Corp Dev and Strat salaries
As the title says, what level are you, what’s your background, and what’s your salary/bonus?
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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
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.
Below is Charles Aris 2H2022 Corp Dev comp report. Seems directionally in line with the rest of this thread.