CorpDev Salary Expectations
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.
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.
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.
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.
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.
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.
Sr Analysts in CD normally are at ~$100K base
disagree...should push for $100k for senior analyst in CD
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.
whats your current role? sell-side m&A...with no bonus?
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
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.
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.
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.
great answer!
That's a great answer
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...
They're not allowed to ask salary in NY anymore. Very good leverage for negotiation.
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.
One thing to keep in mind is a lot of HR folks are looking at "market comp" a lot of times they will lump CD with corporate finance together.
You are severely under paid I am making that currently doing operations in the south and have been graduated one year and work low hours. I would see if another company would offer you that and make a hard pitch for 100k . One way or another id get that salary bumped up.
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