I’m currently recruiting for biotech ER seats and hope to land something in 1Q24. I have 1 YOE in equity research in a healthcare group (not biotech). Additionally I have an MD and am fully licensed.
My question is what comp should I negotiate for (base + bonus). I’m thinking of asking for 150k + 50k bonus. Am I over shooting or undershooting here? Only asking because I’ve seen comp all over the place in biotech ER.
Pls help thanks in advance!
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Based on the most helpful WSO content, the compensation for a Biotech ER role can vary widely depending on the firm and the city. However, to give you a ballpark figure, a user with 2 years of experience (2.5 years out of undergrad) reported a compensation of $125K base with an $85K bonus for the year 2022 in NYC.
Given your 1 year of experience in equity research and your additional qualifications (MD and full license), your expectations of $150K base and $50K bonus do not seem unreasonable. However, it's important to note that compensation can be highly variable and is often negotiable.
Remember, it's not just about the numbers. Consider the whole package including work-life balance, growth opportunities, the firm's culture, and your passion for the role. Good luck with your negotiations!
Sources: ER Compensation 2022/2023, What would you ask the CEO of a company you're looking to invest in?, How concerned should I be?, What should I expect for virtual investment research internship?, What is the Total Comp Range for Vp's In ER?
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Comp for associate usually doesn’t vary much across sectors and banks. $125-$200k is the normal base for associate 1 to the most senior associate, depending on the bank. And I doubt you can negotiate on bonus (usually 25-50% of the base) unless you’re a lateral hire and the senior analyst really sees you as the best candidate. Anyway, what you’re asking seems reasonable.
Doubt that. I’ve heard from some biotech people they made more as associates than VPs in other sectors
First year biotech associate total comp should be $175-200k on decent team. With 1 year exp, I’d expect $200-$230k.
Biotech/TMT make more than others in general no doubt. The problem OP has is that s/he is not coming from a position of strength so it’d be difficult to negotiate on bonus. It really depends on whether the OP is being recruited by the HR/HH or if s/he applied to the role directly.
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