CRE Operator Comp
Acquisitions VP at a small coastal operator (<10 people). Looking to survey other operators to compare comp:
YOE: 5
Base: $140k
Bonus: Max of 8% acq fees & ~40% (got $50k in a brutal year for the firm)
Carry: 5% of promote earned by the firm
Based on the WSO Dataset, compensation in real estate finance, particularly in acquisitions roles, can vary significantly depending on the firm's size, market, and the individual's role within the company. Here’s a comparison to give you a broader perspective:
Carlyle Group Associate Compensation: At Carlyle Group, an associate on the acquisition side in one of their West Coast offices has a compensation structure of $95k-$105k with an 80%-100% bonus. This provides a reference point from a large, well-known firm.
Senior Associate at a $10B+ AUM Firm: A senior associate involved in acquisitions at a firm with over $10 billion in assets under management on the West Coast reports a base salary of $115,000 with a 50-75% bonus, and additional benefits like 401k, medical, dental, and vision.
Associate VP at a ~$10B REPE: An Associate VP in commercial and retail, focusing on opportunistic investments at a roughly $10 billion REPE, mostly in NYC, has a base of $150K with a 50-100% bonus and a 5% promote for deals led. This individual reported making over $400,000 in a particularly busy year, though typically expects around $275K.
Your compensation package, with a base of $140k and a bonus structure tied to acquisition fees and a portion of the firm's promote, seems competitive, especially considering the smaller size of your firm. The carry percentage is particularly notable as it directly ties your compensation to the success of the firm's investments, which is a common practice in smaller, more agile firms where individual contributions can significantly impact outcomes.
Sources: What is your compensation in Real Estate Finance?, What is your compensation in Real Estate Finance?, What is your compensation in CRE Lending?
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