Dev v REPE Partners
What is the consensus on partners/founders/execs at REPE firms vs Dev firms in terms of compensation? Specifically more MM or boutique firms. I know at MF they’re all making piles of money, but what about smaller firms all over the country?
All the senior partners at my boutique development shop are worth north of $20MM, I've seen the personal financial statements. But only a couple million of that is liquid in retirement accounts, homes, etc. A lot still tied up in real estate investments.
Development guys are typically worth a ton because they will have both an ownership share in projects and depending on structure either carry, a share of fees, or both.
Frankly, I assume you're asking this because you're debating which way to go - ignore comp, both sides make a ton of money. Think about what you want to be doing. REPE is more similar to traditional finance, you're more focused on the investment analysis and transaction process, and finding the next deal. Development is much slower paced and the finance side is a lot less emphasized (obviously still important) - your ability to manage a massive project and different personalities/egos is way more important.
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