Hey guys, long time listener first time caller here.
I've just been offered a new job at a small but successful development shop and they've asked me to send them over what I expect in terms of comp. I'm looking for some general info on what would be considered a fair package. I'll be involved with all aspects of acquisitions and development including leading individual projects - I'd be roughly considered a development manager. I'm post MBA with experience in both development and investment sales. I was told I'll receive both base comp/bonus and a percentage of the promote on each deal I'm involved with.
I'm super excited about it and will be taking the job no matter what but I'd love some input around what to ask for. Thanks for the help!
what is the profile of their annual development pipeline (size/units/SF generally) and what market are you in? Very generally speaking without that info, I would say development manager market is around $135,000-150,000, 20% bonus, carry varies widely by shop, but perhaps 1-2% of promote cash flow.