Analyst, Investment Banking - Mergers and Acquisitions

Work Location:

Dallas, Texas, United States of America

40

TD Securities

$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  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.

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.

• 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 work streams
• Maintains exceptional accuracy, responsiveness, judgment, confidentiality, and attention to detail under demanding transaction timelines

• 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 work streams

• 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

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…