Affordable Housing Comp
I’d be interested to see what the typical total comps are for those of us doing affordable housing development.
YOE: Position: Base Salary: Bonus: City: Hours:
Etc
Based on the most helpful WSO content, compensation in real estate development can vary greatly depending on the market, company, and the specific deal structure. For instance, one user reported a base salary of $85,000 with a bonus of around $5,000-$10,000, plus benefits such as 401K and health insurance.
However, another user mentioned a different structure, with a mediocre base salary, a 20% bonus, full benefits, cell reimbursement, company card, and a half a percent equity in every deal. Once they start running projects on their own, they'll also get benchmark bonuses and that equity percentage will go up.
It's important to note that these figures can vary widely across different markets, companies, and deal structures. It's all about what you value in a compensation package.
As for the hours, it wasn't specifically mentioned in the WSO threads, but typically, real estate development can involve long hours, especially when projects are in critical stages.
Remember, it's not just about the numbers, but also about the overall package and how it fits with your career goals and lifestyle. Keep swinging from those trees!
Sources: Q&A: Master of Real Estate, What is your compensation in Real Estate Finance?, Explain Affordable Housing?
Bump
I got offered a job in Minneapolis at a family office.
YOE: 0. College grad.
Position: Analyst
Base: $60k
Bonus: Not sure maybe $10k
City: Minneapolis
Hours: 40 maybe 50 when busy
Etc: etc. yeah
Lincoln ave?
No a small developer
YOE: 6
Position: Associate (bank lending)
Base: $150k
Bonus: $40k
City: New York
Hours: 40
YOE: 0 (out of school)
Position: Affordable Housing Underwriting Analyst (Agency Lender)
Base: $75k
Bonus: $20k
City: DC
Hours: 40
YOE: 2 in affordable housing financing, roughly 8 years in total (lateraled after a S&T job)
Position: AVP (bank lending)
Base: $175k
Bonus: $50k
City: Houston
Hours: 50-60 average
YOE: 0 (out of school)
Position: Affordable Housing Underwriting Analyst
Base: $85k
Bonus: $12k
City: Southeast
Hours: 40
How much do you think this guy makes?
https://www.linkedin.com/in/julio-e-arreola-6ab917121
$120k plus 15-20% or something
YOE: 4
Position: Project Manager - Acquisitions and Development
Base: $135,000
Bonus: $5,000
City: Socal
Hours: 40-60 depending on dealflow
Etc: Public Sector
bump
YOE: 2.5 (Grad in 2022, working in aff ever since, started with this dev in Sep 2023)
Position: Analyst (development)
Salary: $70k
Bonus: idk maybe $5k?
City: DC
Hours: 50-65
I personally think I’m getting screwed (esp after reading this comment section), but love the work. Been grappling with going to get an mred and going private.
You do not need to get an MRED to go private in DC haha
I know, would rather not take another lateral step tho
YOE: 2.5 years
Position: Assistant Vice President (Associate Equi.) (Banking)
Base: $90k
Bonus: $10k
City: Charlotte
Hours: 40, 60 if lot of deals going on
From my understanding, the larger steady pay in AH is at the Vice Present title or higher at a Bank (weather that be at a lender or a syndicator, probably higher at the ladder). Less steady, high risk, but much higher pay is going to go to developers (takes money to make money)
Hey I work at a large LIHTC syndicator but comp numbers are fairly secretive for more senior leadership. What can a VP or MD expect to make in regards to base and bonus at a well-known syndicator? Would the most money in syndication be in starting your own shop?
YOE: 5
Position: Development Director
Base: $200k
Bonus: ~85% + carry
City: NYC
Hours: 50
Jeez man, that doesn't suck. Have you guys grown super quickly? What's the experience been like?
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