Compensation | Associates that left for Corp. Dev
For folks that left for Corp. Dev at the associate level in IB, what comp did you get?
I’m approaching a year in, but fiscal year end isn’t until Oct and bonus isn’t paid out until Dec.
Would be helpful to see the whole compensation picture (base, bonus expectations, stock in company, sign-on bonus, etc)
I doubt a company would buy out a pro rated Associate bonus at 75% pro rated at 50% of base assumption, right? Wondering what would be the highest I could get paid out at. Really want to get out if IB, but weighing sticking around until December.
Have talked to a few companies about this / seen friends make the move, and in this market I would be surprised if you got any buyout at all. Maybe a stub signing bonus of like $20k but certainly not your whole bonus right now. There are far too many qualified IB juniors (you're also competing against senior analysts since you're at or under 1 year in IB) who got laid off and have no buyout, all looking for these corp dev jobs. Add on a very limited job market and bonuses looking terrible this year... even people who survived the layoffs are willing to leave with no buyout or a small stub for the right opportunity.
NYC salaries are public so you can see for yourself what companies offer on base. $120k base with 15-20% bonus is a reasonable range to think about for associate/early manager level at your average public company, unless you have significant pre-MBA experience that would merit you coming in at a higher level.
Would be surprised to see 20% bonus as a junior in corp dev. At some companies you are simply not eligible for bonuses until the manager level (almost VP equivalent).
TC would be in the 120-140k range tops. However your stress, anxiety and life quality may improve well beyond the money you are giving up
What site can you see salaries?
Meant NYC job listings are required to have salaries... so if you go search corp dev associate, manager etc on LinkedIn jobs you can get an idea of base salary pretty quickly
Outside of job listings, H1B database (just Google that) is another good data point for salaries if the company is sponsoring anyone
.
That’s so weak
Left during stub period post-MBA. Absolutely hated banking and was misled with the watered-down COVID summer experience (WFH and logged off around 8-10pm was great, but not representative of reality).
Joined a public A&D at $165k base and $10k sign on in HCOL area.
What’s the bonus range?
OP: role is a manager role
I had corp finance Exp pre business school. Hoping I can leverage that for more attractive comp. No shot would I leave for some of these comp references above
If your experience was highly relevant and you're coming in around senior manager, could probably aim for $150-170k on base with TC under $200k, but IMO this is on the higher end as companies can simply offer a lot less right now. Many companies recruiting out of IB will heavily discount your pre-IB experience unless it was literally like corp strategy or FP&A in same industry. Any way you shake it you are taking a huge cut from IB.
If you have a strong brand from MBA/current bank, you might want to look at asset management. Bit tricky to break into, and definitely need an interest in markets, but it's better comp than corp dev with a vast improvement on IB hours
Tbh these numbers are really depressing. AN1 at my firm cleared $175k and AS1 cleared $325k last year. I understand this is the reality but I can’t imagine being 4-5 years into my career and leaving for a job to make *less than* what I made my very first year of work. Humans get motivated by improvement and progress; we get depressed by decline.
Seems like corp dev makes more sense if you can get Corp Dev Associate job with 1-2 YOE as an IB analyst where it’s only a 25% comp haircut not a 60% comp haircut. Then at least your salary is going up from 110k instead of down from 175k, so there’s progress, and after that you grow slowly throughout your career.
Look at it in terms of hourly pay, not annual.
IB analyst leaving for corp dev isn’t getting 165k base
Yeah there are some crazy expectations in this thread. That is senior manager / director base depending on city / cost of living
Probably an anomaly, but I just lateralled to a corp dev role with exactly 165k in base from AN2. We're also interviewing candidates ranging from AN2/3 - senior associates.
Point being, 165k is achievable.
I didn’t say anything about $165k base. I said a 25% haircut to total analyst comp at my company, which for this example is 75% * $175k = $131k total. I would hope at least that is reasonable to expect for a corp dev associate.
Now going from $325k to $131k total comp is a literal 60% decline in comp. In my opinion makes limited sense (if any).
It makes sense cuz OP is an MBA associate lol
If someone is leaving IB for corp dev they generally aren't concerned about the pay cut, they just want a better quality of life. Comp obviously matters but it's maybe the 3rd most import consideration.
Left as an A2A Associate 1 for $160k Base Salary + 15% Target Bonus (NYC/SF) at the Manager level. However, bonus is heavily weighted towards company's performance vs budget and will likely be closer to 10% this year. Bit of a step down from $175K BB Associate Salary, but lifestyle has immensely improved.
Thank you for the data point
OP here: Got the offer.
Won’t be making Nearly IB money but if WLB is strong. I’m good with the comp structure
This is great comp, nice job
Congrats, what range would you expect for the bonus?
Meant to share that - 30% is expected bonus
Do you mind sharing which industry and what level you’re coming in at? Did they give any expectation in terms of hours? That sounds like great compensation.
Coming in as a Manager in M&A from IB coverage - associate 1
Total of 5 years FT Exp all in finance roles (corp lending, strategy, IB). Also have an MBA and had internships throughout the FT program in PE and IB.
My IB coverage aligns with the new industry role.
Expect hours to be 40-50 with the occasional peaks for deal activity. Team is pretty active but seems very chill.
HCOL city?
Low Cost but big city
Congrats - sounds amazing.
What are your hours going to be like there?
how is it now?
How is it 6 months later? Hoping to make a similar jump after A2A
Not an Aso but a sr analyst. Just signed for 150 base + ~10 bonus and some RSUs. Private company, PE backed
what kind of technical questions do they ask in corp dev for your role?
All curious on this
I believe that you should be able to get a base of 150K at least if you are post MBA. Most post MBA corporate jobs start at around 150K base. I had 2.5 years of experience out of undergrad in strategy consulting and got one offer for 130K base and another for 120K base in NYC. I have another friend looking to leave right now with 4 years IB experience post undergrad and he’s looking at a 140K base. I usually see base of post IB Associates at 125K-150K. Manager base at 150K-170K. Director base (this varies a lot) 190K-250K. I would expect higher end in New York and lower end in MCOL/LCOL cities. Private equity backed and active publicly traded companies pay more. Remote corp dev jobs and smaller MM companies pay less from what I saw. I also agree that companies are paying a lot less than usual because the market is over saturated with candidates. Most directors are early 30s and are comfortably making mid to high 200Ks with some crossing 300K. That’s a really nice paycheck when you’re only working 8-10 hour days and no weekends.
These comp figures are appalling. I made over 200k base as a SM in strategy with no MBA
Molestiae itaque tempore esse fugiat dolore natus. Inventore provident eum cupiditate quas non mollitia quidem. Possimus odio omnis iure natus expedita voluptate rem tenetur.
Quia iste culpa voluptates dolorem. Odio eius quaerat possimus quidem. Libero neque quas rerum. Sit omnis qui esse corporis consequuntur nihil molestiae.
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...
Laborum quia velit omnis et ut cum animi dignissimos. Magni ex ipsa sequi provident excepturi. Molestiae est rem impedit molestias dignissimos. Accusantium culpa quia maiores.
Reiciendis velit tempora in magni. Omnis tenetur dicta eum aliquam aut alias.
Unde commodi qui est quas quibusdam aliquid nostrum. Tenetur quia eius quo animi nostrum. Eos qui sed eos perferendis aut expedita officiis aliquid.