Anyone in Debt and Structured Finance Analyst Roles?

I'm looking to hear more about those that are in DSF in possibly JLL/CBRE/Cushman and the comps for analyst to senior analyst to Manager/VP. Understand it varies per team and region, but none the less would love insight on the role. Also looking to hear about the day to day of this role/satisfaction 

 
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I worked at HFF now JLL as a D/E analyst, and I was there for approximately 2.5 years before moving to the principal side in an analyst/associate role. I feel like I have a pretty good idea on comps at all the other firms because I still know people there. 

JLL/HFF: This can vary, but I'm going to speak to the JLL offices that are legacy HFF. When I was there it was 55k + semiannual bonus + bonus tips on a per deal basis. This could put you all over the map on an all-in basis given the variability of the market and deal flow. Good market conditions and flow you're probably looking between 90k-150k your first year. I believe the salary now days is at 62k-65k, but if you were to start now given the market with rising interest rates, acquisitions slowing down, recession coming, etc. the pay could be a lot low all-in. If you work at a debt group within JLL that didn't come from HFF you do not get the bonus deal tips, so you're salary might be a little higher maybe ~70k'ish with a 15-30% bonus today.

Eastdil: Much higher salary, looking at 90k-100k salary plus high bonuses, upwards of +50% range.

CBRE: Friend on the west coast got quoted 75k + ~20% bonus for a first year analyst. 

Cushman: I would imagine it is pretty similar to CB dependent on the team. 

Day-to-Day:

At HFF, most of my time would consist of underwriting new deals, putting together OM's, preparing pitch books, random tasks for producers which could be literally anything honestly, making calls to lenders to give them the overview of the deal and then answering any questions that they have either over the phone or email (this would take a lot of time, and then finally handling the closing process by gathering due diligence items. 

This would be a typical day for me: Get in the office before 8am and start running through emails, most likely lender DD questions. Possibly work on some underwritings that need to get taken care of. Once the producers get into the office, then I would usually go into their office go back-in-forth on a deal I'm working on with them, maybe make some lender calls during business hours. Once the producers leave anywhere from 4:30-7:00pm I would start working on the stuff I was doing in the morning. Worse thing is when you get something on your desk right when a producer leaves and they say it needs to be done tomorrow or by the end of the week, then I'm working on that until then end of night or at home or next morning which pushes everything back that I need to get done. This is the common cycle as an analyst which makes you never get ahead of your work, which is sometimes nice because you are usually always busy, but of course it can be exhausting as well. This is not to freak you out I still would have some weeks where things were slow and I could get out of the office around 6ish and most everyone try's to get out at a decent time on Friday for the most part. 

As for things I enjoyed on the debt side, it was very interesting for me at least to see the interworking's of the full capital stack and to underwrite all sorts of deals and product types. Also I would speak with our client's analysts/associates everyday on underwritings, which allowed me to understand their side very well.  This is exactly what I came to this shop for (to get good at underwriting and real estate financial modeling) and yes I was hoping to be a broker, but it didn't end that way. There is know way I could ever be a life-long analyst or insane financial modeler, but I did find it interesting. Like everyone I knew it was a great way to get into some of the acquisition shops that I couldn't when starting out.  

Hope this helps and there are plenty of other threads on this topic that you should check out if you haven't already.

 

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