Does anyone have an recent comp data for Carlyle RE? Also, what are the hours typically like? Thanks in advance!
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Not sure if I trust the data on WSO for Carlyle. The one real estate salary says 100k base 100k bonus for associate in San Francisco office. Seems very high and I don't think they have a real estate team in san fran. One other data point was for 2nd year corporate PE analyst in nyc (95 base and 70 bonus) which I thought might be a more realistic for a real estate associate.
Can I ask how you got the interview?
No interview at this time. Just have heard a wide ranging opinions on both topics.
actually the numbers for RE are correct, but they're not high, they're a bit on the low side for a top firm.
Which firms are paying well over 200k for a RE associate 2-3 years out of college?
I don't know about the SF area, but I know the DC Carlyle office base is around 120k.
I met a person who worked on a real estate asset management team for them in DC, he said 100k base and 100k bonus for 3rd year analyst (he left after the third year), note, this data point was for 2017.
It is definitely $100k salary with a bonus that can be 100% of salary. I talked with a headhunter about a position there mid 2017. I’d say I’ve seen higher salaries.
I can confirm this, I am a headhunter. The 100k base salary is non-negotiable for an Associate (Asset Management team based in NY)
clarkstreet can you discuss other REPE compensation data you might have? I would be interested in having something to compare to. Thanks!
I was invited to interview for Carlyle RE AM team in NYC and headhunter told me their target comp was $100k + 60% for year 1. So what you hear is true. I would guess acquisitions is $100 + 100% then. This was last month btw, so recent data point.
This is correct
Carlyle pays below market for a top firm. As was previously mentioned, it's around 100k + 100k for an associate. It's a tough shop for junior guys. Too many mid levelers and not easy to move up. Plus they assume you'll work there for the resume brand (which you generally will) so they don't pay what they could. IMO it's still worth it to put in your two years but its not ideal.
I was told all of the following by the recruiter who has placed for the team for years, including most of the current staff there (senior level folks included). On the acquisitions side, it's basically 2 and out for associates. AM is different in that you are not on a timeline like that, and they actually prefer to grow the AM team from within. Some AM folks switch over to acquisitions internally. The teams work together closely, but there is a divide, so don't expect to be doing much acquisitions work on the AM team, more just supporting acquisitions on diligence and underwriting when needed.
Yeah, agree with all of what the above posters are saying. For a lot of the big funds, it's a 2 year then up/out program. They pay you a little bit more than some of the other shops which are lower stress/higher chance of direct promote to make it more attractive in the short term.
Thanks for the feedback everyone. Seems like $100K + $100K is the norm for them. Any idea regarding the hours? I would assume 60ish but have no idea.
Interesting, was 90+90 maybe 2-3 years ago. Hours above 60 for sure
Thanks, Kmzz. I should clarify that I would assume that 60 is the average...obviously when there is a live deal the hours will be much higher. Just my guess though.
Would love to hear from anyone with first-hand knowledge.
Hey guys- was interested in finding out where you find these headhunters or recruiters. I have been looking around but was not able to locate anyone to help my job search. Thanks
In my experience, the recruiters will reach out to you on linkedin for positions like these. If I were looking, I would strongly consider investing in premium.
Get the premium gold badge, well worth your while...move now before LinkedIn turns into a black hole!
I know they use RETS associates. I interviewed with the AM group in DC and the pay was $130K all in.
This is correct, though for NYC they promised $160k for AM.
bump...any insight on their investor relations comp NYC market?
Bump has anybody ever been reached out to from a HH at Glocap regarding associate roles here?
Carlyle's bay area office is in the East Bay.. forget where exactly.
Good buddy of mine was a 3rd yr associate making north of 220k. They pay extremely well, but I've heard the culture is not the best.
Bump would appreciate any further anecdotes on culture / hours.
They will tell you themselves this group is "intense" - at this level though, you're in the wrong space if work life balance is a main priority
Gonna have to disagree with you there chief. I would say the Carlyles of the world are the exception rather than the rule in REPE and that 50-70 hours is much more typical than 70-90 in this space.
Strangely enough though the acquisitions team I interviewed for was all guys from local development/PE shops, and there were a handful of people from even weirder backgrounds like homebuilders or appraisal shops. Far cry from the team of ex-bankers you'd expect to be running around an "intense" shop, which is what made it so hard to get a read on the culture here in DC.
@clarkstreet average hour range for NY AM team in particular?
1st year associate was 120 base up to 200-220k w/ bonus last I head
Does Carlyle hire out of MBA? Worked as a GC and Developer, and going back to school to pivot to the finance side. REPE seems more lucrative than development, but I may be wrong.
REPE has a higher floor but a lower ceiling. Whereas development has very large variance but the upside is significantly better than REPE. Still, Development (for your own shop) can carry a ton more risk than REPE if you're on the hook for guarantees, etc.
Yes, in fact from my experience they barely look at you unless you have an MBA from top tier. Is it possible? Sure. Not as likely though so MBA won't hurt.
Headhunter at Rets quoted me $100K and $100K
Why didn't you take it Flacco?!
Is the consensus still $100K and $100k?
Also, does anyone know what the model test looks like for an interview here?
Thanks.
I've heard the modeling test is fairly straightforward (resi or simple office lease). Time limit is 2 or 3 hours.
Super straightforward, I have never had someone not do well - also it doesn't have waterfalls
Time limit is 120 min.
Are most waterfalls templated or is the expectation that somebody coming in needs to know how to build one from scratch?
Carlyle is one of the few places that pays close to IB comp for real estate #respect
Does anyone have a copy of the Carlyle or a like modelling test prompt? A PM would be greatly appreciated!
Bump
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