Associate comp - am I market? What are you guys getting paid?
Curious what other associates are making in NY/SF. I’m an associate with ~4 years of experience post undergrad and am paid $130k base with a 55% target bonus so call it $200k all in.
not at a MF but large REPE firm. Probably average 40-50 hours per week.
Seems light based on my understanding of market
Associate with ~5 years in NYC. Making $190k all in and working a lot more hours.
$200K all in for 3-5 years of experience is market.
I would say ~$200k all in is the lower end for REPE, but feels commensurate with a good WLB. I’m ~3yrs of experience at a leaner fund and am at $140k base + 120% bonus. I’d say I’m slightly above market and that market pay is ~$225-250k all in for 1st yr associate in REPE on the acquisitions side.
Senior Associate. NYC/Boston. 40-50hours. 260k all in. 165 base plus 55%. 25+B AUM REPE firm.
At an institutional fund doing acquisitions, $235k all-in. 4 year exp. I think you’re in a good spot. Not crazy pay but there are a lot of firms that pay less (trust me, I was in the job market for quite some time)
Anyone have a data point they can share that works for a developer? Same HCOL and 3-5 years of experience?
120 base 30% bonus
sweet, thanks!
T1 city, 1 year development experience post-MBA but ~4-5 years total work exp., $160k and 10% bonus.
At a top 15 REPE shop. Made $225k all-in this year ($105k+$120k) and felt extremely underpaid vs. hours and performance :( Bumped up to $150k base and expect 100% bonus for associate 1 :) Also, I get absolutely wrecked and question wtf I’m doing hourly :( hope this helps. Thx
What type of firm could you give us some examples of firms
Can you read?
Genuine question - is this for PE (aka Banking 2.0)? Thought the hours were supposed to be much worse like 70+ or so, and the pay would be much better like $350-400k or so, all-in.
Or are the numbers that I usually see on this forum over-inflated?
REPE and other types (read the prompt). Hours correlate with compensation, generally speaking. I work 70-80hrs/week. Only the very top shops pay over $300k for first year associates (which is like maybe 5 shops times 10 associates per year).
I work as an AM Associate for a GP in a Tier 2 city.
Work life is excellent 40 hours normal times and 50-60 during budget season.
Have 2.5 years of exp and have been in this role for 8-months.
Base is 90k with 30k Bonus. (120 all-in)
Got a 5k raise and expecting a higher bonus for next year. (135 all-in)
Dude I work at a life co fresh out of undergrad and my base is 85k and target bonus of 25% to 35%
LOL my hours are very chill, city is low COL, and i'm 24 so can't complain too much.
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Senior Associate at a small PERE firm doing acq / am/ development / investor relations in a MCOL city. $125k base + $50k bonus. 6 YOE.
FWIW, I also spoke to recruiters and tested the market myself in 2021 and know new associate 1s were being offered at least:
Blackstone: $300k (generalist acquisitions)
TPG: $350k (generalist both acq and AM)
Brookfield: $300k ($270k cash+~$30k carry; generalist acquisitions)
These are obviously 3 of only a handful of top shops that are aspirational for most peeps.
Any indication on senior associate pay at these shops?
No f*cking clue.
Senior Associate at a small fund making $125k base and $40k target bonus. Not great but medium COL city and 40 hours WLB for the most part.
Development Associate Texas market 4 years experience 85k base with ~20-30k bonus. good wlb
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This is the case because, generally, private equity firms with funds have more cash available to them. While developers can make huge amounts of promotes, they fees they generate as a nominal dollar value are just not as large as the fees a fund generates.
For example, a $150M development might have a 4% developer fee - so $6MM over the 3 year build, or $2MM per year. The private equity fund seeding the asset as the LP may have $750MM under management, at 1.5% management fee is $11,250,000 per year in management fees. They might only have 10 people who work at the fund. What I’m trying to get at is there is just more money to pay people more at a fund because the fund just manages more capital so therefore the nominal dollars are higher.
Depends on a lot of different factors. I know my boss who is 10-15 years experience will crack $1mm this year but a lot of that is lucky timing
Holy fuck I am underpaid at $110K base and 35% bonus. At least my hours are amazing.
Seems pretty low to me for NY. I have 3 friends that exited from REGL groups with similar years of experience. All are in acquisitions/investment roles:
1. 3 years, ~300k all in (150/150) working for a new real estate arm of a UMM PE shop
2. 2 years, ~275k all in working for PERE Top 15 firm
3. 2 years, ~250k all in (significant upside in year 3-4) working for a much smaller fund that runs really lean and does opportunistic deals in a more niche sector
All work 60-70 hours. Based on the lifestyle, your pay may make sense, but id say 250k is market
Associate 4 years out of undergrad in a tier 2/3 city
REIB but really just equity placements ($10-$15mm/deal) and some advisory.
$93k base + 20-30% bonus ($113-$120 all in).
I feel underpaid but good wlb (40-60 hours). Should I be making more???? If I transitioned to a PE, what should I ask for?
Sr. Assoc in acquisitions in middle market PE at HCOL city.
$120k base + 100% bonus, 4 years of experience.
Minimum 60 hours a week, frequently goes up to 70-80 hours with live deals and budget season.
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