Brokerage Job Offer
Hey all,
I just received an offer from a pretty decent I-Sales team in my market. Comp is in the 40s with a little commission on all deals (which on an average year would be a bit higher than where I am at all in now). Does this sound like a reasonable offer? I've already got some experience in the market and so the base is a bit lower than what I'm at right now, but upside seems way higher.
What is your expected range of total comp? It's hard to judge without a range of what the 'little commission' is worth in your eyes. Also, what kind of market are you in? If you are in a secondary market, the 40s base + split sounds reasonable, assuming this gives you a path to full production in a few years. If a primary market, it may be low...but..
Given the state of the world, all in all, it may be very, very fair compared to other options. Not sure the market, prop type, etc. but transaction volume may fall, some places by a lot. Thus, the base is really valuable, but the upside maybe not as much in short term.
If you think you will learn a ton from this job and make solid connections, then a good deal regardless. Still, what job are you giving up? Is in CRE or something else?
If you are really good in sales, you can make decent money there. I work at an investment bank and brokerage, and some investment advisors here from the sales team make multiples of what I make - they buy apartments from just one or two month bonuses, etc (if they made a decent deal). But you gotta be damn really good in sales, otherwise your income will be mediocre.
P.S. They base pay excluding the bonus is really shitty, but come on, its is a sales job, you should sell and then you earn.
Make sure the commission sharing agreement is pretty clear. In my brief brokerage experience it is pretty easy for juniors to get muscled out of their splits on a transaction.
Thanks to all that have responded, it's more of an analyst role over sales (I am coming form a similar role). We verbally agreed that comp would be in the 60s all in.
Commission was more in the shape of a bonus too, is it normal not to have that included in the offer letter?
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