7 year experience looking for some advice and point of views
For context, I'm 7 years into my career (AVP currently at a 20+B AUM shop) and interviewing for Senior Associate/Director/VP levels out west (moving back from the east coast). I'm already in a good spot and only consider moving cross country for the right gig. I apply to anything from Sr Analyst/Associate to VP levels thinking all titles can be negotiated for the right candidate.
I have several interviews coming up, one of them is for a Sr Analyst role. Is it strange to bring up the salary range during the first phone call (with HR) just to see if I should even waste my time going down the interview process? Should I even apply to these Sr Analyst/Associate roles in the first place? Anyone in similar positions as me?
The only reason I apply to these roles being deemed lower level than where I am is for the potential to get into the carry pool. Not even close to that at my current shop but I figured at a smaller shop, you can negotiate your position for carry even as a non executive team member.
We're in a similar spot, experience-wise. Personally, I'd take the step back to Associate for the right firm/project/team/actual responsibilities/etc. but I have absolutely zero interest in an analyst role and wouldn't even consider it. I worry that you'd find 8-10 hours a day in Excel after having what I assume were actual responsibilities to be unfulfilling.
Similar spot title-wise as well - if you're jumping from one part of real estate to another (PE to development or vice versa), I wouldn't worry too much about taking one step back in title for something you feel is a better fit long-term. I wouldn't advise you do the same for a lateral jump. My concern would be it would set you back 2-3 years in your career, plus your earnings for the next few years would be anchored lower, plus anyone looking at your resume is going to view that as a red flag.
If you like the spot you're in and you only want to move back out west for the right gig, why even interview for jobs that are below your current position? Doesn't sound like you have a gun to your head and can wait 1-2 years until the right job opens up. So long as west coast means a major market and not Boise, I don't think you'll have an issue finding something at your current title that's a good fit.
@WIREAlum" CRE What type of all in comp are you all looking at that experience level? I have about 7 years of experience in RE all within the equity side. I am going in for another round of comp negotiations in Nov. Always curious where market is as it is tough to get comps once you hit a certain level. Currently at $225k all in including carry. Was thinking $265k - $275k all in.
It's worth noting that title/seniority is not universal across the industry. Many firm follow the traditional 'corp' path which something like analyst->associate->manager->director->VP->EVP->C-Suite. You can also throw a Sr. in front of all those ahead of EVP if warranted for mid-steps. My firm follows this structure and Director is first real rank of mngt/seniority.
Others follow more of the "banking" structure of Analyst->Associate->VP->Director->MD->Head of->Global Head of->C-Suite. with Sr, Asst (which is what I assume your AVP title is), and other stuff like Exec Director all thrown in.
That was just predicate for those reading (I'm guess the OP knows most of that). If you apply for anything that is a "downgrade", and not reasonably a lateral from the perspective of your firm's name/size/reputation is likely not to get a great response. From an employer's perspective, giving someone a job that is "less" than what they have is just not a good idea.... to much risk they feel slighted/underappreciated or worse, there is some "hidden signal" that they failed or were about to fail at old firm. If the hiring manager understands your story and is cool with it, this can be totally overruled, but it does take having the chance to sell yourself to have the shot.
It really is easier to "punch up" and get a higher order job. If moving from smaller to larger, then lateral can make sense. If going from tiny where titles are clearly inflated (like a VP at a five person shop), then going "down" to say associate is also totally doable (and not uncommon) but the hiring firm needs to realize that is the case.
I think people hired at my firm as "associate" may have had better titles at smaller firms from time to time, in fact, our "associates" are pretty experienced an many have 7+ years total exp and much of it in development. So, it helps to know the nature of the firm, but in all honesty, aiming upward is likely to payoff more than not.
For those of you who have experienced long term unemployment, like I have twice in the past 15 years, know that a career path is not always linear. I think working for the right company and field / sector posed for growth is more important than gently dialing the faucet higher. Violent swings in title and role may be involuntary but if you end up recalibrating and having a 10 year strong run, all that is in the rear view mirror.
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+1. Keen to hear more on this if possible :)
Damn, I'm in the same spot. I have an upcomming opportunity to name my title with just over 7-years experience. Is there any title I should shoot for? It is s smaller firm but has the capital to become a 1-2B AUM(assets not equity) sponsor in the next 2-3 years. Is VP too big a title, it would come with heavy responsibilities?
What are you now? VP for 7 years experience is appropriate.
do not attempt to negotiate salary / title with HR...they have zero role to play other than admin...this should be common knowledge.
honestly, i wouldn't bring these things up until after you have an interview with somebody higher on the food chain....you interview, get tem to like you and be impressed woth you...and THEN you make your ask.....not before. This is basic strategy 101.
To be fair, asking HR about the range is not the same as negotiating salary.
I also wouldn't lead with discussions about money though.
Mixed feelings on this, if you are being headhunted/recruited and think they might not meet your current or needed range, I would totally ask the HR rep (they almost always know the budgeted/targeted range, but sure they are not the final decision maker).
If you are applying or trying to work your way in, then waiting for them to ask or make an offer to you is logical (assuming an aspirant job/firm).
For jobs I actually wanted (and I guess accepted looking back), they brought up salary first, I absolutely waited as long as possible. With headhunter calls, I want that info ASAP before I decide if I should even send a resume/CV to them.
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