I'm a now 3rd year production analyst at a DUS shop. I screen, submit deals into FNMA, price, quote, issue apps, and occasional do rate locks on all FNMA transactions.
I'm located on the east coast; Primary market. My comps is all in around 90k-100k.
Could you please opine on how fucked I'm getting? Also, what should be the proper comps at my level?
*** Just found out my all-in is par with one of the 1st yr analysts (fresh out the school)…. ***
Any intel will be much appreciated.
Thanks
What are your hours like? If you’re doing 40, I think that’s decent- if you’re working over that though, it’s definitely not. Regardless, with that kind of background, you could easily land a role at an equity shop that’ll pay you more. Good luck! Which east coast market per chance? I’m in DC if you’re looking for connections.
OP here - PM’d
Sounds pretty light in terms of responsibility. If your hours are 40-50 at 110k all in ur paid correctly
Responsibilities and hours should be light as that’s just pretty standard agency stuff. But OP’s pay is just not market and he is underpaid. I am a GSE screener. Since agency is relatively a very profitable business model plus you can get away with having fewer employees compared to balance sheet lending, there should not be any excuse to not pay people well or at least market.
Got it, didn’t know that was standard tbh thanks for informing me
Could I PM you?
I see. I just found out one of our 1st analysts comp (fresh out college) is like right on par with me.. so I’m losing my fucking mind lol
Lol, there was a Covid/inflation bump across the board for us. Analysts who just started are starting at a comp that experienced analysts had to wait 3-4 years before getting that same comp. People were bitter but it is what it is.
I am a DUS/Optigo screener in a similar role. On the low end at your experience, base should be 90K-100K (typically non banks) and on the high end base should be $125-$150K (typically banks). Note this is just base and these are data points based on personal experience with GSE screening. So yeah I would say underpaid especially when you add bonuses. Look elsewhere or ask for a raise. Hard to believe with bonuses you are still below 100K when it is not unusual to see 50-100% bonuses especially at shops like Berkadia or W&D. Banks will have lower bonuses but their base is higher. Your pay could also be due to the low volume at your shop. If you are not at a top 10 DUS/Optigo lender, try to get there if you want to stay in agency. I kinda know which shop you might be at as you specified only FNMA and I know of a few shops that only have a FNMA license as they send us Freddie deals as we have both FNMA and Freddie licenses. If it's the shop I am thinking then yeah your pay could be due to your shops' volume, it's not your fault. I know your hours should be pretty decent (today I had literally nothing to do, this is not hyperbole but of course some days will be busy and I like the ebb and flow) but dont let that make you settle for under market pay. I know I will not be paid as well as the equity guys and I am okay with it given the work life balance, security and most importantly because I am paid very well for GSE standards.
Thanks for the thorough response.
Yeah, we have both dus and optigo licenses. It sounds like I’m gonna either ask for a Shit load of raise or jump the ship….
Deal flow is Fucking nuts. Deal queue is piling up, but I refuse to work abused hours when I know I’m not getting paid fairly.
Tier 1 Market
Bank GSE Lender (Top 10 DUS Lender for FNMA and FRMC)
35-40 Hours Per Week (40-45 if busy)
2nd Year Analyst
115K Base + Estimated 20K-25K bonus
All In : $135K - $140K
Sounds like ya boy got some negotiating to do this year lol. Thank you for the intel.
If your banks rhymes with Argo do you know the associate pay, is that the next step for you once you get promoted? I work for another top 10 bank GSE lender and trying to see if my pay is competitive.
Know a colleague who is at that shop and informed me associate pay is $150K base + expected bonus of $30K-$35K. Also in Tier 1 market.
Similar role to you. 1st year AN at top tier FNMA lender. East coast, tier 1 market. 40-50 hrs/week (usually closer to 40). ~90k all in comp.
I’m at a GSE nonbank lender in the DC area and my first year analyst comp was $85k base with a 25k bonus for reference.
Good shit. Still there? What’s your comp looking like now?
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