Post-MBA Compensation
Anyone have a POV on comp for associates a TCC or Hines? Trying to understand where market is since is shifted so much cover the past few years. Thanks
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So, this is my opinion on the question. Informed from people I've chatted with on/from WSO, my own firm (at least what I think a starting associate would get, not TCC or Hines but should be competitive at that level), and what I've seen in other fields I'd think comp against these type roles. So, said other way... a semi-informed guess, but still very much a guess (take it with tons of grains of salt)....
For new development associate (post-mba, some work exp, but first real job in real estate development)
- Base - $100-130k (with potentially higher or lower for HCOL/LCOL and firm 'level' and view one's prior experience)
- Bonus - 20-35% (with potential for much higher, with trade-off in base)
- Long-term - none (rare exceptions, major current comp trade off if offered at this stage)
Will, note, each firm will have a different market comp base (I know this for a fact for Hines), so like Houston base could be $100k, but NYC $130k, for same title/role at same firm. Also, if there is breakout of 'finance' vs. 'construction/proj. mngt' types, I'd expect the 'finance' types to get more relatively (clearly an expectation of 'MBA types').
Final note, I don't think most devcos (even TCC/Hines) care so much about the 'MBA' like other fields, BUT you may totally need one just to score the interview (I mean its highly highly competitive for these seats). That said, many firms will take 5 years of relevant experience and comp equally to a new MBA grad with less or less related experience. So take that for what's worth (also not all devcos will likely assign a premium to 'top MBA' over 'MSRE/MSRED', in fact, some will preference the MSRE/D types over 'MBA' types, very firm by firm on this one).
Hope this helps, but just keep the caveat that few rules in this space, every firm has its own view, and even each team/office within firms. So, don't be shocked to see things wildly different (even with TCC/Hines/etc. type offices).
This is very helpful! What kind of firm are you at now!
Large int'l devco, do projects that often compete with Hines and others like them.
This feels a little light maybe? Don’t have insight into post-MBA (sr associate) comp, but I am starting as a pre-MBA (associate) at Hines/TCC next month. Y1 comp for me is targeted at 95k + 10% (no idea what the reasonable range is). Received a fairly sizable bonus as well for what it’s worth. 2.5 YOE but 0 in RE besides some relevant internships.
So, tbh, I kinda thought the 'might be a little light' thing after I posted it. Like, getting to a mix of base/bonus that leads to total comp of $175k for upper range seems reasonable, and I've actually heard (very recently, via a friend who is looking to jump to development) of a "comp" (i.e this person's friend) getting an all end offer from another big name developer for $200k, but that person had few years of real estate equity fund exp, so factor that.
Will note..... I actually am not sure there is much diff in pre vs. post MBA comp at many devcos (don't think that happens at my firm tbh). So I think if your pre-mba comp is 95K/+10%, then the equivalent post-mba offering being $120k +20% seems right. To note, I am assuming equal years of direct development experience in this regard (like the 2.5 YOE would be a wash in my mind), if the post-MBA person has legit development experience prior, then yes... def much more comp possible at many firms.
If anything your comp seems a touch light to me. I can vouch for redever's numbers though. MBAs don't really move the needle much at these firms, unless you had no RE experience prior and are using it to transition. Deal experience is king.
If it's any help, I work at a medium-sized local west coast developer in a post-MBA development role. Comp is $125k base, bonuses fully discretionary, and potential for promote after ~2yrs.
I would expect that Hines and TCC associates will be at the higher end of Redever's salary range in major cities (NYC, SF, Chicago, Houston, Dallas, Atlanta) based on conversations I have had with friends who work there.
I work at a shop which is often lumped in with Hines on here, and I would say redever is pretty close. I’d guess the upper end of his range. If I had to guess what Hines is paying post-MBA associates in NYC I would guess 130-140k base + 40% ish bonus. I’m not sure what carry or long term incentives look like.
Bumping this. Anyone have decent insight into post-MBA / senior associate comp at Hines/Related/Tishman/TCC? Seems there surprisingly little info online for these online (Glassdoor has a handful of data points from 6-10 years ago suggesting 175-200k or so, but I assume that has risen).
Have to imagine it's something in the 140-150k + 40-50+% range at larger offices for Y1? I know the pay starts to really take off at VP levels and above, but that is much further down the line for most entering the industry
Interviewed in 2020 for a dev associate role. It was 140+30%.
Hines or TCC? Was this pre or post-MBA equivalent?
Hines. And no clue but I have a masters.
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