If the bully is just immature, lacking self-confidence or attempting to make up for a perceived lack in some quality-or-other, he/she can usually outgrow the the behavior. A person like this can actually become more sensitive of people's feelings then the average person. read more
A lot of the time they end up continuing to be bullies. Work in middle management, get jobs as school teachers, anything that gives them a little bit of power. Or they marry someone and bully them. Bullies are cowards and they aren't exactly smart, so they're not incredibly self aware. read more