Has anyone had any data point on recent salaries for Biotech ER associates with PHD/MD and 1-2 years' experience in a top team at BB? This sector is just very different from others and online data are not very comparable.
Thanks!
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I have 3 data points on my ongoing salary survey: $125k-$175k is the range. I don't know whether the submitters have MD/PhD.
I work at a middle market with a PhD and recruiters have given 150,000 USD base for other middle market firms. But it’s highly dependent on the analyst and if they can get the firm to pony up the cash. I don’t think there are standard rates for those with PhDs.
My friend has a similar background at a middle market healthcare focused shop with a PharmD background. NYC: Base USD 140k with 60-70% bonus last year. I am sure if you have a doctorate, there won't be differences in your salary regardless if you are a MD, PharmD, or a PhD for equity research at an investment bank.
My friend who works at a MM firm friend told me that they received a new base of $130k, bonus $45k, which represents 34% of the base..... Seems like most firms count bonus as a % number of folks' base rather than a flat number?
Why do you even want to go into biotech. It just seems like a auto pilot position. But I wouldn’t be surprised if there are many lazy ass fraudsters in this space.
I think because people come to finance and banking from different backgrounds.
I guess MD can read clinical trials and biostatisitcs and have scientific judgment on a product (drug, medical device , diagnostic, surgical device) better than others.
An engineer with tech or energy background has indepth knowledge of tech and energy sector.
A banker has better knowledge on fintech, banking sector.
A quant has indepth knowldge of market behaviour statistically/mathematically. Model based or machine learning.
Isnt fundamental analysis is all about indepth knowledge of your company. ?!
Depends what kind of bank you are at. If you are at a bank like Leerink, ~130k base, ~70k bonus with those kinds of credentials. +/- 10k on both ends probably depending on how competitive you are and if you have competing offers
I appreciate that you said "data are" btw
hahaha...funny
I don’t know how everyone is coming up with their numbers and they don’t sound right to me at all. OP asked for Top BB and I know for a fact that JPM for example is $175,000 for associate 1 and that’s not even considering a PHD. If you’re unlucky enough you go to BAML and still make $150,000. GS 175,000, UBS i believe 175,000.
Basically bottom line is I wouldn’t take anything below 175,000 but any offer below 150,000 are just straight up insulting given the market.
Thanks for the data point. Is it just base?
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