Analyst, Investment Banking - Mergers and Acquisitions

About this role

Work Location : Dallas, Texas, United States of America Hours: 40 Line of Business: TD Securities Pay Detail: $110,000 - $135,000 USD TD is committed to providing fair and equitable compensation opportunities to all colleagues. Growth opportunities and skill development are defining features of the colleague experience at TD. Our compensation policies and practices have been designed to allow colleagues to progress through the salary range over time as they progress in their role. The base pay actually offered may vary based upon the candidate's skills and experience, job-related knowledge, geographic location, and other specific business and organizational needs. 

As a candidate, you are encouraged to ask compensation related questions and have an open dialogue with your recruiter who can provide you more specific details for this role.

Job Description: The Investment Banking Analyst provides financial, strategic, and execution support on mergers and acquisitions involving biotechnology and life sciences companies. The role is highly analytical, with a primary focus on financial modeling, valuation, transaction analysis, due diligence, and the preparation of materials for live M&A engagements.

Depth & Scope: • Works as an integral member of M&A transaction teams advising biotechnology, pharmaceutical, and life sciences clients • Builds and maintains complex operating, valuation, and transaction models, including DCF, probability-adjusted pipeline, sum-of-the-parts, merger, accretion / dilution, purchase price allocation, and scenario analyses • Develops biotechnology-specific forecasts incorporating clinical timelines, probability of success, market opportunity, pricing, patent exclusivity, competition, and product lifecycle assumptions • Evaluates potential acquirers, targets, transaction structures, strategic alternatives, consideration mixes, financing assumptions, ownership, dilution, and pro forma financial impacts • Analyzes public and private companies, including financial performance, capital structure, liquidity, clinical pipelines, regulatory milestones, commercial outlook, and strategic fit • Conducts detailed diligence across therapeutic areas, clinical data, regulatory pathways, intellectual property, market dynamics, competitive positioning, and M&A precedents • Prepares valuation materials, board presentations, management presentations, process letters, bid analyses, transaction summaries, and other materials for live M&A engagements • Coordinates financial, legal, regulatory, commercial, and scientific diligence and maintains transaction models, data rooms, trackers, and other execution workstreams • Maintains exceptional accuracy, responsiveness, judgment, confidentiality, and attention to detail under demanding transaction timelines

Core Expectations: • Advanced Excel proficiency and the ability to build, audit, and explain complex biotechnology operating and M&A models from first principles • Strong understanding of biotechnology valuation, drug development, clinical and regulatory risk, M&A structures, and transaction mechanics • Ability to translate scientific, clinical, commercial, and transaction information into defensible assumptions and clear client conclusions • High standards of analytical rigor, ownership, and execution across multiple live M&A workstreams

Education & Experience: • Undergraduate degree with strong academic performance in Finance, Accounting, Economics, Mathematics, Engineering, Biology, Chemistry, Biochemistry, or a related field • 0-3 years of relevant experience in investment banking, transaction advisory, equity research, healthcare investing, or a related analytical role • Demonstrated interest in biotechnology, pharmaceuticals, healthcare, and M&A • Advanced Excel and PowerPoint proficiency; applicable securities licenses required

Who We Are TD Securities offers a wide range of capital markets products and services to corporate, government, and institutional clients who choose us for our innovation, execution, and experience. With more than 6,500 professionals operating out of 40 cities across the globe, we strive to make every interaction, product and experience remarkably human and refreshingly simple.  Our services include underwriting and distributing new issues, providing trusted advice and industry-leading insight, extending access to global markets, and delivering integrated transaction banking solutions. In 2023, we acquired Cowen Inc., offering our clients access to a premier U.S. equities business and highly-diverse equity research franchise, while growing our strong, diversified investment bank. 

Together, we are reimagining what banking can be for our clients, colleagues and communities. 

Our Total Rewards Package Our Total Rewards package reflects the investments we make in our colleagues to help them and their families achieve their financial, physical and mental well-being goals. Total Rewards at TD includes base salary and variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan) and several other key plans such as health and well-being benefits, savings and retirement programs, paid time off (including Vacation PTO, Flex PTO, and Holiday PTO), banking benefits and discounts, career development, and reward and recognition. Learn more   Additional Information: We’re delighted that you’re considering building a career with TD. Through regular development conversations, training programs, and a competitive benefits plan, we’re committed to providing the support our colleagues need to thrive both at work and at home.

Colleague Development If you’re interested in a specific career path or are looking to build certain skills, we want to help you succeed. You’ll have regular career, development, and performance conversations with your manager, as well as access to an online learning platform and a variety of mentoring program

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