2020 Bonuses

Didn't see an existing thread, so wanted to get one up to chat about bonuses in this hellscape of a year. Depending on the sector, some firms are still really hurting, while some have escaped relatively unscathed.

I would typically have received a bonus+raise by this time of year, but have heard nothing yet. The senior leadership at my shop took preemptive pay cuts back in March, but things have really not turned out to be that bad (one could even argue a lot of our positions have been bettered). Wanted to hear some anecdotes from around the industry before I initiate the conversation.

Comments (78)

Dec 21, 2020 - 10:49am
CRE, what's your opinion? Comment below:

I'll find out on my 12/31 paycheck. Haven't had any discussions about it, but that's not abnormal for my company. 

Commercial Real Estate Developer

Jan 12, 2021 - 8:52pm
CRE, what's your opinion? Comment below:

CRE

I'll find out on my 12/31 paycheck. Haven't had any discussions about it, but that's not abnormal for my company. 

Forgot about this. Full bonus received. It helped that we ended the year with a bang. 

Commercial Real Estate Developer

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  • Analyst 1 in IB - Gen
Dec 21, 2020 - 2:51pm

Same. Is this normal?

Dec 21, 2020 - 3:17pm
CRE, what's your opinion? Comment below:

I feel like Q1 is more typical than end of Q4 like me. 

Commercial Real Estate Developer

  • VP in RE - Comm
Dec 21, 2020 - 9:25pm

I was told it was a tough year company wide (flat to slightly down across the board) even though my specific fund put up a ridiculous return this year. Ended up flat cash comp wise, but was given 35bps in carry on an in the money fund, so not complaining.

  • VP in RE - Comm
Jan 26, 2021 - 12:52pm

I don't know of any firms that give associates carry, but I imagine there are somewhere. 

really though, it is going to depend on how big the fund is and therefore what the projected carry is. If the projected carry is 100mm, getting 1% is pretty good. If it is 15mm, then getting 1% may not make you actually stay for 5 - 10 years to get paid out.

Most Helpful
Jan 26, 2021 - 1:36pm
crewbf, what's your opinion? Comment below:

Well the firm I'm with is offering me carry as an associate as we aren't very big, but I don't really have a basis for what I should expect. I am being promoted in the next year to Director level, but we have performance and salary/bonus adjustments at the end of the year. On top of that, there is no contingency to employment after a 1 year vest, so while I might not be there in 7 years, I could potentially have a few years of equity and I'm hoping to making at least worth something. Our fund sizes aren't huge, about $100M - $150M and we have a 8% hurdle. We only have 5 people sharing carry as well, 3 founders, CIO, and myself. Is it too much to expect 1% of the 20% considering we are pretty small?

  • Intern in IB - Gen
Dec 23, 2020 - 3:27am

Friend in RX almost 100% base, not surprising given he was absolutely crushed this year

  • Investment Analyst in RE - Comm
Dec 23, 2020 - 4:46pm

What were your expectations going into the year? Target bonus range?

Dec 23, 2020 - 7:14pm
beejay2izzay, what's your opinion? Comment below:

Tough market, just be glad you have a job and got anything at all. Think lots of firms have the same mentality, just hang in there and see what happens next year

  • Developer in RE - Comm
Dec 24, 2020 - 9:12am

Once smoke clears I assume most people will be on the move. What a crazy year. Part of working in CRE is the upside. If that's not there what's the point?

Dec 24, 2020 - 4:23pm
Ozymandia, what's your opinion? Comment below:

Once smoke clears I assume most people will be on the move. What a crazy year. Part of working in CRE is the upside. If that's not there what's the point?

If you're so shortsighted that you think one atypical bad year is reason enough to quit the industry, you neither deserve nor will get to that upside.

  • Associate 1 in IB - Cov
Dec 26, 2020 - 11:24am

REPE opportunistic firms 

  • Analyst 3+ in RE - Comm
Dec 29, 2020 - 1:10am

Bonus this year is double what it was last year, a 15 % raise came with it to. I will say though that business really kicked in the last 4 months of this year, which ended up with me working late nights, more weekends and even over some of the recent holidays.

Dec 29, 2020 - 4:30am
williamthesnake, what's your opinion? Comment below:

Interesting that in the US (where most responders seem to be here) bonuses and salaries come through in December. In London most firms generally tend to do these in around Feb-March time. 

Array
Jan 26, 2021 - 7:56pm
TheDiplomats, what's your opinion? Comment below:

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  • Analyst 3+ in RE - Comm
Jan 26, 2021 - 8:23pm

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  • Analyst 3+ in PE - Other
Jan 25, 2021 - 4:42pm

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Jan 25, 2021 - 5:51pm
Urban Mogul, what's your opinion? Comment below:

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