Is 240k all in for corporate dev/m&a good for an associate leaving IB?(NYC)

In house corporate m&a. Nyc based.

Seems depressing and a huge step down as a senior associate in IB (inflation is insane right now).  That nearly what first year analysts make now with the base increases.


Not sure what to think.  Is it better to try and move to something chill on the sell side (ecm etc)?

 

Is your group particularly bad? I’m a first year associate so it’s hard for me to gauge how I would feel after years of this, but I can’t see myself leaving because I can’t take a pay cut. 
 

I’m wondering if ECM even has that much better hours. Maybe now that SPACs are calming down I guess. 

 

My group has been bad. Everyone great left except our annoying vps and directors.  Literally no one else with more than 1 year experience outside me.

 

Damn dude, I feel like you shouldn’t be getting murdered like that as a senior associate. May be worth exploring other firms and speaking with ppl who you know will be honest with you about working conditions. Your VPs and whoever else have created a bad environment. Do you enjoy investment banking? 

 
Most Helpful

From 9 to 5pm I like it(srs)

5pm to 9pm i tolerate it

9pm to midnight I hate it

Midnight to 3am i want to die (not literally)

3am to 6am i dont buckle my seatbelt in the uber taking me home since I don't care if I die if it wrecks

 

~$240 all in is in the general ballpark of total comp you'd receive for your first full year on the desk. Obviously if you're going to industry you're taking a paycut - no way around that - so IDK if I'd be super disappointed with the corp dev comp package. Likely other subjective factors to consider as well (upward mobility, public vs private, stock comp vesting schedule, etc)

 

$240k is really good, especially for what sounds to be a non Tech industry. I would flag that in house M&A can vary from really slow to really busy, both can be a cure. Slow team makes days longer and busy work intolerable, busy team makes WLB shit and you'll wish you were a slave making IBD comp vs. slave making $240k

Definitely a step down from AS3 comp and depends how much lifestyle creep you allowed over the last few years. 

 

$240k for a manager title in corporate land outside of big tech / unicorns is solid - even above market considerably. Not sure how making nearly a quarter mil in your 20s with a low hours / non-client facing gig with less bullshit to deal with would make anybody depressed - get a reality check OP.

 

This is remarkably short sighted, and you'd gripe at this career trajectory if you were in the same juncture. $240k in your 20s sure is decent (btw idk what you think is “market” for Corp Dev is 240k is significantly above market), not nearly as great as stepping down from making $400k+ as an AS3, but better hours sure whatever. Now fast forward into your 40s where you're still basically making the same shit and have 2 kids to feed in NYC. It's a huge adjustment and paradigm shift and here you are telling him look it could be worse.Your reality check is akin to "oh there's starving kids in Africa?" Is it applicable? Sure - literally everything in this forum is 0.1% circle jerk bubble material, is it helpful? No.

 

You guys are out of touch man, like severely out of touch.

$240k is what a director who’s climbed up the corporate ladder for 12-15 years can expect to make outside tech. A kid in his 20s jumping into the same gig with half to less than half the experience is pretty fucking good in my book.

If OP wants to maximise income then they should stick to the usual suspect paths or go try out being an entrepreneur lifestyle / stress inclusive. 

Becoming “depressed” and complaining because you’re going from a high paying to a slightly less high paying but still high paying job is the height of self-delusion, entitlement and arrogance - no one cares how special you think you are editing PPT / XLS docs working as an assistant to some glorified realtor.

People in finance have some seriously messed up  self-images.

 

Alright then likely used the b-school reset?

Doesn’t change much though not like you can’t afford to raise a kid on nearly a quarter mil a year. 

You have to realise that compensation isn’t determined by your wants it’s determined by the market and business dynamics. If you want to stay flush, stay in banking but move group or hop to a buyside gig - BS and all that comes alongside with.

If not, can’t think of much worse than retaining relatively solid comp and a more manageable lifestyle where you get to actually see your kid grow up. Can always hop to tech in the same role after a year at this gig. Should be a +25-35% bump all-in. 

 

I'm bowing out. Always have to remember 80% of this site is folks under 23 who see $240k and think diamonds. I was exactly the same way when I was in college and I found out that after 2 years in banking you could get $250k in a buyside associate gig at General Atlantic and $300k at Eton Park at the time. I thought that was fucking amazing and insane. Literally thought I'd have so much money. 

 

$240k for a Manager in Corp Dev is very solid, especially if it's non-tech. Corp Dev will also certainly be more interesting than something like ecm/dcm for most people. 

 

I feel like I bang the drum on this site a lot, but I took the plunge and moved to a still large but lower COL city several years ago. My hours and stress are so much lower than in NYC and I haven’t had to trade off interesting work. Comp is lower than if I stayed in NYC but practically speaking I feel just as wealthy with a nice house and short commute. Life is slower but fine by me 

 

Idk what kind of lifestyles you guys are living but if you don't think you can live in nyc with 240k' it means you have spending issues. Hell even with 100k you can make things work, and if you have a SO making 50k, 150k all in, that's enough to have a great life in nyc. If both you and your s/o are making 100k, you're gonna have a great time in NYC.

 

People saying 240k is low, think of the future, are forgetting the lifestyle differences here. Sure, IB/PE you will certainly make more over the long term, but OP has pretty clearly stated he's over that lifestyle. A top IB performer will be a great performer in corp - easy to make director/VP later on and not work crazy hours.

 

If you have kids find a job outside of NYC with similar comp. $240K is too little to get the elite connections in NYC that you want for your kids and you know it. Any T2/T3 city has prestigious neighborhoods (and by extension schools).

Array
 

If you go to the right NYC schools, live in the right gated community, member of the right golf club, etc. your buddies, neighbor or your kid's friend's parent will be a higher up in high finance who can push for your kid when SA/FT recruiting rolls around.

Array
 

Eaque exercitationem unde iusto qui enim et. Eum quidem quae et natus quia et. Quia et deleniti ad magnam similique. Dolore ut veniam omnis earum sit laborum magnam. Dicta ea quidem quaerat architecto sed blanditiis consectetur.

Quae minima rerum ut dolore quibusdam vitae ea. Assumenda et enim odit magni.

Esse voluptas molestias ab qui aliquam iure dicta. Dolorem corporis qui est nihil nesciunt quae. Illum et qui nihil voluptatem omnis et minus. Ab ipsum est ad nisi et. Dolorem rerum aliquid error doloribus. Eveniet harum ut et accusantium.

Array
 

Omnis quia perspiciatis ut saepe. At fugit optio voluptatibus voluptatem iure distinctio dolores. Nostrum hic maiores tempora dolorem. Perferendis et repellendus autem omnis laboriosam.

Eum quia rerum incidunt error mollitia laboriosam minus. Quidem illo possimus reprehenderit amet. Ducimus dignissimos nostrum et alias. Ut expedita ex odio aut commodi. Nobis reiciendis necessitatibus fuga cupiditate qui. Porro debitis blanditiis exercitationem dicta vel quisquam hic aut.

Sunt et quisquam distinctio et. Debitis eum et consequuntur quia nulla qui. Nihil aspernatur alias id nostrum aut praesentium voluptatibus.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. New 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (88) $260
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (67) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Betsy Massar's picture
Betsy Massar
99.0
3
Secyh62's picture
Secyh62
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
GameTheory's picture
GameTheory
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
Jamoldo's picture
Jamoldo
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”