2022 Canada Comp Thread
The last comp thread for Canada was posted a year ago. I'd just like to get an update to see how comp has changed throughout 2022 especially given the current volatile market condition.
Edit: I'll add my info
Current Role
Market: Toronto
Type of Shop: Pension
Current Role: Investment Analyst
YOE: almost one year
Firm Size: ~18B
Salary: ~85K
Bonus: 10%
Hours: 40-50
Previous Role
Market: Toronto
Type of Shop: Commercial Brokerage
Role: REIB
YOE: Internship
Salary: 95K
Bonus: 50%
House: 80-100
Rejected the REIB role due to terrible hours.
Market: Toronto
Type of Shop: REPE
Current Role: Acquisitions Analyst
YOE: Almost 2 years
Firm Size: ~1.2B
Salary: ~80K
Bonus: 20%
Hours: 40-50
Market: TO
Shop: Dev
Role: Associate
Firm Size: $30BN ? dev
Salary: $105K
Bonus: $30K
Hours: 50-60
Generalizing a few things here...
Market: Toronto
Shop Type: Developer
Role: Associate (Acquisitions)
Firm Size: $5-$10B
Salary: $120k
Bonus: 15%
Hours: 50-60, probably average 50
YOE in RE and YOE in Acquisitions specifically?
3 to both questions
Market: Toronto
Type of Shop: REPE at Family Office
Current Role: Investment/Asset Management Analyst
YOE: Just under 1 year (internships excluded)
Firm Size: ~$450M
Salary: $65,000
Bonus: 10%
Hours: 40-45
By the looks of things I am underpaid lol
Market: Toronto
Shop Type: REPE
Role: Investment Associate
Firm Size: ~$1B
Salary: $120k
Bonus: 35%
Hours: 55
Market: Secondary market
Type of Shop: Family Office
Current Role: Investments & Asset Management
YOE: 8 years, 2 years in CRE and 6 years in finance (with a professional designation)
Firm Size: 250M+
Salary: $110,000
Bonus: 10%
Hours: 40-45
I also feel underpaid for my years of experience.
Definitely underpaid relative to YOE regardless of secondary market unless you're in like Winnipeg or somewhere else with a low tax burden and low COL.
Market: National
Shop: Developer
Role: Analyst (more PM than finance)
YOE: 1.5 years in RE
Firm Size: ~$5B AUM
Salary: $62,000
Bonus: up to 10%
Hours: 50-55
Expecting a sizeable bump towards middle of the year
Market: Toronto
Type of Shop: Developer
Current Role: Sr Associate
YOE: Six
Firm Size: ~$5B—$10B
Base Salary: $210K
Bonus: carried interest
Hours: 60-70
Education: graduates degree
Hines?
Definitely not
Market: Toronto
Type of shop: Pension fund manager
Current Role: Director
YOE: 10
Base Salary: 200,000
Bonus: 115%-165% (varies with multipliers based on personal and firm performance)
Hours: 50-60
Education: M.Sc.
Thank you for sharing! Always curious on cdn pension fund comp in RE, especially higher up
50-60hrs at a pension - CPPIB or Oxford I'd assume?
Those hours are too low or too high for a pension fund? I'll be honest I am not aware of the lifestyle at other pension fund managers. I’ve been working there 1 year
.
Bump
Market: West Coast
Type of Shop: Developer
Role: Acquisitions
YOE: 4 years in RE
Firm Size: ~1B
Salary: 90K
Bonus: 20%
Hours: 40-50
Market: Prairies
Type of Shop: Mid-Size Institutional Developer/Asset Manager
Role: Development/AM
YOE: 1.5 Yrs
Firm Size: ~$15B
Salary: 90K
Bonus: 15%
Hours: 45-60
Market: Toronto
Type of Shop: REPE
Current Role: Investment Manager
YOE: 5
Firm Size: ~5B
Salary: ~130K
Bonus: 20%
Carried Interest: Starts this year, unsure of specifics yet.
Hours: 50-60
Is this underpaid?
Honestly Canadian salaries make me want to leave this country.
In any primary market, we are all struggling. You could go to the US and easily make USD $250K at 5 YOE.
Yeah it's definitely underwhelming in Canada. I was offered $160k base at an inferior shop recently and ended up deciding not to leave my current role.
What types of comps are you typically seeing at the 5YOE level? I've heard varying amounts, but mine generally seems to be in the range.
Market: Toronto
Type of Shop: Developer/Pension
Current Role: Director
YOE: Six
Firm Size: ~30B+
Base Salary: $180K
Cash Bonus: $90K
LTIP: $70K
Hours: 50-60
This set up is pretty awesome, is your $70k LTIP paid annually or is this $70k split over a period of time?
The $70K LTIP is paid annually. Once enrolled it pays out every year (based on a formula but anywhere from 10-80% of base salary)
Market: Toronto
Type of Shop: REPE at GP shop
Current Role: Acquisitions
YOE: Almost 2 years in current.
Firm Size: ~3B
Salary: ~110K
Bonus: 15%
Hours: 40-50
Education: Post-Grad
Nice comp, assuming you got an MBA for Post-Grad? 2 YOE in Real Estate assuming, how much experience did you have prior?
Market: Canada (MF, Industrial, Development) and US (Industrial/Retail portfolio)
Type of Shop: REPE at family shop
Current Role: Acquisitions/Investments Analyst
YOE: 1yr
Firm Size: ~500M
Salary: ~75k
Bonus: 10-15%
Hours: 40-50
REPE (US Firm)
Associate
Base: $170
Bonus: Target 20% (Lower end) Upside is discretionary and deal driven.
Old:
Sr Analyst (AN2 or AN3) at a Maple 8
103k Base + 30-40% bonus
New:
AN3 at Big 5 in Canada (S&T)
90k base + 40k-60k bonus
YOE: 3
Associate
3.5 YOE
$135K Base + 25% Bonus
TO
A little late but hoping to add to the transparency...
Market: Toronto
Shop: REPE
Firm size: ~$1B AUM
Role: Analyst, Investments/AM
YOE: 2 (in an appraisal capacity)
Base: $75k
Bonus: 25-40%
Hours: 40-50
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