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Salary seems low. Happens some times with small companies.
Bonus is fine. No carry is normal.
No 401(k)/retirement is clownish. Can't even remember the last time I heard of that.
Thanks. Yeah took a chance, so far not working out in my favor…
All good, now to look elsewhere when you can. Luckily, Chicago is great
I always felt you get paid at least 145+ as a 2nd year analyst at a good repe shop? Curious your reasoning on this being a standard comp. I don’t really know what I’m talking about, I just see comps posted here and there and am assuming to be completely honest.
Base made me go woah. No 401K made me go woww. You’re getting hosed brother/sister.
lol thanks, this confirms what I was thinking. Just hard to find any compensation comps for Chicago only thing I’ve come across is the 2022 CEL survey which I’m sure is skewed by NY/LA
Absolutely is low. Is there an analyst role under you or no? For reference, I made about the same as a first year analyst doing investment sales in Chicago. Associate pay was 50-70% higher.
No analyst below me. Thanks
Agree with the other comments..
For REPE the base is low.
Agree bonus is fine.
No 401k? That’s surprising. I understand that it’s harder to have with such a small shop but still should push for this.
Something to note, I had a buddy in a very similar situation as you with the pay and small shop. But he worked for a RE open ended fund family office instead of REPE. They kept his salary low but gave him incentives in other places. He got $12,000 payout for every acquisition the firm made + 401k + an option for carry once he hits his third year (he has 2 years of experience with firm). His bonus was around $15,000.
So all in he made $146,000 (base + 3 acquisitions for the year + bonus) for the year. That’s pretty good for years of experience regardless of REPE or open end fund.
Maybe this is something you could use as a base to bring up to the partners and edit in your own way for your role. Plus his experience was great being at a small shop..he could probably take another role because he was exposed to great experience being with the small shop. He still works there, good hours, good pay, and probably has carry now in the new year.
If you like the firm and think there is better upside - try for it. If not, start job searching while staying at the role.
This is super helpful, I appreciate the thoughtful response.
Location: Texas Position: Associate Experience: 4yrs Hours: 35-45 Salary:105k Carry: 100k-200k annually
Who is going to hire you?
Layoffs seem much more likely than salary increases.
Are your assets in Chicago?
I am not saying don’t look for more money but times a lean and trying to aggressive on comp with your current employer could lead to you getting canned. Your current work product makes a big difference. How much does your company need you in 2024? If you quit, could they pay someone less to do the same job or would they need to pay more for a similar work product. Maybe your work is $500k a year or maybe your work with $20 and hour.
Be realistic
Best of luck!
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