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Very rough estimate as I intern in Corp dev in tech, but obviously have limited knowledge about salary figures that high up
350K all in 200k Base 80k Bonus 70k stock
Keep in mind this is for a firm where the hierarchy goes:
Analyst (120k all in) Associate (160k all in) Manager (220k all in) Senior manager (275k all in) Director (350k all in)
Thanks! is there a layer above Director at the company?
What industry are you in? Those comp numbers at the junior level look really high. 120k as an Analyst is almost IB comp.
Director roles at those companies require more than 7-10 years of experience. Within FAANG companies, Director is a pretty high up position. People at this level usually have a top tier MBA and closer to 12-15 years exp (4-6 pre-MBA, 7+ post-MBA). There's obviously no hard and fast rule to this, but this is generally what the work experience of a typical entry level Director looks like. Comp is prob 500k+ for a FAANG Director. Not exactly sure what the break-out will be but base salary tends to be lower than you would expect in other industries. So something like 225k base/175k stock/100k bonus would be about the right % mix depending on company (for example, Amazon has a max base salary of 160k so their comp skews even more towards stock/bonus)
Keep in mind that the title 'Director' varies a lot between companies. Within the companies you mentioned, Director is a much higher up position than in Tier 2/3 tech companies. As someone who currently works at a large Tier 2/3 tech company within Corporate Strategy (so prob similar comp to Corp Dev), a Director here makes closer to 325k all-in (~200k base/60k stock/60k bonus)
Thanks for the info. By "Director", I meant one layer below VP / head of corp dev.
Does that 500k+ range you mentioned apply to this level of people? (ie comparable to those making 325k at T2/3 companies you mentioned)
If someone came in to FAANG Corp Dev after an MBA or post-IB, how much would it matter what IB group they were in? For example, TMT vs M&A vs a generic coverage group?
I think TMT or M&A would def be preferred, but I don't think you are locked out if you don't have that experience, but it will def be a tougher sell if you are competing against a bunch of guys with TMT or M&A exp
Just want to clarify one thing - Director at my current company (large T2/T3 tech company) is not the same as Director at a FAANG. The VP level at my current company would be the most analogous to a FAANG Director (and the comp would reflect that, VPs at my company make 500k+).
If you are going into a Director role at a FAANG reporting to the VP/Head of Corp Dev, then yeah you should be making 500k+ there
What's the typical difference in comp between corp dev and FP&A? Does 20% or so less sound about right?
It depends. Some companies classify Corp Dev as a Finance function in which case they are bound by the pay bands for the Finance job family. In this case, the comp difference between traditional finance roles (FP&A, Product Finance etc) wouldn't be too different from Corp Dev. Some companies will classify Corp Dev as a separate job family (ex. Strategy, Business Development or something else altogether). In this case, the pay would be higher than traditional Finance roles and I think a 10-20% pay difference sounds about right, maybe closer to 10%.
One thing to keep in mind (and I know this is a tough pill for all the Finance hardos on this forum to swallow) is that jobs like Corp Dev or Corp Strategy are not revenue-generating positions within a corporation and are therefore are not compensated the most. Not only that, these are not considered 'technical' roles either so the nerdy engineers from non-target Podunk state school with a Bachelors in electrical engineering are probably making more than you. For example, I work in Corporate Strategy within a Tier 2/3 tech company and I am well aware that someone in my level within the Engineering org or Product Management org or Sales org prob gets paid more than me. Probably >20% more than I do. And it makes sense, theres an army of ex-consultants or ex-bankers or ex-Corp Strat guys that can do my job just as well if not better than I can, but finding high quality Engineers, Product Managers or Salespeople is tough. Also, those guys are either directly generating revenue for the company (Sales) or are just 1 degree removed (Product, Engineering). I get great facetime with the highest level execs at the company and I get to work on some really cool shit, but at the end of the day, my job is just to influence those executives. I have no quota to meet or customers to answer to.
When you see the big picture of how a company is structured and what is really valued to the bottom line, you will understand why there isn't a huge difference in pay between 'regular finance' jobs and Corp Dev/Corp Strat because at the end of the day, both teams are adding similar levels of value despite what people on this forum may think.
Wanted to agree with the poster that says 7-10 years experience is much too low for a director level position. That level would likely need 12-15 years experience from what I’ve seen.
7-10 years experience would likely come in at a manager/senior manager level at my company.
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