Development Associate - Am I Underpaid?
Having a difficult time finding data points for smaller shop development comp, no shortage of AM and acq data/top dev shop comp. I've spent 4 yrs at a smaller regional developer in the Northeast doing a bit of everything. Lean team but developing and managing around 5M sf of real estate. Base is $70k with no defined bonus range, although last year it was 30%. 1 yr of prior RE experience.
For 5 years experience in virtually any deal side role in RE you’re underpaid.
I mean, at 5 yrs total exp, 4 in development, I’d think anyone would be over $100k in base alone or close to it, with total comp above $150k (or at the potential for such in a “good” year). You say “northeast”, do you mean something not NYC/Boston? Those two cities you are majorly underpaid, can’t speak for Philly, CT, RI, or anything else, but still seems underpaid personally.
If you are actually on the development team, you are pretty underpaid for 4 years of development experience. Assuming decent deal volume 1-2 deals per year, I would have guessed 150k+ range all in.
Thanks for the insight everyone, really appreciate it. Confirmed my initial thoughts, now to determine the best course of action.
Thanks again.
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