Take a Pay Cut for Corp Dev or Hold Out for Something Better?
I’m a few years out of undergrad at a target. I spent a year in IB at a boutique and have since been in a strategic finance role at a mid-sized public company. My current role spans long-range planning, FP&A, some investor relations, and early-stage corp dev modeling. I work fully remotely, average 35 hours/week, and make $180-190k total cash comp. I have pretty low expenses and solid savings.
Option 1: Stay
My company isn’t acquisitive or well-known. I’m not getting end-to-end deal execution, but the role is broad and visible. Recently doing more external-facing IR work (earnings prep, investor Q&A, conferences), which is a nice change but I don’t want to do IR long term. That said, I’m not excited about the specific industry, learning has slowed, and full remote has me feeling isolated.
Option 2: Leave
Corp dev senior analyst at a large public company in a traditional industry that's trying to modernize (think logistics/industrial shifting into tech). It’s hybrid, ~50 hrs/week, $40-50k lower comp. Large team of mostly ex-bankers. 1-2 deals and a couple strategic projects per year.
Long term, I’m aiming for VC/growth equity or top-tier corp dev at a company I’m more passionate about. Trying to decide if I take this for the deal reps, structure, and brand upgrade, or hold out for something else more in line with my current comp.
This sounds like a case of the grass is greener. You have a pretty good setup and I would only leave for something more comparable. You have the luxury of being picky and something will come along that hits everything - it just might be a little while. You’re also recruiting in a not so favorable environment, so please keep that in mind.
Curious what makes you say I have the luxury of being picky in an unfavorable environment? How feasible is it to find something else that hits everything (deal reps, brand, similar comp) and that I'd be competitive for? Totally fair that I have a good setup, however my worry is that the tradeoff is long term opportunity cost. I might end up waiting a year+ for a role like this and risk my resume going stale.
Your comp is above market for your experience despite what people may claim on here. Stay put where you are. Especially if it's not NYC COL since you mention HCOL yet low expenses...if so, it's a no brainer.
How long were you in both roles? This sounds exactly like me both in background and contemplating the same next steps. I make less than you though so not sure I'd even need a paycut, but thinking of switching to a more corp dev focused role as well. My current role sounds like the same split as yours, and the long rang planning is cool enough the first few times and investor relations can get pretty interesting, but my main goal moving forward is to not get stuck in "cost focused" roles like pure FP&A roles and going down that path in the long term. Curious what others say.
My two cents: Never take a pay cut. It's hard to earn that money back. Now, life isn't all about money of course, but the extra income now makes a world of difference in 20 years when you decide you're done busting your ass.
As for your current role's actual duties; who is running the deal process (when there is one)? What are your interactions with them and what is your relationship. Perhaps you can push to get more involved. If your company really values you then you should have some leeway to push for learning opportunities outside of your day-to-day.
I just don't think giving up $40-50K annually is worth it to go to a firm that only closes 1/2 deals a year. I'm not sure that get you any closer your VC/GE goal.
Are you referring to people in IB switching over? If so, literally don't think that's possible.
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