Trending Content - Real Estate Forum
Career Resources
WSO Free Modeling Series - Now Open Through
October 31, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
High Finance Applications
Guaranteed
Get at least one offer GUARANTEED
- 1:1 support
- 92% success rate
- 2,000+ mentor network
- Unlimited Live bootcamps
- AI for resume + LinkedIn
- Networking automation tools
- HireVue simulation tool
- Full course library
- Private Slack community
- 20hrs of mocks
- + much more...
You'll see a lot of people quote this: http://celassociates.com/prime/wp-content/uploads/2012/04/CELAssociates…
Short answer and according the the survey, anywhere from 100-180+bonus.
Long answer is I've seen guys in my lower cost of living Southern market at about 100 with a small bonus. But I've also seen guys in my market, or working in my market but from somewhere else, that are in a much higher range depending on firm, size of projects, etc. The guy developing a Lenox Square isn't likely to be in the same salary range as the guy that does 100k ft grocery centers. Helps if your dad owns the company, too, but that's a whole other conversation.
Pay in development is all across the board. I know development managers that make 75k and some who make 150k all-in. It varies greatly on firm, location, and the team's production (I.e. # of deals and profitability of those deals.)
$75K all in for a development manager? That seems absurdly low. A first or second year at a big 4 is making that already. Might as well be a school teacher...
Even $150K all in seems low for someone in charge of multimillion dollar projects.
Is real estate development that absurdly underpaid? I dont see the appeal if so.
$75k is too low (not saying coolhandlucas doesn't know people who make, just that they are hilariously underpaid). I'd put the range between $100k-$250k all in and point out that yes, it is that large of a delta.
Anyhow, the appeal, and in fact the point, of development isn't to make a paycheck. It's to get enough experience and make enough connections that you either rise through the ranks and get carry/equity or you go out on your own and make that sweet development fee. This isn't a banking career where you work 18 hour days for the rest of your life. This is far more entrepreneurial.
I think if you are more of a deal guy in lieu of just implementing..your all in comp is obviously more. Points in the deal or a cut of the development fee etc. I think the goal is for development guys is to be a deal guy overall.
This is a great point too. Plus, it's hard to get a feel on what a "development manager" makes because "development manager" means something different to different companies - even between top companies. At some firms, it's more akin to a project manager or a construction manager. At others, it's more of a underwriting role. At others, it's both. At some firms, it varies depending on the individuals' backgrounds.
And that's just base comp. Firms have different bonus structures, performance goals, etc. Place I work has two different bonus pools and a good manager can make 5%-10% of base from one and 20%-30% of base from another.
Sit porro delectus ut expedita est consequatur dolor. Id qui incidunt sequi rerum laudantium. Optio aut numquam esse occaecati non sint. Voluptates perferendis veritatis suscipit reiciendis enim tempore.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...