CorpDev Salary Expectations

Helpabroout's picture
Rank: Chimp | banana points 9

I've been in my current analyst role (MM M&A) for almost 2 years since graduation. After 3 rounds of interviews I have reached the final round interview to join the M&A team of a highly acquisitive corporate with c. $10bn sales. What should my salary expectations be? My current pay is not great ($65k + no bonus) and the hiring manager is aware of this. I was thinking of pitching at $100k but I'm worried this will come across badly as this represents a 50% increase on what I am on currently, however this is based on (i) my feeling that I am underpaid currently; and (ii) this company is highly acquisitive, has a massive pipeline of acquisitions and needs to grow their M&A team fast. Any insight would be much appreciated.

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Comments (19)

Jan 15, 2019

I'd certainly try to reference "market" pay at ~$100K. From what I've seen, a base in that neighborhood is about normal after 2 years of banking (albeit coming from roles with higher total comp) - industry and location can play into the number of course too. Since he knows you're paid less than most IBers, he may try to offer you less. Then it's just a negotiation. At the end of the day, you should be able to see a nice increase with hopefully better hours.

Jan 15, 2019

Could you go into more depth regarding your current position? Is it IB? Could be relevant for understanding type of role you're targeting and, therefore, expected pay.

Sounds like a cool opportunity regardless.

Jan 15, 2019

Company I am at (multibillion firm) pays the M&A analysts $105k to start and 10% bonus which is crap. Can't wait to be back in PE where there is a chance of that sweet, sweet carry. nothing wrong with asking for market. Last thing you want to do is negotiate against yourself on a salary. Don't let your current comp change the fact that you should be paid market + especially if you are bringing some value to the table.

Jan 15, 2019
dirtyharry:

Last thing you want to do is negotiate against yourself on a salary. Don't let your current comp change the fact that you should be paid market + especially if you are bringing some value to the table.

Bingo. To add on:

1) Don't suggest a number first. It's a shame you already disclosed your current salary.

2) If asked for a number, try to evade. "Obviously I'd like to be paid at a competitive market rate that's consistent with my peers. What does this role typically pay?"

3) If your current salary is referenced, know that big jumps aren't totally unheard of at the junior levels of finance. Your current comp is irrelevant and just a negotiating tactic to anchor the debate. Also, it's fair to say that you know you were below market, and seeking better compensation was one of the motivating factors for changing jobs.

Jan 15, 2019

If they know you're making $65, they won't offer $100. And if you're coming in at Senior Analyst or below, you shouldn't be asking for $100 to begin with.

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Jan 15, 2019

Sr Analysts in CD normally are at ~$100K base

Jan 16, 2019

disagree...should push for $100k for senior analyst in CD

Jan 18, 2019

Just like almost every other commenter has said, $100K base salary at a multibillion firm that is acquisitive is definitely market with 2 years of IB experience.

Jan 16, 2019

whats your current role? sell-side m&A...with no bonus?

Jan 16, 2019

Sell side m&a for a MM bank that doesn't pay bonus as a result of 08/09 and subsequent backing from government on condition of stopping bonuses

Jan 16, 2019

ok, yeah i think fair value is ~$100k base + 10-15% bonus.

the whole % change increase argument is BS...focus on what's market value.

Jan 16, 2019

another way to back into base salary -
look at the company's glassdoor and see what the senior fp&a guys make, then assign a slight premium to that number...CD should be at a higher band than regular finance guys. this info should be readily available for a $10b revenue company.

Most Helpful
Jan 16, 2019

Another thing I have been doing with much success is turning it back around on them when they ask what my comp is. I straight up say "I don't want to negotiate against myself. Can you tell me what range you are looking to pay for this position and I can tell you if I would be interested?" Usually, they just come out and say we are looking to pay "x" amount.

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Jan 18, 2019

great answer!

Jan 18, 2019

That's a great answer

Jan 18, 2019

Definitely going to use this in the future. I feel well paid for corp fin so I typically say look, I make X, so I would need some sort of premium to that to even be interested...

Jan 18, 2019

They're not allowed to ask salary in NY anymore. Very good leverage for negotiation.

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Jan 18, 2019

Low $100k range all in seems like market for a Corp Dev Associate. I wouldn't take less than 6 figures if you have 2 years of banking experience.

Even if the hiring manager knows what you make, I'd just tell them that you're currently being paid significantly below market due to lack of bonus and with proper bonus for an analyst at your level you'd be at 65+65 or whatever it is.

Just ask for what you want, it never hurts to ask.

Jan 19, 2019