Corp Dev or Corp VC, can you help me figure out what it is I’m doing and how much I should be paid?

Hey guys,

I took a job 7 months ago for a non-profit healthcare company ($5B in revenue) in the Midwest. I love what I'm doing but I think I'm drastically underpaid and wanted to get your thoughts about asking for a raise.

To my understanding, my team is the corporate venture arm / corporate development arm of the company. Typical work that I do is..

Day to day:
- Research startups within healthcare and recommend further diligence for adoption and/or investment (50%)
- assist with building business cases for companies further in adoption pipeline (20%)
- support M&A activities, no financial modeling yet but I help build the business case and conduct industry research (20%)
- conduct diligence on internal associates innovations, recommend investment and/or adoption (10%)

We don't do a lot of M&A and we also rarely make investments in startups, but I'm constantly working on the research that could result in a deal, and get brought on to work it.

Currently I make $60k. I'm working my ass off and based on feedback I'm told I'm over performing the teams expectations. Based on the job description, what would you consider this role (Corp dev, strat, etc) and how much should I be paid?

Further context, I don't come from IB.

I'd really appreciate any feedback as I have my review coming up this week.

Thanks

Comments (6)

Most Helpful
  • Analyst 3+ in IB-M&A
Jul 27, 2021 - 9:18am

I work in Corp Dev on the East Coast also a non IB person, came from consulting. It sounds to me like your on the Corp VC side. There are plenty of companies out there that have separate VC vs Corp Dev positions (BMW and Amex to name a couple). If you're looking to make the switch to the Corp Dev M&A side the modeling is absolutely something you'll be asked about/expected to know. As for the comp side we have an analyst on my team no M&A or real corporate experience at all making low 60's with no bonus, although I think that is more on the rare side it does happen. By that same token we have a second year analyst who has an M&A background making 125k. I think asking for a raise is fine but being in the midwest just make sure you know your numbers. Hope this helped, happy to answer any other questions

  • Associate 1 in CorpStrat
Jul 27, 2021 - 9:22am

Hey man, this was really helpful.

I think you're right about being more on the VC side, but as our teams responsibilities and influence is growing In the org we're taking on more M&A duties as well.

What do you think is a realistic ask? If I go into my review and ask to be bumped to $85k do you think that is out of line?

As for your analyst making low 60's, what do you think will happen to him when he finds out he's underpaid. Will he be bumped up by his boss, or will he have to ask for it? What do you think his first raise will be?

  • Analyst 3+ in IB-M&A
Jul 27, 2021 - 9:33am

Glad it was helpful! Our analyst is looking to make his exit to banking already and I cant say I'm surprised. I think 85 is a realistic base on the east or west coast but again I think the detractor is being in the midwest. Do a few google searches and take some recruiter calls and see what comp looks like for someone with your experience in your position. I don't think ask for more is a problem at all just how much is the question. 

Jul 27, 2021 - 3:13pm
PCSC, what's your opinion? Comment below:

Corporate VC/Innovation fund is how I'd describe your role. I think the compensation is reflective of the industry that you're in. Non-profit healthcare, especially health-systems, have very banded and self-regulated pay. Will be near impossible to make commercial compensation when you aren't at a commercial enterprise.

  • Associate 1 in CorpStrat
Jul 27, 2021 - 10:01pm

This is some very helpful insight. I really love the work I do and my team is fantastic, but if the comp is truly this low I don't see myself being able to do this for very long.

Two follow up questions:

  1. Assuming I work at a non-profit health system, and a fairly large one, what should I be aiming for? Ex: if commercial market pays $85k + bonus, should I expect $75k with no bonus? I'm struggling to find a baseline.
  1. Do you have a recommendation of how I approach this review? (I feel I came in very low and have good reason to believe I did. It weighs over me constantly. Do I even ask for a raise or keep my mouth shut?)

Thanks

  • Business School in CorpStrat
Jul 1, 2022 - 10:32am

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