Biotech ER comp
Looking to move to biotech ER from MBB. PhD background. What’s the highest realistic base salary I can ask for? Salaries listed online tend to be low compared to mbb (think I’ve seen JPM listing base of $120k, vs $220k at mbb). Dont want to shoot myself in the foot by asking something too low, but dont want to seem out of touch if asking something too high. Is $230k base a reasonable ask? Also getting offer from pharma where I can get $225-$230k base (+equity which i dont get in ER), hence my ask. Thanks
I got 200k all in first year right out of grad school. Ur mbb exp won’t give u much more imo. Maybe you’ll come in as senior associate so maybe ask for 175 base and hopefully bonus gets u 250+
This is helpful, thank you. What would be a typical annual bonus as a senior associate / AVP (% of base)?
Bonus question: do you know what the total comp trajectory for an average performer in ER is? Possible to hit $500k TC at some point?
In biotech, after 5 years I think 500k is very attainable (prob a “VP” at that point- maybe a name or two under coverage). I have a sample size (all advanced degree dudes) of like 6 across banks.
How many years have you spent at MBB? Are you an associate/consultant or EM/ Project Leader? If you have spent at least 3+ years then you can ask for the highest senior associate level base. At certain BBs that’s $200K base but lower at other firms. Base salary is based on corporate level and is non-negotiable. But you can ask for a fixed bonus for the first year (first year guaranteed , so your TC should be at least the same/ if not more than what you received at MBB. To get to $500K+ TC, you need to be a VP level+ coverage analyst. That’s 3+ ss experience with your background plus a lot of luck.
Leaving from MBB to biotech er is crazy
I’d generally agree. If you’re good, you can go straight into an investment role. If you’re not good….then you might as well join a corporate because er path is not easy and often time it’s out of your control on your comp progression.
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