Got Corp Dev Offer - Compensation?

Got an offer as a senior associate (I think it's the same as a senior manager?) in corporate development. All-in it looks like it would range from $200-$275k (salary is $165k).

Is this where the market is for a senior associate / senior manager in corporate development? Anyone in corporate development that could comment?

Comments (22)

Jun 6, 2018

That's very high. Particularly for the title but also in general.

To answer your question directly, salary ranges are all over the place. Your data point is on the very high end.

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Jun 6, 2018

So....just jumped in to this space; if that's what you're making, then I got hosed...(ya'll still hiring???!?!?!?!)

Granted, my gig is with a small, family-oriented shop that doesn't require a lot of late nights or weekends (perfect for my blend of skill set and desire to be around for my two young kids)...there's an expectation that we don't respond to emails after hours unless a live deal critically depends on it because...nobody wants that expectation (but we run non-stop 8a-6p)

Jun 6, 2018

Very high. I would think most Sr Managers are making more like $140k-$180k all in.

Is this in the tech industry?

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Jun 6, 2018

Nope, large financial institution.

Jun 6, 2018

Oh wow, do you mind if I PM you your comp profile?

I'm a bit worried about the work-life balance, hours could be on the higher end. Comp seems great but still lower than what I made during my banking days. My primary focus is work-life balance and finding a platform that I could spend 5+ years on.

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Jun 6, 2018

Well yeah, F500 type companies can't pay what banks can. You will certainly not make as much as in banking. But even on the high end your hours in CD should be better than even an easy week in banking?

I mean most CD managers seem to make about what a first year or second year banking analyst makes all-in, depending on how long they've been in the role. Perhaps the pay is slightly higher in SF/NY.

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Jun 6, 2018

Prepare to be worked if this a bank. Bank executives are not normal amongst their peers in other industries. It is pretty normal to get emails at 4 AM with the expectation that things be done as soon as possible, at least at my old firm.

Jun 6, 2018

Which firm did you work corp dev at? I can PM you as well if you don't want to disclose publicly.

Jun 6, 2018

JPM/Citi/Barclays. I can't go into detail but it was a combined function, not just purely corporate development. Also, I'd like to clarify that those 4 AM emails were urgent but that did not mean you were expected to be up at that time unless you were on a live deal. It's just that at least my firm some execs seemed to never sleep.

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Jun 6, 2018

As others have said, seems to be quite high for Sr. Manager. I would imagine that this title would be a base of $140-$155k along with a 15%-25% bonus in most F500 firms.

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Jun 6, 2018

Gotcha, that sounds great for corp dev. I guess I'm just more concerned about work-life balance and hopefully it's more manageable than banking. Good chance I may not take the offer to be honest, even if compensation is higher than market.

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Jun 6, 2018

Talk to people who have previously worked in the group. They will give you the best answer. My work life was not terrible, but don't expect 9-5 because that's just not going to happen. Late requests happen, but it depends on your subgroup and initiatives you are tasked. If you work with a bunch of bankers in a bank, of
course it's going to be a little rougher on any team with those attributes in that environment. This decision is so firm and group specific, even within "corporate development". This term is not even that specific as a lot of banks have multiple groups that work on strategic transactions and they all can be separated from each other at some level.

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Jun 13, 2018

Sounds like a great offer. Congrats.

You won't work nearly the hours you worked in banking, plain and simple. Will you work twice the hours of your friends outside of finance? Yes. Do CD hours vary by industry? Sure. However, if your baseline comparison is banking then you'll love your newfound freedom.

The good thing about corp dev is that your hours are much more predictable. Banking shits all over your personal life in ways that corp dev won't. You can make plans and follow through because you know well in advance when your schedule is more demanding (recurring investment committee meetings, quarterly board meetings, strategic planning, etc). Hours increase during live deals, blah blah blah but corporate M&A is spread across multiple business functions which helps lighten the load to some degree.

Jun 6, 2018

Not in Corp Dev, but can confirm that this is a pretty reasonable assumption. Could potentially be a little lower, some should definitely be slightly higher, but a good baseline figure.

twitter: @CorpFin_Guy

Jun 12, 2018

This range is fairly consistent with Sr. Finance Managers at my company, but I'd widen it a bit and incorporate +/- $10K at both the top and bottom end of the range. 20% bonus, no stock.

Jun 6, 2018

I worked with a Corp dev and strategy combined team at a bank and I can tell you the team there worked far more than the traditional Corp dev teams in most f500 industries. Pay is higher because it's all ex bankers poached from that bank and moved internally, but they still work like bankers. Totally different experience than you'd get in most industries.

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Jun 6, 2018

Damnit - I just want work life balance and high pay! Is that so much to ask for?!

Jun 6, 2018

Move into software engineering or PM at a top tech company. Mid-level folks make ~$250-400k a year with hours rarely over 50/week.

Jun 7, 2018

You'll get that in most corp dev roles, but you'll be making about half of this offer.

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Jun 8, 2018
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Aug 7, 2018