WSO Elite Modeling Package

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  • Elite instructors from top BB investment banks and private equity megafunds
  • Includes Company DB + Video Library Access (1 year)

Comments (10)

  • Research Analyst in ER
Oct 19, 2021 - 7:52pm

Should probably ban this guy. He just spams every ER thread with unemployment jokes and contributes negative value to the forum. 

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  • Analyst 1 in AM - Equities
Oct 25, 2021 - 9:53pm

My roommate came from biotech consulting and signed on to a comparable MM (with strong HC franchise) for $120k salary and an expectation for 30% - 40% bonus. Considered "experienced associate". Biotech ER comp is absolutely higher than standard ER

Oct 31, 2021 - 2:36pm

Piper pays less than every other middle market bank. All in comp for first full year is probably 115k base + 25k bonus. You should absolutely negotiate comp. You can probably negotiate base up to 130k and first full year guaranteed bonus of 40k. That said if you have another offer from another decent bank, you should take the non-Piper offer. Assuming you have an advanced degree, exit opps are standard buy side biotech or BD at a biotech.

Most Helpful
Nov 1, 2021 - 11:49pm

Going to step-in here because I actually have some data points based on facts. Most biotech ER associates have advanced degrees at this point, but comp is about the same regardless of your degree. Also, realize that despite the XBI performing like complete garbage this year, there is an unreal amount of demand for biotech professionals right now given the sheer amount of capital that is being deployed into the private biotech sector that is leading to a ridiculous stream of names that need to be banked into IPOs and analyzed on the buy-side. Sell side cannot even fill positions anymore they're losing juniors so quickly, and semi-capable juniors are being prematurely promoted into 4th/5th line senior analysts for banking purposes.

~$150-$175k associate straight out of school

~$250k associate with some work experience

Senior analysts are a very wide range, but can range from $400-$600k on the low end to $2-$3 mn multi-year guaranteed contracts for moneymakers/1st string (aka "franchise") senior analysts (2x2, 3x3 contracts not uncommon). 

Nov 2, 2021 - 8:35am

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Total Avg Compensation

November 2021 Investment Banking

  • Director/MD (10) $853
  • Vice President (40) $360
  • Associates (234) $234
  • 2nd Year Analyst (144) $156
  • 3rd+ Year Analyst (34) $154
  • Intern/Summer Associate (107) $146
  • 1st Year Analyst (514) $136
  • Intern/Summer Analyst (394) $84