Comments (50)

  • Director in CorpDev
Nov 15, 2022 - 10:51am

Above matches my experience. Progression I've seen is something like this. Note this is not in tech, which may be more generous. Could also be lower than HCOL areas like NYC / SF. Finally, may be slightly lower than in bigger groups where promotions are typically 3+ years apart.

Sr Analyst - base 100, bonus target 15%

Manager - base 120, bonus 15-20%

Sr Manager - base 150, bonus 20%, equity starts becoming potential possibility ($30k maybe at this point)

Director - base 175, bonus target between 20-30% plus some equity

Sr Director - base 200, bonus target 30%, more substantial equity for sure by now if not at Director level (equity could be in ballpark of ~$100K)

VP - base 250, bonus 40% plus equity

  • Associate 1 in CorpDev
Nov 15, 2022 - 1:28pm

Title: Corp Dev Associate

Comp: $130k salary, 15% target bonus, small amount of RSUs

Background: BB IB

  • Associate 1 in CorpDev
Nov 15, 2022 - 2:44pm

During deal crunchtime, hours are closer to banking (70 hours a week) for brief periods of time but there is a lot more variance in hours outside of that. Sometimes 20 hours, sometimes 50 hours, sometimes in between, depending on the deliverables and projects. I'm mostly WFH and there is no facetime even when in the office, so usually have plenty of time to take longer lunches, run errands, etc throughout the day. 

  • Summer Associate in Consulting
Nov 18, 2022 - 1:47am

Looking into Corp Dev after consulting; what type of work you focused in Consulting? (Commercial DDs, Growth Strategy, M&A Strategy/Integration, Restructuring etc). Also if you don't mind MBB or T2?

Going to a T2( LEK/EYP/S&) and wondering what to focus on.

  • Associate 1 in CorpDev
Nov 18, 2022 - 10:44am

So I was at a T2 (not an ideal one, and this is as specific as I am comfortable getting), but it was a very uphill battle. It makes 1000x more sense to hire an IB Analyst than it does a consultant, so expect it to be challenging to make the transition. If I had not had multiple IB internships I likely wouldnt have gotten the role. I got beat out by bankers for the first 3 positions I interviewed for, not even making it to the second round, with them citing experience each time (Out of the last 20 positions Ive interviewed for, these were the only ones where I didnt make it to the second round). 

I found a mid-sized company (~5-10 bn EV) willing to take a chance on me but the downside was I got horrible pay. Worked there for <2 years and lateraled when a recruiter reached out for a strong opportunity.

To answer your question, you want hands on modeling experience and opportunities to understand synergies and acquisition rationales. I would generally say try to do some CDD and M&A strategy, as those buckets will prepare you best. I dont know the level of modeling for some of these CDD roles, so that would play a part in determining where I focus most of my time. Avoid integration and restructuring (mainly integration). If you want a pure play Corp Dev role there will be a separate team for integration. Restructuring could be good but generally I would say is too unique and specific to be optimal experience for a Corp Dev role. There are plenty of examples as to where I am totally wrong and Restructuring actually tees you up perfectly, but I am going for a broader response. Keep in mind this is my perspective and challenge everything I said with feedback from others. 

The one thing I can say with a high degree of certainty is that you will notice that 80+% of Corp Dev associates / managers / VPs came from banking. Consultants typically move to the strategy side. If you can find a corp dev / strategy hybrid role, you would be an optimal candidate. You dont need to go in being a pro modeler, but if you cannot build a DCF, talk about the drivers for the model, and at least talk through good precedents / public comps you will struggle to receive an offer. 

  • Analyst 1 in IB - Cov
Nov 16, 2022 - 1:43pm

Sorry what do you mean by niche finance group? I'm in strategic finance and thinking of going IB -> strategic finance -> Corp Dev and wondering how hard it is to recruit if I'm not recruiting for Corp Dev from IB directly. Would 4 YoE (IB -> strategic finance) get close to 180-200k total comp? Because yours seems a lot higher than other ranges I've seen.

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  • VP in CorpDev
Nov 16, 2022 - 9:16pm

No need to apologize (shake that habit!).

The finance team I was on basically acted as support on all things Corp Dev worked on (akin to outsourcing modeling to another IB group). That was our day job but we supported a pretty active Corp Dev team which required us to moonlight as traditional FP&A folks to capture and forecast the impacts on various "Outlook" scenarios.

I think Strategic Finance -> Corp Dev is possible, especially if staying in the same industry or even better pivoting internally (your valid argument of seeing the finance side makes you a better deal person holds more weight internally). Based on your phrasing it seems you exited IB and are currently in a Finance role? If so, I don't think your chances are hurt by that at all. In fact, your odds are much better than someone like me who did BO -> Finance -> Corp Dev

I can't answer your last question for all of Corp Dev because of how much comp varies company to company and industry to industry. I can tell you that we've hired people with anywhere from 2-4 years of experience in at the associate level which probably scrapes the lower end of your range. We have Sr associate then Manager (WSO defaults it to VP I guess).

Frankly, I benefited from a good bit of luck which allowed me to come in at what I think was the upper end of what I "deserved" in terms of title and subsequently developed some really good relationships with mentors / managers here which has resulted in quick promotions. We also went through a long exercise to try to normalize compensation closer to that of MBB as we source a lot of talent from Consulting / Banking. Having collected some data on forms like WSO and anecdotally from friends / peers I do think our comp is on the upper end of Corp Dev. Take those two factors into account when comparing what I've commented vs. others.

  • Manager in CorpDev
Nov 15, 2022 - 9:34pm

Title: Manager - Corporate Strategy, Planning, and Development at one of the large public A&D companies. In Los Angeles.  

Salary: $165k, $10k sign-onbonus, ~10%+ target bonus

Background: former military officer, T15 MBA, brief A&D IB, and a year of niche A&D consulting. Role is great as it encompasses organic innovation with inorganic strategies where needed - M&A, partnerships, divestiture. Hours are dreamy and we hold the 9/80 schedule (every other Friday off). Get a lot of inquiries from friends still in IB, as well as others. 

  • Analyst 2 in CorpFin
Nov 18, 2022 - 8:53am

9/80 schedule is awesome, even if I have to work there's no meetings so I don't get bothered or disrupted.

If I'm busy trying to push things along or get a jump on some deal work to get ready before the upcoming week I'll sometimes put in a half day or something but it's definitely not expected from my team.

  • Analyst 1 in CorpStrat
Nov 15, 2022 - 11:40pm

Title: Corporate Strategy & Development Analyst at a Media & Telecom company

Comp: $85k + 6% bonus. $10k signing.

Background: Top LACs. 1 YOE management development program. Chicago

  • Summer Associate in Consulting
Nov 18, 2022 - 1:50am

Would you recommend staying at top strategy consulting shop or go directly to Corp Strat/Development out of undergrad?

  • Analyst 1 in CorpStrat
Nov 24, 2022 - 9:02pm

Is it pure strategy consulting or more like implementation, transformation, augmentation, etc... My job doesn't pay as well as consulting, but top-notch WLB, good facetime with execs, and interesting work(go-to-market strategy and acquisition/divest strategy.) We do use MBB from time to time, but for less exciting work like I/T/A or work where we need data that can't be found through CapIQ, Pitchbook, independent ER.

  • Associate 1 in CorpDev
Nov 16, 2022 - 3:48pm

Title: Sr. Corporate Development Analyst

Comp: 120K 10% Bonus, No Equity

Background: FLDP (1 Yr) -> Business Analyst (in Corp Dev Group - 2 yr) ---> Current Company w/ Promo after 8 months

~4 Year total experience 

Nov 16, 2022 - 11:13pm
dirknowitzki, what's your opinion? Comment below:

In the Southwest. Sharing some comps (own job and jobs I have interviewed for)

Current role: Healthcare

Title: Sr Manager

Role: Strategy, Business Analysis

Pay: $190k base, 20% bonus, similar in RSU. Total $265k

Role recently interviewed for

Tile: Director of Strategy with consumer products company

Pay: $170-180k base (they told me it was lower than current base), 25% bonus, $70k RSU per year. Total $290k

Title Director of M&A strategy with Healthcare company

Pay: $170k-180k base, 25% bonus, no guaranteed stock comp, total $230k. I believe there is a bit of title inflation at this company.

So based on my own experience Sr Manager probably $185k to $250k all in, Director probably $250k to $325k, Sr Director $325k to $400k. All assuming mix of base / cash bonus / RSU.

Nov 17, 2022 - 11:14am
ButteryScontch, what's your opinion? Comment below:

1st year Corporate Strategy analyst (just graduated college) at a F50 media company.

Base $90k, bonus ~10-12% (will know for sure this winter), signing bonus $20k

Don't do M&A but do essentially all of the other corp dev / corp Strat / strategic finance projects aside from that. Hoping to pivot onto wall st tho at some point after a few years here.

Nov 17, 2022 - 6:31pm
catmonkey4, what's your opinion? Comment below:

Corporate Development senior analyst at a tech & media company. $100k base + 12% bonus target

1.5 years of tech banking prior.

Nov 17, 2022 - 7:43pm
catmonkey4, what's your opinion? Comment below:

Hi! I think it's obviously a very personal / situational decision. I knew pretty quickly that IB wasn't for me, but only wanted to leave for something that felt like a really compelling opportunity. Then I was approached by a headhunter for this job - and it checked a lot of boxes for me (in the industry I wanted to be in, small team, also involves strategy work….)… so I really felt good about taking it and haven't looked back! I also was one of about 7 analysts in my class who "left early" so that def helped - and FWIW I don't think any of us regret it but again, very situational decision. Hope that is helpful context!

  • Intern in IB - Gen
Nov 24, 2022 - 8:17pm

Would you mind sharing if you were in MM / BB / EB and what you would recommend to try to find opportunities like the one you have? Currently An1 at middle tier MM and looking to eventually jump to a role that has both Corp Dev / Strategy work.

  • Analyst 2 in CorpDev
Nov 17, 2022 - 7:16pm

Title: Sr. Analyst Corporate Strategy & Development (FinTech Startup)Salary: Base - $110K Bonus - 10% Equity - $20K but early rounds still, so doesn't mean much.Background: 1 Year of MM IB in unrelated industry -> a little under 1.5 years at current role

  • Intern in IB - Gen
Nov 24, 2022 - 8:19pm

Would you mind sharing what you did to find this role? Currently MM analyst and interested in pretty much exact type of role you are currently in.

  • Analyst 2 in CorpDev
Nov 26, 2022 - 10:59am

It was the pretty standard corp dev recruiting experience - just networking and putting my resume out there. I would determine where you want to be geographically, and if there are a lot of opportunities start honing in on industry and/or company stage as well. For me, I was hard set on a specific T2 city, where I'm from, and wanted to be at a startup. Let me know any other questions you may have!

Nov 26, 2022 - 1:35am
Bunnies, what's your opinion? Comment below:

My Career so far:

  1. Analyst M&A - Healthcare Rollup - T4/5 City
    1. Year 1 (2018) - $55k + 5k bonus - 40-65 hours
    2. Year 2  (2019) - $65k + 10k bonus - 40-50 hours
  2. Manger M&A - Healthcare Rollup - NYC
    1. Year 1 (2020) - $140k + 25% - 60-80+ hours
    2. Year 2 (2021) - $145k + 25% - 60-80+ hours
  3. Manager M&A - Healthcare Rollup - T2/T3 City
    1. Year 1 (2022) - $110k + $50k target bonus - Equity buy in up to $75k - 35-45 hours
Nov 26, 2022 - 2:38am
imacasual, what's your opinion? Comment below:

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Nov 26, 2022 - 5:16pm
Bunnies, what's your opinion? Comment below:

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