Corp Dev Comp
Curious what everyone is seeing for Corp Dev comp in terms of Salary and bonus. Thinking that this may be a very real exit, but curious how much of a haircut one will have to take.
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Just received a corp. dev. analyst offer from a fintech company that recently went public. $107K base, $5K relocation bonus, $35k in stock and a discretionary EOY bonus (probably 20% - 30% of base). So total ~ $170k Located on the east coast and fully remote but probably going to be in 2-3x a week. Finishing up my second year of banking at an MM --> $110K base and looking like about a $90k - $110K bonus so about $210K in total.
Whoa that’s amazing, totally worth leaving banking then…
These days you can get somewhat close to your all in banking comp in corp dev but a lot of the “bonuses” are far from guaranteed.
As with all corporate roles, know that the annual rise in comp / 3 year promotion cycle ends and you may be in the same position and at the same comp level for years (often 5+).
35k stock per year or a 1 time grant? And did they give you guidance on the EoY bonus or are you just assuming 20-30%
Yeah it's pretty good. I also interned with this company back in college before they went public, so the process was pretty straightforward. I did get A2A at my current bank which would have been $175K base, $45K signing, and like $150K bonus so about ~$370k all in but the option to be fully remote and the comp is too good to pass up. Hours sound like 45 - 55 hours a week with max being 60 - 65. Pretty pumped, but we'll see...
Are you making ~370k as a Corp dev associate?
Comp will be down 20% vs last year
Bruh did you even read his comment
Have seen 120k-160k all in quoted on mergers & inquisitions but curious to see if comp has moved up lately. Might be getting an offer soon and will update if that's the case.
did you get an offer??
Posted my results below
Base has been bumped a little especially at larger/finance-oriented companies, but expect ~150k as a first year associate (or equivalent title post 2yrs of banking)
Definitely a haircut from banking, but hours are also much lower
For roles looking for 3-5 years experience, been told by HR at public tech companies it’s around $150-175 base, maybe a 10-20% bonus and ~$20K stock vesting per year. Some didn’t have a bonus. So it’s like $175-225K all-in. Pretty garbage relative to Associate pay and IB’s regular increases as you move up.
That’s not garbage at all considering the lower hours and for someone 3-5 years out of school, not sure what you’re smoking.
It’s misleading to use 2021 total comp as a gauge for banking comp, deal flow is not nearly as strong this year and comp will come down accordingly…
What about for managers, directors and Vice Presidents in corp dev?
I’m a corp dev manager at a mid cap. base 176k bonus at 15%, ~10-20k in RSUs. From my interviews and discussions this is very typical.
Way more up and down than IB (reflected in the pay obviously). But unless a deal is hot it’s 55-60 hours. Hot deals only last a few weeks and you only do a few a year. Promotion timing is erratic which sucks but all in the work is great.
Curious about NYC corp dev at PE-backed companies specifically manager and above.
Can confirm the quoted salary ranges above. I've recently had interviews at 2 big tech companies (not FAANG) for CD Associate (~3 years exp.), one quoted me ~$160K all in ($130K based, rest stock and cash comp) and another quoted ~$180K ($145K base, rest stock and cash comp). It would be about a 40 - 50% pay cut versus my current level in IB at a BB.
Also very important to do diligence on the company because many times the CD role can have very long hours similar to IB, but significantly less pay if the company is very acquisitive. I've seen people exit to CD only to work similar to banking hours, so don't expect all CD roles to be 40 - 60 hours a week. Also, CD groups are very small even at big companies, and resources is often spread very thin. The 2 tech companies I interviewed at seems to always be hiring for CD cause I suspect high turnover and bad culture (mid mgmt. all ex-IB).
anecdotal comp for a director role at SP100 company (healthcare)
$220-240 fix, cash bonus up to 60% of fix, RSU target of 30%. so 420-440 all in.
20% discount to poorly paying VP job (vs market in 2022). more like 30-40% haircut to director in banking.
IIRC. Corp dev manager is usually around $300k. Which is a huge paycut vs my current comp in banking, for not many marginal hours (70-80 hours down to 55-60, is it really worth it?)
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Had a few interviews for associate roles. 18 months of experience in MM consumer IB. Initial guidance for comp (all pre-offer) was as follows:
- Small publicly traded consumer tech company, hybrid working in suburbs of HCOL area (not SF or NYC): 120k base, 15% base. 138k TC
- Very large publicly-traded tech company, fully remote: 120-130k base if located in Bay Area (they change comp by region which was very annoying - ~20k haircut for any non-NYC/SF Bay Area location), 10% bonus, 12k / year RSU with some vesting. TC 145-155 for NYC/SF Bay Area
Had a few others but I need to dig around for my notes. All-in was around 125-150 for most of these roles it seems. Would not take anything less than 130k, personally, and would try to negotiate up to 140k all-cash if possible. Tech valuations still seem high and it's unclear when we'll hit the floor.
Can someone please provide more color on the hours they're used to with associate roles? Happy to take a pay cut for substantially less hours but if I'm gonna be doing 55 a week might as well do VC/GE for more money and a better learning experience.
Interested to know more about mapping of Corp Dev to IB. I am a Senior Associate (ignore the title) - what level should I target for a corp dev role?
Probably associate level - Maybe you could swing a Director/VP level at a smaller shop
Titles vary obviously.
Would say you should be able to lateral as a senior associate (or an experienced associate) looking to move to manager within a year. Some places would maybe give you the manager level right away. As mentioned it kinda depends on how the company does their titles but most likely looking to come in below the director level.
Manager. Maybe senior manager at smaller company.
zero chance of director or VP for any established company. MDs lateral over as VPs in corporate.
Thanks everyone for your input. I was thinking Manager level, but looks like that may take some luck and negotiation.
The numbers you are going to see for Corp Dev are going to be all over the place and as lawyers love to say "it depends". Some companies look at Corp Dev as a function similar to any other finance/account function (FP&A, strategic finance etc.) and are bound by pay bands. There are other companies who view Corp Dev as a group that will drive growth for the company and willing to be much more competitive comp to banking.
This guy knows what hes talking about. Another key variable you should note is whether the company treats CorpDev as just a commodity/nice to have or on the flip side where they’re aggressive about inorganic growth. You dont want to end up at a place thats not making acquisitions happen. Not a good sign. Thats why I’m leaving my CorpDev role. Just my 2 cents on it.
As someone with over 5 five years of CD experience and having worked at multiple F500s CD roles (in different levels of progression), this is correct.
I did always negotiate my comp for each role where I could with surprising results for the most part.
The numbers provided in this thread speak to the point of how variable comp is based on so many factors.
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