Barings Real Estate?
Does anyone know much about Barings? Assuming in line with other lifecos, but if anyone has any intel that would be great. Looking for compensation and culture for Associate Director level position.
Thanks!
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PGIM like firm. Their focus has been heavily on the debt platform over last couple years and are now switching gear to vamp up the equity side of the business.
MassMutual owns the firm and is one of Barings largest investors. So there's an interesting dichotomy/synergy for MassMutual to want Barings to do well. They do seed a lot of their vehicles / accounts. Sector agnostic shop with regional offices in major gateway cities (boston, nyc, LA, Chicago). They used to have a heavy Hartford CT presence due to their insurance company heritage but are now pushing outward to expand.
Culture is PGIM like also - managable hours (40-60) and nice/easy-going people for colleagues. Not a Blackstone type of shop with cut throat and "intense" human beings - obviously, corresponding to their pay. Pay is market for these type of non-opportunitistic/intense RE shops. Associate Director (3-5 years experience) is probably floating 200-250K all in with likely no additionaly LTI.
3-5 years of experience at a life co is more like $140-175. Maybe touch around $200K by year 5 if you’re a high performer.
I was offered 225 (all in, no LTI) few years ago for AD position, 6 YE then. Their firm/fund structure may be a bitdifferent than a typical lifeco. MassMutual seeds some of the capital for Barings, but the majority of the money (70%) managed by Barings comes externally - ie. fees/incentives structure can be more akin to that of a typical investment manager. Don't disagree with your lifeco pay range.
To my earlier point, MassMutual is the biggest benefactor from Barings raising additional outside capital and increase their multiples/EV as an investment manager. Not a typical lifeco where all your money comes from the insurance company itself.
This is very helpful, appreciate it. Was thinking associate director comp might be lower as it sounds like that is the title after analyst there, so that is good to hear.
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This is correct pay range
Titles are also flat org structure, but I think there’s a lot of flex on comp between these levels (2 ADs could have very different all in comp structures)
Analyst
AD
D
MD
Maybe Barings does it different but Associate Director at LifeCos or wherever are not just another title for Associates. They have just Associate levels. AD is a level above.You can maybe characterize them as a Senior Associate level.
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That's my understanding, doesn't seem to be any true "associates" on linkedin, right to associate director. Hoping comp will can get to 175k+
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