That's 500:1, which is not horrible. What's the responsivity of the PD?
Assuming it's around 0.25 A/W, which is typical for silicon in the visible, that would be 2.5 uA to 1.25 mA. If you pick a 20k resistor, that gets you to the shot noise + 3 dB at the low end, and 25V at the high end, which you can do with a reasonably normal amplifier if you run it off asymmetric supplies like +28/-4.
At 40 MHz you'll probably need an AC tweak to keep the response flat, and that would differ between ranges.
If you do decide to use range switching, use a relay to switch the whole feedback resistor + AC tweak in and out.
Cheers
Phil Hobbs