Does anyone know what it takes to get into real estate private equity at a reputable shop (e.g. Blackstone, Carlyle, Warburg, Fortress, etc.)?
Would an analyst coming from the RE merhcant banking group at a top-5 US commercial bank stand a chance against analysts from RE IBD groups at BBs? What kind of background do RE PE shops like their analysts to have?
| +82 | LP coming into deal at higher land basis. How to model returns to GP? | 18 | 15h | |
| +76 | Increasing RE Industry's Cash Compensation, Collectively | 43 | 15h | |
| +72 | Major Decisions | 13 | 1d | |
| +28 | Niche down to an operator or stay an allocator | 9 | 3d | |
| +24 | Breaking into CRE late 20s | 7 | 4d | |
| +23 | Thoughts on joining an early-stage REPE fund | 7 | 14h | |
| +22 | Self Storage ECRI | 9 | 2d | |
| +20 | Doom Loop or Creative Urban Reemergence? | 3 | 6d | |
| +19 | How to get good at RE Modelling? | 16 | 3h | |
| +18 | 3 Hour Condo/Rental Excel Test - What Can Be Expected | 2 | 4d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
It really varies.
There are some RE PE shops recruiting at my school. Can anyone shed light on experience, pay, and exit opportunities at Real Estate PE shops when you join them right after undergrad?
I've never heard of anyone getting into a top RE PE shop straight out of undergrad, but I suppose it's possible if you go to a very good (e.g. top five) school or have some serious connections. The key thing about RE PE is that to get in you need general corp fin AND RE valuation experience.
I've heard that top shops like analystsfrom BB real estate IBD groups (even tho they have less exposure to RE valuation than ppl doing CMBS, CDO, mezz type stuff). Pay is supposed to be the same as other PE groups and so is exit: pre-mba=>b-school, mba=>stay at firm for life.
This is my understanding from the outside, but I'd like to know more from anyone who actually works at a top firm.
Look into Goldman Sachs REPIA (Real Estate Principal Investment Area). They higher several analysts for full time and internships every year from my school.
I know some people who work at RE PE and the pay is definitely not on par with traditional buyout shops. Unless you climb the ranks and get an equity kicker.
I would be interested to know, how much below par?
Depends but I'd say anywhere from 30-50%.
Interesting. I work in REPE (opportunistic/high return strategies mostly) and invest internationally.
That sounds like a big difference. I guess partly it's because the business is generally smaller in terms of deal size than traditional corporate PE (buyouts, etc...).
Would the difference remain in firms that have both traditional PE and REPE?
I wonder if it is the same situation with firms that do traditional buyouts in the real estate and related sectors.
PrivateInvestor, what as the salary at PE shops ?
PrivateInvestor, what is the salary at PE shops ?
Can anyone else confirm that the pay in Real Estate Private Equity is really 30-50% less than regular buyout shops?
x
any responses??
I am interviewing at a real estate private equity firm directly out of undergrad. Does anyone know the compensation for a first-year analyst? What is the typical base+bonus?
Thanks
I heard DB has good REPE
I'm interested to hear how this turned out. I'm in the same boat currently.
If you do GS REPIA, you want to work in the NYC office (it is headquartered in Dallas). NYC does all the acquisition work and does most of the acquisition analysis (valuation, etc.). Dallas manages the portfolio and properties. Even though it is the HQ, it is not where you want to be if you want to do RE PE longer-term.
I hear that some hedge funds are beginning to get into the real estate game. Has that affected pay at the RE PE shops?
Pere sals in london are around 70k + 50K bonus for fresh MBAs
and around 170k in us
that is excluding signing bonus
Deleniti laudantium mollitia qui sit. Id qui ut eius atque.
Et aut voluptas aliquid illum. Magnam vel molestias autem sed. Odio est ad perspiciatis ipsam laboriosam. Necessitatibus laudantium aut ad tenetur.
Porro facilis ullam harum sit. Hic reprehenderit est minima. Consequuntur officiis aliquid nihil earum sequi et. Delectus accusantium earum odio molestias aut.
At adipisci sed quibusdam. Occaecati culpa ut quibusdam maxime molestias unde ea dicta. Explicabo consequatur quis autem nulla consequatur. Velit quas cumque corrupti qui ut reprehenderit iusto eum. Et debitis architecto qui molestiae id doloribus. Soluta voluptatum non tempora corrupti quibusdam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Vel sequi ex qui eius ut excepturi hic. Est veniam quisquam et laboriosam exercitationem earum quis. Aperiam aspernatur recusandae nam aut est sed.
Voluptatibus rem error illo molestias. Aliquam animi ut doloribus rerum voluptatibus. Repellat voluptatem deleniti eius placeat est qui ut.
Quas nisi quas ut laboriosam. Est sed quidem quas nobis occaecati. Rerum magni debitis perspiciatis praesentium. Nemo numquam iure earum maiores. Nihil et consequatur possimus itaque assumenda voluptatum libero. Quaerat laborum ea unde deleniti quis. Laborum labore architecto placeat quis porro nostrum. Voluptas voluptas quae rerum placeat aperiam sed.
Soluta voluptatum et vero perspiciatis. Quia quidem itaque in quam sed tempora. Suscipit ipsum culpa autem. Optio suscipit in et magnam voluptas enim omnis. Dolor enim delectus qui neque. Deserunt vitae in molestiae facere sunt sed itaque. Deleniti aut excepturi soluta rerum doloribus sapiente.