CIM Group - Current culture?
Considering a senior role on their LA Development team.
Anyone have recent exposure to the company culture? Heard they went through a bit of a washout phase the past couple of years and were known as a sweatshop for a while.
Anyone got any inside info?
Have only anecdotally heard it’s rough here on WSO. Think they pay fat tho
I really enjoy working on the development team. Have made many close friends/profesional relationships with folks on the development, investments and leasing teams. If you like working on a high volume of projects, a variety of asset classes, and a wide range in capitalization (from $5m retail repositionings to $100M+ mixed-use projects), you will enjoy it. A few other considerations: In LA, CIM has an in-house construction team and does not hire GCs for any projects. Also, unlike other traditional developers I have worked for, CIM has a large large private equity business and you will have exposure to interesting debt transactions and LP investments, in addition to your development projects.
You in the LA office?
Yes
Hows the WLB on the dev side? I know it can be pretty grindy on the investment side...
How is the comp package?
Honestly seems kinda low. They said they couldn't get past 200k for base and this is for a VP level position.
Granted idk if the hiring manager is just playing hard ball or not and also I'm not familiar with what their bonus structure looks like
Lol they pay associates in the PE group $175k base and $125k bonus. These are kids with 18-24 months of experience after college. This is a real data point from someone I know.
From what I understand about senior level comp at PE firms. Base salary never really gets that high. It’s all in the carry / bonus. That’s how it works at my company. Some people’s base barely changes between associate and VP. But bonus goes way up
I was having coffee with a principal from an Ares/KKR/TPG type of shop earlier this year - they described CIM as “a revolving door”.
I was having coffee with a principal from an Ares/KKR/TPG type of shop earlier this year - they described CIM as “a revolving door”.
Would be interested to know as well so bumping this. I've heard it used to be an absolute dumpster fire hellhole, but not sure about now.....
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CIM for VP for Infrastructure? Any intel? Culture specifically
Sweaty
.
Never talked to their LA team, but I interviewed for a different team of theirs. Thought it would be a dream to work on their projects.
Turned out to be the only interview process I removed myself from due to how toxic even the interviews were.
Hear the pay is pretty good.
Just about everything else sucks.
Folks I respect have come and gone from that place. Indicative of what one is signing up for.
Guys who own CIM are total d@cks
Think the have the greatest shop on planet earth.
Active group but I don’t know anyone who worked there and liked it outside of the deal level experience
We worked with them on several projects. All their LA people do is make a simple deal look more complicated so they feel smarter than you.
I heard something like out of all their vintages they’ve never been in the carry. That it’s a money-raising, fee-clipping machine, but that all speculative, risky development and rehab deals they have done go sideways etc and so the fund level returns have never been great. Anyone have color on that? Was told to me by an ex employee.
I feel like that is 90% of developers in general these days unless you built in like the 90's or early 2000's and held on, or had some truly secret sauce and perfect timing.
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