Corporate Strategy Salary for a Top 20 company
I'm currently working on the sell-side in research and I am mostly looking at Hedge Fund jobs. However, recently, I have found myself more interested in corporate strategy roles, but I am worried about the comp being lower.
I have close to two years of experience, and made to $180k in 2022. My goal is to make $200-250k at whichever job I transfer to this year (interviewing for a couple jobs that fit that range), and then $500k within the next 5 and hopefully continue to move higher after that.
My question is, are those numbers in any way achievable in corporate strategy? I see a job listing with a base salary of $120k-$220k (so quite a large range) + equity. It seems that this would fit my criteria for the next few years but could that scale to $500k, or close to, within 5yrs? Additionally, what would exit opportunities be from here if I do not enjoy the role as much as I think I will. Do Hedge Funds and so forth take applicants from Corp Strategy serious?
Thanks in advance for any replies.
Your near term goal is probably a little aggressive but you might be able to get close / find the perfect honey hole.
Your medium term goal, essentially doubling your salary in 5 years, it’s probably rare. The corporate world just doesn’t see that quick of growth, I’d guess you’d need 2 promotions in that period and be nearing VP or “head” of strategy to see that range.
Just my $0.02, would be curious to hear others thoughts.
Agreed with this.
I'd also point out that the top companies may not be the best place if you're looking to maximize comp/trajectory (unless it's to set up for another move potentially and you want that brand). You'll be one among many talented/motivated people with strong resumes (which isn't a bad thing tbf), which means it's harder to stand out. And CD/S is going to be one little department in a massive org, which may further diminish the prestige/"in the know" factor. All that is to say, being a big fish in a smaller pond is something to consider.
$500k is head of a smaller CD/S team or like one level below the head of a very large one. Likely you also need that M&A ability (at a company where M&A is a big deal, pun intended) or be some sort of hybrid IR / other finance lead as well, as pure strategy roles are unlikely to command that level of compensation. All the roles described are hard to get. For myself personally, likely the way to make the leap to that number would be having to move to a head of M&A for a sponsor backed roll-up, with a decent portion of effective annual comp really coming from PSU's at exit.
I don’t think corp rev or strategy pays that much unless you work for a big tech company
Be hard pressed to find 250 all in for corporate strategy. 200K could be possible if you find an mid-level (like sr. associate) position but that extra 50 is going to be hard to clear. Classic corporate firms just don't pay junior members enough in base.
All numbers below are for NYC.
Your highest comp band for Corporate Strategy type roles are going to be found in quant hedge funds like Jane Street & Two Sigma.
I recently saw a Corp Strat role at Two Sig with the 150-200 base band for an associate with 3 YOE.
Speaking from personal experience…outside of HFs, at the large sell side investment banks, think MS, BOFA, JPM, will only pay you 120k base max for Associate (3 YOE)
What are you referring to here? Do you mean working in corporate strategy for a bank, or are you referring to working as an Equity Research / Investment Banking Associate?
These are all corporate strategy numbers from my experience.
PM me if you want to chat!
Those numbers are very achievable if you move to Corporate Strategy at a large asset manager.
From my admittedly limited and young perspective, it is difficult to crack >300k all-in comp at most F500 type corps until you reach C-2 or 3 kinds of roles. By their nature, these roles are more limited and typically filled with high-performing people with 10-15+ years of experience.
What do you mean by C-2 or 3? I think you can crack 300k at the high end of Director comp, and nearly guaranteed as a Sr. Director or higher. I had access to salary info at a prior company ($20-40B revenue) and all directors had a base of at least 200k. Not sure what their bonus targets were. This was in a lower paying industry.
"C-2/C-3" in my post meaning levels below C-Suite. So "C-3" would be 3 levels below the CFO in this case.
I would agree that most Finance Directors would be within 3 levels or so in the hierarchy to the CFO/regional CFO, and I would believe that this is the level that most corporate finance professionals would begin to reliably touch 300k all-in annual comp, regardless of industry.
Director role is around 300k at the F500 company. Sr Director to Executive Director can probably get to 400k ish. 500K+ pay is typically only for VP+ level and that's 1-2 level below C-suite. VP at a corporate usually requires 10-15+yr of experience and most people could not get to that level. 99% of people get stuck at Senior Manager/Director level until they retire. I'd say you will be going in at an associate/Sr. associate level with only 2 years of experience and you'll most likely be looking at less than 200k in the next year or two until you become a manager. But at the same time, you should also be working 8-10hr less on a weekly basis.In terms of ER comp, it's very rare even for the most senior, top performing associate make pass 300K until they're about to get VP promo.
If OP is making almost 200k in ER in 2 years, how far away is VP / 300k comp from there?
Fugiat quis animi est quia et neque. Sunt et veritatis quam enim et nam sed quia. Maiores quod sit sapiente iusto alias similique et. Odio ipsam eligendi voluptatem fugiat in praesentium dolorum.
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...