Corporate Real Estate/ Development
Hey all,
Would love to hear of personal experiences or insights on the corporate real estate side of things. How does comp compare to the other sectors of real estate?
Note: by corporate real estate I am referring to positions such as "Director of Real Estate for Taco Bell"
I knew someone who worked in Panda Express’ RE Division. She said the family would host seminars to teach people how to invest in real estate and create wealth for themselves. Apparently the family who owns Panda is close to the Rich Dad Poor Dad author.
For the work, I’ve heard it’s mostly considered a back office role since it’s not the primary role of the company. I spoke with the RE Development team at Starbucks and it seemed like they mostly saw it as a “job” and the actual developers for Starbucks are largely boutique companies that partner with Starbucks.
This is very different for hospitality companies though.
Also interested. I have seen various Director/VP 'corporate RE' jobs where you'd report directly to the CFO or some other c level. I think you could command a nice salary bonus and stock if they are recruiting from the REPE world. I wouldn't mind interviewing at a tech company in this role here in the bay area.
A couple contacts of mine work for Amazon Web Services, one of which is an MD. I believe it's all data center work, which is interesting if not particularly sexy.
My fiancé works corporate real estate for a large company that everyone here would know the name of. The pay is decent, not great, but higher ups make really good money including a monthly check based on how the business performed that month. The benefits though - good lord. A pension, full health care for the family (for life too after a certain point), on site gym, on site child care, on site nutritionist, free breakfast and lunch, she gets a monthly business performance check (albeit at a much smaller level), she works a full time salary position but if she works more than 40 hours a week she gets overtime, and that 40 hours includes her travel time, etc.
Old comment but if you are still around, I am interested in a corp RE position at a large restaurant (McD, Chick-Fil-A, Starbucks) but its not at HQ, do the folks in regional offices at your fiancé's company also get the same amenities and perks or are those only for the folks at HQ? Given this is a 5 year old comment, any additional insights on corp RE? Has pay, upside and exit opportunities for your fiancé improved since then? Thank you!
She still works there and actually recently moved to a non-HQ office so good find. She theoretically gets the same perks as at HQ, but in reality it can’t be the same because her office now is just an office building with snacks while HQ had a full cafeteria with free food every day, discounted childcare on site, a full commercial fitness center, etc.
Pay & upside have scaled pretty dramatically. Exit opps are weird because she has both comically shiny and tight golden handcuffs. She makes between 33% to 50% more than she would doing the same job elsewhere, so she isn’t going anywhere, and they know that, so they work her and everyone else hard.
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