Acquisitions Associate Comps (BOS/NY)
Gents,
I have an opportunity to join a Developer/Asset Manager as an Acquisition Associate. They focus on multifamily & industrial properties (ground up & existing) with currently $4B AUM. Deal size ranges from $40MM - $100MM. I just finished my MBA from an affluent school in Boston and have about 4 years experience in CRE. Not on the Acquisition side. Current position is in CRE Commercial Lending with a bank.
What kinda of compensation should I be looking for, salary , bonus etc? Should I mention a co-invest interest possibility on the deals?
Was that school in Boston or Cambridge? Regardless, well done.
Thank you, the school is BC.
Unimportant but you made this seem like Harvard or MIT and it's Boston College???
I'd expect Base of 100-150 (wide range depending on your negotiation leverage) and Bonus of 20-60% (again, wide range, it really depends in RE). Market pay for an MBA w 4 years experience, at a 4B AUM firm, is probably somewhere in the middle/lower-end of the range I said.
So many factors in RE that determines comp....
Thank you very much for the feedback. When you say 'depends on RE', are you referring to the deal size, property type, volume, etc?
I meant comp varies widely in the RE industry. Look man, it's all down to what you bring to the table right. I understand you're a few years in but if you're well connected to the local brokers/municipality, prove you can push deals and transact given established relationships with sellers/owners/what have you - then you can justify the higher of that comp range. If all you're bringing to the table is analytical skills, then probably the lower end until you can prove yourself at the job. There's really no standard pay grade in this industry....There are associates out there who have been doing this for few years that can spitball some names and what not and justify a higher pay, name dropping comes in pretty handy in RE as well.
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