for More Work: Don’t wait for tasks to be assigned. Proactively offer to help. “If no one’s ever told you no,” Ben advised, “then you haven’t offered enough.”
By consistently showing initiative and reducing risk for senior team members, interns can build trust, earn respect, and improve their chances of landing return offers.
Take the Next Step in Finance:
Ready to build the technical skills top firms demand? Enroll in the FMC® Program
