Compensation and hierarchy of CRE Development?
I know that it's something like this at most firms:
Analyst
Sr Analyst/Associate
Project Manager
Director
VP
Principal/EVP/Partner
I rarely see compensation above analyst talked about so what would a VP, Director or project manager see in terms of comp?
Side question: Do CRE brokerage firms generally pay more or less than development?
I like this thread and want to keep it going, but search "development progression" and it should hit back a couple threads where people answered this question.
I looked it up, as I'm wondering the same thing as OP but most if not all responses I find are from associates or below in dev.
Also wondering, bump
Let’s use a major secondary market here (ATL, Denver, Dallas, etc) since gateway cities are outliers on cost of living / salary scale.
Base Range / Guaranteed Bonus / Equity?
Analyst - 60-80k / 15-20% / Not Usually -Best comp year: maxing out at $100K after 3-4 years on the job
Sr. Analyst - 80 - 95k / 20-30% / 1-2 pts in GP equity depending on shop -Best comp year: clearing $130K w guaranteed bonus, completing a project, and a liquidation event triggering carry pay out, could see another $100-150k for equity pay out plus maybe another 50-100k in dev fee share
Associate - 105 - 125k / 20-30% / 2-3 pts depending on shop - Best year: clearing $500k all in and potentially hitting $650k all in based on combo of factors noted above plus more GP equity points / performance of deal invested in
Project Manager / Director / VP - 135 - 155k / 20-30% / 4-6 pts depending on shop -Best year: clearing $750k based on factors above but mostly more equity carry
Principal/MD/Sr. MD/EVP - 175k - 250k / 20-50% / 6++ pts depending on shop -Best year: sky is the limit, and depends on team under them, ability to source deals, and execute said deals profitably. Clearing $1M is not unheard of, but may require a liquidity event as most of the comp at this stage is carried interest. $300-500k is typically bass plus bonus plus other incentive bonus buckets, but equity carry can amount to multi-millions of dollars—just thinking out loud, if said principal has 10 points in developers GP check of $5M, that’s $500k invested. If deal returns a 4x multiple, that’s $2M payout. Bigger deals that perform scale accordingly.
size of fund or AUM, or Pipeline?
Also any info if Family Offices give any carry, or is it all in bonus and comp
Speaking to Related/Tishman/Hines above. Not sure how it varies at smaller shops.
I got what you were saying...I'm just piggybacking on this thread.
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