Corp Dev Manager Market Comp
What is current rate on corp dev managers, assuming HCOL (SF/NY/BOS)?
Let's assume this is 4 yoe + current associate level corp dev work
My guess would be something like: ~$150k base + 20% bonus + equity (although I don't count this that much tbh)
What are others seeing in the market right now? I have a recruiter call tomorrow, so I can ask for his pov on market currently
Recent corp dev mgr coming from 3 YOE, and just finished 2nd year analyst stint (have work experiences prior).
Base 165K with target bonus of 10% at F100 tech company at a HCOL. You can definitely push for more than 150K base.
Thx - that is helpful. The % base feels low? Any equity comp as well?
Yeah, the 10% hasn't been fully verified as I've yet to be paid out any bonus given my short tenure. That said, it was the verbal expectation set by the hiring manager. He said could be more or less, but best to expect ~10%. No other compensation other than your typical benefits.
That said, we're on the less acquisitive side (we still evaluate a lot of opps) and WLB is great (last two month average 30-40 hours).
Seems broadly reasonable for all-in comp but ultimately depends on the exact responsibilities
4YOE coming out of banking/PE would command more
4YOE in something else likely less
We pay associates around that much and they have 1-3 YOE in banking mostly. I expect them to have great technical skills and work product starting out, and my role is to manage that and teach them how to think more holistically about projections and the deal and messaging around that, and get them running small parts of it.
Spot on to what I would expect from my company (tech R&D Tier-2 city) so maybe a bit more in comp due to NYC offset by industry?
PM me the recruiters take, interested to hear what comments are out there
You typically wont see equity until the Director level.
Comp is also all over the place. Here are my data points:
2020 - HCOL - MF PortCo - Manager $140k + 25% no equity
2022 - MCOL - LMM PortCo - Manager $110k + 50% based on EBITDA goal. (Regretting taking this one, expecting total bonus to be like $20k this year)
Recently started putting out some feelers:
2023 - Remote - Public Healthcare - Manager - up to $200k base, still waiting on more info from recruiter
2023 - Midwest - LMM PortCo - Director/VP - $120-$140 + 50-60% + Equity
Linkedin Postings - HCOL - Manager - $110-140k range typically, sometimes see $120k-$160k listed
Thanks - interesting data points, and sucks to hear about the EBITDA target related goal, but I am sure there will be bounce back soon
For reference, I'm at PE Portco-HCOL as an Associate doing ~$135k TC + UARs
Spoke to a recruiter on Friday who mentioned within high-growth industries (i.e., software) for PE portco's that Manager comp has bounced from 200 - 250 and Senior Manager comp is ~300 - 350. To be honest, I'll believe it when I see an offer like that because it sounds too high tbh. That said, I think I am going to start putting out feelers as well and trying to land in ~$200 cash comp range
That 2023-Midwest-LMM Portco - Director / VP comp is kinda brutal tbh. ~$200k cash does not cut it at that level IMO but I guess that's probably where the (1) Midwest and (2) LMM part tie in
Which recruiters do you work with?
Where are you finding these roles?
Coming from MM PE it's frustrating that comp is that low and several roles I see it mixed it with FP&A.
Roles I've been approached/applied to:
Midwest - roll ups
Director - $130k base, no equity- wouldn't stretch to $175k
Director/VP - $130k base, unsure of equity, wouldn't stretch to $190k base as CFO was close to that
South: SVP & Fp&a 130-150k base unsure of bonus, sounds like profit share, pushing for higher
Remote: 70-150k base depending on experience, awaiting 1st round interview call.
Pittsburgh: VP: 130-150k base
VP with 130-150K base? That doesn't even sound real. At least now I have a comp to point to so my wife will stop bugging me about moving to Pittsburgh.
Feels a tad low but for roles past manager I'd really be looking at total comp.
For example, my base is in that range, but it's also less than half my total package. In my situation it's fine because I have relatively modest monthly expenses (single w/ relatively low housing/car costs), though for folks with families it may not be as attractive of a structure. To me it's a form of idiot insurance / forced savings in I don't have immediate access to buy random stuff.
I will say my message to recruiters has been I'm fine taking a possible slight haircut on total comp if there's a lot of cash/guaranteed bonus, though.
Would you consider HCOL/VHCOL areas? Not sure what level you are, but assuming associate/VP in PE making ~300-500k (complete guesses lol), what sort of paycut could you stomach for the corporate route and how do you assume the hours and wlb will be?
150 base, targeted 10-15K bonus plus a chunk of stock that’s vests over time
Most of the ranges in this thread mirror my experience as well. In my experience, the way to maximize comp for corp dev is to either work in tech or for a PE PortCo. The sad thing is that for most companies, corp dev is and will always be just a expense that is kept in line with strict salary bands (i.e., you might be a corp dev manager, but you will still be in the same salary band as an FP&A manager or tax manager). Tech companies seems to regularly post roles online, but I have never been interested because SF is not somewhere that I want to live. For PE corp dev roles, most of the typical PE recruiting firms also do PE PortCo recruiting (spend ten minutes search WSO, you'll find lists...Amity Search is one of the biggest for PortCo recruiting)- just sign up on their websites to be part of their email distributions.
That being said...don't mention your salary requirements. Also turn the tables and ask what the role is budgeted for. You may be surprised how much some roles are budgeted for.
Commenting for future reference.
FWIW, FP&A Manager at Portco, expensive suburb of LCOL, 8 YOE (6 in big 4 audit, 2 in current role)
145K base, 20% bonus, one time equity grant vesting over 5 years, estimated ~30% of base annually
So ~$220k all-in? That’s great. How’s your wlb?
WLB is good, I average 45-50 hours a week probably. Busier 60-70 hour weeks when we have transactions, quarter-ends, and unfortunately with my audit background I'm very involved with the audit and other technical accounting. I haven't had more than 2 or 3 consecutive weeks over 60 hours so it is very manageable.
Placeat sed rerum quaerat soluta enim. Fugiat occaecati ducimus officia consequatur cumque et impedit.
Voluptatum unde aliquid eius quasi. Ratione possimus sit repellat et in repellendus eum corrupti. Officia cumque adipisci cum ut. Optio et veritatis est ut labore et maiores. Qui est provident laborum nobis provident et consectetur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...