For those that are analyst/senior analysts in Corporate development, what does your comp look like, specifically base? I know there’s a wide range, but trying to figure out if 100,000-120,000 for the analyst level is reasonable
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Only in NYC / SF - which isn’t an attractive wage to pay the bills
just bc banking analyst pay went up doesn’t mean corp dev did
assuming you’re talking base salaries - $120k is not frequent or reasonable base for 2Y experience in Chicago or more affordable areas
You can live comfortably on 100-120k in NYC lol people live here on far less.
3 roommates total in a 2 bed I guess.
$100k base in NYC isn’t fun - it’s not any different than $85k when that was standard given rent and inflation
you won’t be saving much after 401k contributions
Corp Dev pay widely varies. I had zero experience out of grad school in a non HCOL. I get a decent base and a quarterly bonus. All in all comp is in the range you're saying. However, my firm is really pushing the gas on acquisitions and the team is very small. I've seen analyst/ associate pay be way less than that and more. So take this with a grain of salt. Corp Dev pay is all over the place.
What about in Chicago?
I work in a tier 2 city and make ~125,000 + 15% bonus as Senior Analyst, my previous job was in HCOL city and I only made 80K + 10% bonus as analyst so it can vary greatly
Have always worked in a HCOL area not NYC but a train rides away. Here's what I have seen
As others have mentioned it widely varies in CD.
How do you make less with 24 months of XP compared to 18 months lmao?
Those are all different companies. The point being that the range you can make it corp dev is very dependent on company. If you look below you'll see a manager is making 140k and from what I have seen there are also associates out there making 140k.
I worked at a smaller shop (growth-backed), ~$35-$40M in EBITDA. Came in with 3+ YoEs as a manager (did 2 years of BB IB, 1+ years of UMM PE, all in Chicago).
Currently my base is $140k, have a bonus target of 10-15% (this was quoted verbally, so we'll see if that turns out). I also got a signing bonus of $5k, so looking at all in of $155-$170k.
Depending on your YoEs / background, think you may be a bit steep, but also depends on the size of the firm. I work in a fairly niche industry that doesn't pay as well so I do think there's a bit of a discount priced in, but that is part of why corp dev gigs vary so much. I wasn't really interested in working a F500 Corp Dev gig, rather took this one on opportunistically because it's an industry I wanted to switch to.
I also work in Chicago and if I were asked to move to NY, would ask for a relocation bonus / comp adjustment so not exactly apples to apples.
So there are a lot of variables, but I think the lower end of your range is more likely / plausible. Also think there is a chance to negotiate up $10k (what I did) since most of these openings are bespoke.
Assuming your total comp is ~50% haircut, after the move do you feel comfortable with the cut for a better lifestyle?
Yep it was right around a ~50% cut. A few factors to my answer, but yes I feel comfortable:
Congrats - sounds like a great tradeoff! How does progression look title and comp wise over the next few years in your role?
Thanks - yes I'm happy with it.
I'm part of a two-man team (me and the VP of Corp Dev / Strategy), so planning on sticking around for 18+ months or so (have been here 6 months roughly). Comp isn't formalized (frankly HR here is a bit behind given the company is small / in growth mode), but thinking it'll be a 5-10% raise annually with bonus increasing off the base. Really just speculating here, but pretty okay with what the next 18 months looks like. At that point I'd like to know a lot more.
Sorry for so many questions - this is really helpful! Is there anything you know now that you weren't expecting either in your role directly or just generally with the transition from IB/PE to corp role? Is there anything you've seen from others you know that have made the transition on overall satisfaction with the move? Biggest downsides I've heard usually is the comp decrease and / or "slower" environment but people in my year haven't really made that move yet.
No problem -- have been thinking about doing an AMA since I do get follow-ups on a lot of my comments.
The work is definitely slower. I don't really mind that though, I was pretty burned out by the end of my PE stint and being able to sign off and leave things for the next day was a welcome change. There definitely are still some sprints, but these last days rather than weeks (or months).
My role is a lot more strategy based than I'd think the average role is, and that's okay with me. I think at some point I want to graduate away from being a deal / investing specialist and more of an operator so this is another positive in my mind. I've been able to spearhead a lot of ad hoc research / strategic projects for division leads which has been great learning.
Obviously my optionality in terms of next steps has decreased, but not necessarily a bad thing as I'm now in an industry I'm passionate about, so willing to make that tradeoff.
I get really good exposure to the C-Suite, part of that is being part of a two-person team so I'm often presenting my work directly to the CEO (and work in tandem with the CFO on certain aspects). Despite being a manager, I sit in a lot of meetings with executives and our growth investors. I feel pretty senior for being less than 4 years out of college.
Another thing to hit on -- since I'm at a small company, a lot of times once we approve a new initiative, we go out and do it immediately. It is pretty rewarding to be able to feel like I'm making direct impacts on the company decision making. Definitely was this way in IB / PE too, but I feel a lot more of a team member now.
Lastly -- I'm traveling a lot less (only once a month or so) compared to PE, and it's not last minute. Generally get to book these a month in advance and try to see friends in these locations.
Interesting to read your response, is this an acquisitive shop or are you working more-so driving strategy? I only ask because of the bonus %.
Have been in the role for 6 or so months now, and backward looking its been about 50/50 M&A and strategy, respectively.
We are a bit tapped out on our revolver right now so I think the next 6 months will be a lot more strategy driven.
How are your hours? I would expect you to make more given your impressive background to be honest. This is coming from someone also based in Chicago with a similar # of YOE
Hours are great, rarely eclipse 40 / week. Have had some late nights, but those are generally logging off at 11pm at the latest.
I think I could've made a decent amount more if I went to a larger company, but frankly I agree a bit. I was offered at the lower end of my expected comp range (they asked what I was thinking, I told them $150k-$200k all in), and got them to come up $5k with the $5k signing bonus I mentioned earlier. I did a few channel checks that mentioned that range was either too low, too high, or just right, to point to what a few others on this thread have said about variability.
With that said, think I had a bit of title appreciation (being a manager 3 years out, when hired) that helps and again I really do like my job / industry. I don't want to be too specific but it's an industry that notoriously doesn't pay a ton since there are limited seats and a lot of interest in it (think niche TMT).
why did you eventually leave UMM PE? a lot of people say IB and PE are similar but slightly different skillsets (IB being more sales oriented, process driven, volume and velocity of deals executed in a year while PE is more nitty gritty, longer deal cycles since PE firms hold 5-7 years, way more in the weeds for data room, ad hoc analysis, modelling, looking at agreements). im in IB and wondering if the grass is greener or your skillset truly enhances that much more by doing 1-2 years of PE in terms of modelling, or your financial acumen since both IB/PE is in the realm of thinking of businesses in a pure sense of whether it is good or not. would love to hear your compare/contrast and etc
Sorry for the delay here.
Sounds like you have a decent understanding of the nuances between IB / PE. Definitely think both are useful skills, but I learned way more in the my 1.5ish years in PE than I did in my 2 years in IB, though the knowledge IB gave is definitely requisite for being able to jump into PE and ride the learning curve.
I liked PE a lot more than IB. While there is still some minutiae, on its own, the day-to-day is a lot more interesting as you are actually investing in companies rather than just working on processes. A lot more in depth, but to me that was interesting.
The things that went wrong for me (a few) started with doing on-cycle recruiting. It kicked off a month after I hit the desk and really I didn't know what I'd want in two years time. I was pretty burnt out from banking and PE had the same lifestyle at my firm (always on call, long hours, not able to take trips) if not worse and I was tired of living like that all the time. I would've tried, in hindsight, to find a smaller firm during off-cycle, but my firm was very intense and seniors worked all the time. I've talked about it more on this forum but in the long run the money was not worth the lifestyle to me anymore. Also worked with some truly horrible VPs and Seniors who made work unbearable. It sucks sitting in bed every morning dreading being in the office because you have to interface with someone you really don't like (and have to pretend to like).
I planned on leaving after my 2-year stint was up (B School didn't really intrigue me considering it's getting harder to place at HSW anyways now and I didn't wanna go back to PE), but then this new role came up opportunistically and I took it. Definitely happy I tried PE and know its not the lifestyle for me, but happier I'm not in it anymore.
The salary for a Corporate Development Analyst can vary depending on factors such as location, company size, industry, and experience level.
According to data from Glassdoor, the average base salary for a Corporate Development Analyst in the United States is around $82,000 per year. However, salaries can range from around $60,000 per year to over $110,000 per year, depending on the factors mentioned above.
In addition to base salary, many companies offer bonuses, stock options, and other benefits that can increase the total compensation package for a Corporate Development Analyst.
It's also worth noting that salaries for Corporate Development Analysts can increase significantly with experience and career progression. Senior-level positions such as Director of Corporate Development or Vice President of Corporate Development can offer six-figure salaries or higher.
This has been my progression so far
It depends heavily on geography, the size of the business, and the industry.
While this was for a June 2020 start date, Spirit AeroSystems offered a $65k base (out of their corporate HQ in Wichita, Kansas) for an entry level analyst role. One of the 10 largest American utilities based not in NYC/Chicago/LA offers an $82.5k base. I know multiple defense contractors (from $100m rev/yr firms to companies the size of Raytheon or Lockheed) that offer in the $90ks.
Highest paying corp dev roles tend to at large / medium cap pharmas - very acquisitive, very profitable, and need a lot of specialized industry knowledge.
Have been interviewing in for corp dev roles in the south east and consistently see bases of $115-130K with bonuses quoted between 15-25% base
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