Another Comp Thread, VP level and beyond Debt
I caught myself thinking about comp after looking at LinkedIn for the past few months.
I'm at a global but non-IB focused bank, took a lateral move to a group that only partly covers CRE and a hit in title. So I am looking to bump back up, and know comp for the next bump is ~190 for sr associate. with a 20-30% bonus. Hours are great, team is great, flexibility is great. But I'm looking at comps e.g. BlackRock AM VP and the salary is 200k, which I am assuming is 50% bonus, so 300k all in. This doesn't seem all that great, no? And I'm sure the hours are not super, although I like the whole team. To anyone reading this, no I didn't apply.
But it got me thinking, what is good comp on the debtside. Banks, what is base and bonus for VP level and above? Can you even lateral to a hedge fund, and does that pay significantly better? Private Credit also sounds good, but don't really want to work more than 60 hours a week, except for deals. I'm not lazy, I'm just getting older and appreciate time with my family e.g. kids. To be fair, i work after they go to sleep, which is 100% fine with me.
I'm not sure there is a real question, but what is everyone VP/Dir level and above seeing?
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Sorry to hijack the thread, but I’m curious—what’s the market comp for a VP Asset Management at integrated RE firms in NYC (e.g., RXR, Tishman)? Is the bonus typically around 50%?
For those I've been the Rhodes Associates and CEL fairly on the mark. RXR pays lower at junior to mid because of name
We ran a comp study earlier this. Mid-market REPE firms are typically comping around $225k base (mid-point), with 40-60% bonus + carry.
Agree with MPBYO that larger firms (BlackRocks, BX, certainly RXR etc.) tend to have a lower base, but bonus opportunities are expanded.
Larger firms like BlackRock have the luxury to fragment the responsibility of AM's which caps salary in some ways. I feel sweet spot for a more senior AM is going to be at a firm that is in the 10-20k unit count range (multifamily respectfully). At firms like this you are going to be touching budgets to debt/equity reporting to operations and property management etc. Much easier to make the case you are worth more when you don't have a narrow-focused skill set.
In your own opinion. Which is the better job PM at a large Debt Fund, or Asset Management?
If you are already strong with operations, then the PM at debt fund would be more attractive from my perspective. You are a bit removed from the day-to-day bullshat, but if you notice it at the property, you can help course correct it with ownerships AM.
what is your perspective? Like is it more prestigious and does it pay more?
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