Starting a new job is always a big event in the corporate world -- for those making the change, for those who wonder who their new boss is going to be, for those who fret over how the work is going to get done and even for those who get the gift of a new topic to gossip about in the hallways.

At the moment, however, it's of largest importance to me. Having recently moved to a new job -- making the leap not only to a different company, but also to an entirely new industry and role -- I am now exploring the question of whether those unique skills we corporate dealmakers develop and hone in one setting are valuable in another.

There's no doubt the M&A department is a particularly leafy bower in the corporate tree. Typically a small, smart group, it enjoys great visibility and influence in the organization. Nonetheless, for many, corporate development is a mid- to late-career stopping point, not a destination in its own right. From the M&A analyst who wants a more senior role in finance to the head of M&A who wants to run the whole company, corporate development professionals may have any number of reasons for moving on.

There's also the reality that companies in acquisitive industries may be targets themselves. And if there's one thing close to a lock in a merger shakeout, it's that the acquired company's corporate development team will be among the first people to go. If you're the buyer, they are simply an easy-to-realize G&A synergy, much like the target's CEO. If you're the seller, well, there's some truth to the saying that familiarity breeds contempt. Getting to know the acquirer through the tortured process of selling your company is quite likely to make you want to go someplace else once it's sold.

But where to go? The consensus seems to be that private equity would be nice, but jobs there are few. Investment banking, despite being the launching pad for many a corporate development career, is simply not appealing. That leaves development roles in other companies or the (possibly uncomfortable) question of whether our experiences are more broadly applicable. Well, I say they are. Consider:

Financial models. Even if you're not the Excel whiz, working through models will ground you in how businesses are valued and how they project growth. If nothing else, you get schooled in the realities of garbage in, garbage out. The resulting skepticism toward all long-term business projections -- particularly when it comes to new lines of business and dynamic situations -- serves well in any senior finance role.

Due diligence. While electronic data rooms have taken some of the sweaty desperation out of diligence review, there are few comparables in the working world to being on either end of a diligence process. Diligence, moreover, teaches a lesson that goes a long way for any manager: Most little contingencies don't matter to the health of the business and should thus receive very little attention. A very small number will matter a great deal and thus must be dealt with at all costs. The critical skill is being able to tell the difference between the two.

Negotiating and agreements. This area carries over well for JD dealmakers who make a return to the law, and negotiating experience is good for us all. But this is also one area where development types need to unlearn some bad habits. Most development deals call for a level of negotiating rigor and legal attention that isn't universally applicable. Don't make the mistake of arguing late into the night over the last dollar in a minor supply deal -- or wonder, as I did in the first week in my new job, why you aren't getting a duplicate original of a short-term contract for computer help-desk support.

As for me, I'm happy to be getting up to speed on Internet syndication deals and experiencing life in a startup. Despite the idiosyncratic nature of M&A work, I remain a believer that the process of valuing companies and understanding the levers that drive corporate growth will help give people a big-picture view that should be a recipe for success in just about any role. - Josh King

Josh King is vice president, business development and general counsel at Avvo Inc. in Seattle. You can find more of his writing on his blog at corporatetool.blogspot.com.

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