Is ~$200k comp fair for 1st year with advanced degree?
As title asks, I’ll be potentially accepting an offer soon but wanted to run by what a competitive offer looks like for a fresh grad with a PhD (biotech). I’ve asked associates at the firm and first year associate comp ranges from 195-215k from 3 datapoints (using middle of bonus range given). Is this fair given my graduate degree? Should I ask for higher base or any other sign on/relocation (not included)?
Based on the WSO Dataset, a compensation package of ~$200k for a first-year associate with an advanced degree, such as a PhD in biotech, is generally competitive. The range you mentioned, $195k to $215k, aligns well with typical first-year compensation in high-demand sectors like biotechnology within investment banking or related fields.
Here are a few considerations to keep in mind: 1. Industry Standard: For high-demand sectors like biotech, compensation at the level you mentioned is quite typical for top-tier firms. It's important to consider the firm's standing and the specific market conditions of the biotech industry. 2. Comparison with Peers: The figures you've obtained from associates suggest that your offer is within the normal range. This consistency across multiple data points indicates a fair market rate. 3. Negotiation Leverage: Given your advanced degree, you might have leverage to negotiate aspects of your compensation package. While the base salary might be standardized, you could potentially negotiate for a higher sign-on bonus or relocation expenses, especially if these were not initially offered.
If you feel your skills and qualifications are exceptional within the biotech field, it could be worth discussing a slightly higher base salary or additional perks. However, ensure that any negotiations are backed by a clear rationale and an understanding of the industry standards.
Sources: Is this associate compensation competitive?, Do New Grads In Tech Really Make $250K+ Straight Out Of Undergrad?, Tech As An Alternative to Finance, Very Tough Decision - Short-term Comp vs. Long-term job, Does anything pay better than finance?
Depends on the firm. I imagine it’s your first job on the street?
Tbh 200k is on the highend for first year even with an advanced degree in this market. I would take it.
That’s fair. I would not try to negotiate on a 200k comp with zero experience. They pay everyone the same at entry level so it’s not worth pushing. You have zero leverage.
Yea this isn’t true. He’s starting at a higher level bc of a phd. Not the same as a fresh grad.
Also you’ll be with your peers in base but where biotech shines is bonus.
Huge bonus in equity research?
Tf dude you sent to school for that long for 200k you’re what almost 30?
Not quite but close ish. And dude what do u want me to say? Every MD, PhD, PharmD, dentist, etc is in the same boat…. U must live in a 2 dimensional bubble
For context, I made ~200k as a 21 yo analyst with just a bachelor’s. 200k isn’t a bad comp package in any scenario but would expect a bit more, at least 250k. Unless you see a path to quickly scale
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