Breakdown of salary ranges for different roles in real estate

Based on the most helpful WSO content, here's a detailed breakdown of salary ranges for different roles in real estate:

Real Estate Private Equity (REPE)

• Acquisitions:
  • Analyst: Typically starts around $70,000 - $100,000 base salary with bonuses ranging from 20-50%.
  • Associate: Base salary can range from $100,000 - $150,000 with bonuses from 30-70%.
  • VP/Director: Base salary ranges from $150,000 - $250,000 with bonuses from 50-100%.
  • Managing Director: Base salary can be $250,000+ with significant bonuses and carried interest.

Real Estate Development

• Analyst: Base salary ranges from $60,000 - $90,000 with bonuses from 10-30%.
• Associate: Base salary ranges from $80,000 - $120,000 with bonuses from 20-50%.
• Project Manager/Director: Base salary ranges from $120,000 - $200,000 with bonuses from 30-70%.
• Senior Executive: Base salary can be $200,000+ with significant bonuses and equity stakes.

Asset Management

• Analyst: Base salary ranges from $60,000 - $90,000 with bonuses from 10-30%.
• Associate: Base salary ranges from $80,000 - $120,000 with bonuses from 20-50%.
• VP/Director: Base salary ranges from $120,000 - $200,000 with bonuses from 30-70%.
• Managing Director: Base salary can be $200,000+ with significant bonuses and carried interest.

Credit Investments and Debt Side

• Real Estate Debt Fund:
  • Analyst: Base salary ranges from $70,000 - $100,000 with bonuses from 20-50%.
  • Associate: Base salary ranges from $100,000 - $150,000 with bonuses from 30-70%.
  • VP/Director: Base salary ranges from $150,000 - $250,000 with bonuses from 50-100%.
  • Managing Director: Base salary can be $250,000+ with significant bonuses and carried interest.

Real Estate Investment Banking (REIB)

• Analyst: Base salary ranges from $85,000 - $100,000 with bonuses from 50-100%.
• Associate: Base salary ranges from $125,000 - $150,000 with bonuses from 70-120%.
• VP/Director: Base salary ranges from $200,000 - $300,000 with bonuses from 100-150%.
• Managing Director: Base salary can be $300,000+ with significant bonuses and carried interest.

Additional Roles

• Brokerage: Highly variable. Top brokers can clear $1.5 million a year, while others at smaller firms might make around $75,000.
• REIT (Real Estate Investment Trust):
  • Analyst: Base salary ranges from $60,000 - $90,000 with bonuses from 10-30%.
  • Associate: Base salary ranges from $80,000 - $120,000 with bonuses from 20-50%.
  • VP/Director: Base salary ranges from $120,000 - $200,000 with bonuses from 30-70%.
  • Managing Director: Base salary can be $200,000+ with significant bonuses and carried interest.

Summary

• Highest Paying Roles: REPE and REIB tend to have the highest base salaries and bonuses.
• Variable Pay: Brokerage and development roles can have highly variable pay, with top performers earning significantly more.

This should give you a comprehensive overview of what to expect in terms of compensation across various roles in real estate, especially if you're targeting NYC.

Sources: What kind of money can you make in Real Estate? What are the best roles? REPE, Brokerage, REIT, etc., What are the Roles within Real Estate Private Equity?, Ask Me Anything: REPE Investment Professional, Roles Within REPE, What is your compensation in Real Estate Finance?