Hi, I work at an advisory firm and manage one PE clients CRE portfolio totaling $2bn. I’m currently paid approximately $100k with $10k bonus. The client pays my firm approximately $250k annually in which my company has a margin of 40% on me.
According to CRE compensation list and other resources I’m thinking base should be around $125k p+ $25k bonus.
anybody have any other resources or ideas of advisory comp? Possibly industry averages where a 25% margin or the line is the norm.
This will depend on your years of experience, what you do, what your hours are. I'm not even sure what you do, portfolio management for a brokerage for external clients?
I have about 4 years of CRE portfolio management experience and 2 years of CRE direct lending. Currently manage the $2bn portfolio, monthly/quarterly/new purchase reviews but duties are expanding in to more daily tasks in addition to my current responsibilities. I work remote.. usually 35-40 hours a week, but every quarter I’ll have 2-3 weeks of 80-100 hours. I’m at a CRE advisory firm.
I don't know, 6 years in i don't see 150k all in as being crazy money.
Agree with Monkeydawg. Go to your manager with 1-3 offers and ask them to help you pick out the best one. If you are worth keeping, they'll match or beat it
Got it thanks boys.
Playing devil’s advocate, but don’t be surprised if even after matching another offer and deciding to “keep you on”, that they start looking for a suitable replacement for you immediately after the raise.
Depends on your relationship with boss and office culture, but plenty of employers out there who won’t like the strong arm tactic so be ready for anything.
All right. So forgetting the other offer tactic because I’m not that far along in the process. With annual reviews coming up.. I’ve done as much online research as I can find, namely CEL salary list and feel as though I’m about 35-40% underpaid. I don’t expect the company to move anywhere near that much, but would it be stupid/or would you guys ask for a say ~25% raise? Obv I’d come to the meeting with as much support for my case as possible.. side note, any other online sources you all suggest for pay? Aside from CEL salary list..
There's this spreadsheet a bunch of WSO members have added to, in case you haven't seen it.
https://www.wallstreetoasis.com/forums/new-new-cre-compensation-google-…
Rhodes comp survey
Talk with some recruiters in your area that specialize in cre or finance and they should be able to give you a range on what’s market for your experience/field/pedigree etc. That plus everything else you’ve listed should be enough ammo to go with to ask for the 25% raise. Plus having offers as either back ups (if you decide to walk) or to use as leverage and you’ll be in a good place.
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