Realistic CorpDev Pay with VP Exit
What can I realistically expect as all-in comp for a CorpDev role if I leave as a VP?
IB is horrendous but I’ve almost reached the VP level (ignore the username), so I’m inclined to stay if it gives me some better CorpDev options.
Answers online are all over the map - appreciate there may be come variability depending on the type of company, size, etc, but a general idea would be helpful. $200-$300k all in?
Heard from one of my VPs that he’s staying because if he left, he’d need to settle for a bizdev job paying $150k base. That seems insane to me, I have not-so-bright friends who are accounting managers / do sales at random tech companies who make more than that.
Bumping your thread. Curious if you’re in DCM tho or if it’s just a title since I’ve heard that’s much more sustainable than coverage/ M&A over the long-term even if some people think it’s boring/repetitive. I know DCM/ capital markets is still IB, but I’ve heard it’s like 60 ish hours and learning curve is much more manageable after the first six months.
Feel like whether your in DCM or in another group may affect the responses you receive
i'm at an EB and I can promise you the ECM and DCM teams do not have chill hours. They end up getting staffed on a wide array of projects given their in-demand/practical specialty...the partner in the ECM team is literally on like every deal we do lol. I'm sure he makes a shit ton but he works more than majority of the partners for sure.
Appreciate the insight. Interesting that ECM is hot right now at your EB and it seems that it’s related to the staffing model. Looks like the capital markets lifestyle would be firm specific and depends on how involved the teams are with each project. Thanks for the color.
You could probably come in as a Director. If so, probably ~$175K base with ~20-25% bonus target and some SBC (maybe a little more $ if in NYC/SF and/or in tech).
How tf are Manager roles in strategic finance paying $150k+ stock when corp dev director pays so little?
What do you mean? Manager roles would typically be closer to $120K + 10-20% bonuses likely with no stock. Sr Manager may be closer to $150K + 20% bonus + maybe small amounts of stock ($20-$30K). At least at most reasonably sized companies - tech and/or NY/SF location may lead to higher pay.
Chiming in for your datapoint, but different situation from you. Just transitioned to corp dev as a manager role and came in as a second year analyst (I have prior work experiences). That said, I am pretty lucky given that a lot of the other mgrs have 4+ YOE. My base is 165k and I’d guess director is close to or slightly above 200k. This is just BASE. With your level of experience, I can imagine a Sr. mgr or director role.
Whats the rest of your comp package look like?
Comp is all over the place for CorpDev and negotiating can dramatically increase your comp if you have a competing offer
For reference, I left as an assoc. 1 and have a ~200k base with ~50k bonus and work 45-50 hours a week
The VP's (IB title not corporate) who came over pull in ~300k-$400k base with a $50k-$75k bonus
So it's possible to get good comp but the roles are few and far in between and require some leverage to get
What industry are you in?
Tech - hardware
The salary ranges at your firm are on the higher end, and not the norm. Most corporate M&A roles I've come across are paying 130-175k base for manager level with 20-30% bonus.
How many YoE in IB is enough for a manager role? Would total comp average ~175k in NYC?
Yes, most corp dev roles absolutely suck and aren't worth taking.
Making $150k for banking 2.0 is not worth it at all.
I ended up focusing in on a niche most people hate in the tech industry and found less competition, better packages, etc. since I didn't just want to work for FAGMA or the hot company of the hour.
If you're willing to look around for 6 months and pit companies against one another you can find nice roles.
The hard part is doing your diligence to know what you're getting into as, mentioned above, this job can really suck. But instead of it being based on the work/industry, it is 100% team driven
I’ve been seeing 150-170k base for Corp dev in similar levels.
In tech, my VPs are making 250K with 50-60% cash bonus + another 25%+ in SBC. Nearly 500K annually. Being in tech we are closer to the top end, but in a MCOL city its a really nice paycheck. I think the directors make about 250 or so as well, just lower cash and SBC bonuses.
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The "issue" here is that a VP in the Corporate world is more senior than VP in banking. Especially in F500 land, when people have made move from banker to VP, Corp Dev, that person was always an MD in my experience.
That is definitely fair, Director would be the more apt comparison for a VP in banking at my company. That being said, the two VPs i have had so far: one never got close to MD (hes only 39) and the other left and was never in IB
From TMT expect a 25-50% haircut is the general rule of thumb (higher the more senior you get). On the flip side, you have a shot at equity appreciation via RSUs.
Build rapport with a client then exit to them to maximize comp.
I was recently headhunted for a NYC corp dev position paying like 175k base and 20k bonus lol. Pathetic pay for NYC at my level (my base is 275 right now.....)
Another before was like 150k base and 30k bonus.
Corp dev roles suck
Second this. On top of the terrible pay, the hours can get very bad during live deals and there is a lot of BS work when there aren't. Making profiles and doing the same BS pitch work you hate right now except you can't send it to the Philippines for overnight service and instead of clients who won't read it, it's your own executives who will ask your bosses about it. Then factor in that these teams are usually very lean so progression caps out quickly. You only have one SVP (MD equivalent) otherwise VPs are doing the same trash middle management job you're used to.
Interesting -- everything I have had conversations for as a Director Corp Dev has been ~215 - 250k base. This has been across an array of industries. Total comp for all these roles were with 3-handles.
I think it depends a lot on the company/industry. Despite my username, I’ve been in healthcare for the past 11 years…yes, I’m that old and have been on this site that long. I was also CEO of a company I founded. VPs in corporate make pretty good money in HC.
I left my company to take a year off and am back starting to look. A VP role in Corp Dev/VC with a big company in a smaller market was paying $350k base with upside to $600k. Another job I’m looking at as COO for an ~$100M revenue business has guaranteed cash comp of $500k up to $1M with performance incentives. I rarely see anything that is under $300k guaranteed and those on the lower end generally have significant upside based on performance. Defining performance is a tougher trick.
What happened to your company? Also great to hear these type of opportunities exist in healthcare.
My former company is doing great. I just got tired of board management and HR stuff, plus had some family issues so I decided to step aside.
Awesome response - appreciate it.
Would leaving as a banking VP translate to entering as a VP in biz dev though? I thought you’d need to enter in at a manager or director level, which would pay much lower.
You likely wouldn’t go from a VP in IB to a VP in corp dev for a larger company. I did a decade in banking and then founded and scaled a notable HC company as CEO for 11 years. I’m just offering a couple of data points based on recent conversations.
I find the consensus here that corporate roles rarely top 200k absolutely insane. I just signed an offer for a manager level corporate strategy role at a F500 (non-tech) at just under 200k base, ~240k all in. And this is with 1 year of MBB, 4 total years of experience.
I understand corp dev isn’t strategy, but feels like they should be comparable, and I don’t see how directors in my group wouldn’t clear 300k all in at a minimum
What industry?
Sounds like a great package - congrats. Definitely not the norm for just 4 YoE, but agree at Director level $300K all-in is reasonable at F500 type company. Director taking 7-10 years of experience for quality backgrounds (maybe closer to 12-15 if working your way up from analyst without any IB/consulting type experience).
If I were to do it, I'd go somewhere earlier stage, take the hit on cash comp but load up on equity but that's just my risk tolerance. Sure cash would suck, but if you were to take a longer view and be selective on where you go, when macros stabilize and there is an exit horizon, equity is the first step to fuck you money.
Surprised by some of this
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