Development comp per level

Curious to know what total comp looks like in a HCOL city in the US. Looking at the post-MBA/post-MSRED level onwards. So Associate, VP, Director levels at some of the "top" shops: Hines/TCC/Related/etc.

Is there a difference in pay (at the Associate level or above) when it comes to MBA vs MSRED?

Thanks!

Comments (48)

  • Associate 1 in RE - Comm
2mo 

I'm on the west coast at a mid-sized industrial developer, and we hired an associate post mba grad that had some experience in brokerage prior, this was a few months back. He was comped 130k with a 30% target bonus.  

  • 1
  • Developer in RE - Comm
2mo 

Spoke with a merchant builder on the west coast. Here's what they laid out:

Associate: $130k to $150k+, 10% to 20% bonus

VP: $190k to $210k+, 15% to 25% bonus

MD: not sure about salary or bonus. This is when promote/equity participation begins

  • Associate 1 in RE - Other
2mo 

Entry points at my firm:

Undergrad: Analyst

Masters/pre-MBA experienced hire: Associate

Post-MBA/more experienced hire: Senior Associate

Then it goes VP->SVP->Principal (start getting significant carry/promote here)->MD->Sr. MD

Above senior MD is executive level

I am an associate (experienced hire). First 12 months comp is ~120-125k (includes signing, EOY bonus amount for 2022 was in offer letter). No clue past that but I think senior associates can get close to 300k in a good year

2mo 
remonkey95, what's your opinion? Comment below:

Thanks for this! Any idea what Sr. Associate comp is like in a typical year?

Learn More

300+ video lessons across 6 modeling courses taught by elite practitioners at the top investment banks and private equity funds -- Excel Modeling -- Financial Statement Modeling -- M&A Modeling -- LBO Modeling -- DCF and Valuation Modeling -- ALL INCLUDED + 2 Huge Bonuses.

Learn more
  • Works at Greystar Real Estate Partners
2mo 

I'm a development Senior Associate at Greystar, my post-MBA salary is $160k with 30% bonus. I'm expecting ~3% COL bumps til I hit Director, the next level up. At that point you get the option for either carry or cash bonuses at various milestones, and this is project-by-project, so my understanding is you can mix and match if you want. I'd assume base is $200k+ at that level, bonus is probably between 30-50%. 

2mo 
remonkey95, what's your opinion? Comment below:

Sweet. How many years of development experience did you have at the time? Was this a post-MBA role?

  • Developer in RE - Comm
1mo 

Yes looks shitty sounds shitty is shitty. But alas this is real estate and very few compared to other industries make good money.

  • Developer in RE - Comm
1mo 

How many YOE in Development do you have?

1mo 
remonkey95, what's your opinion? Comment below:

Could you share your background? MBA/MSRE and your experience before that?

Most Helpful
  • Associate 1 in RE - Other
1mo 

What is comp like at TCC for Senior Associate (i.e. post MBA) and VP levels?  Have read/heard they pay the most out of the megadevs, but curious what numbers that actually translates to.

For post-mba: The only real number on target base + bonus I have seen is ~145k way back in 07/08, and then some glassdoor figures for ~175k from 5-6 years ago (less sure on the truth of those numbers).  Not sure how that translates to today (hair over 200k inflation adjusted, plus whatever the profit sharing amounts to, if anything)

For VP: Glassdoor and one or two other sources point to a 300-400k range back in the 2010s, but also taking that with a grain of salt.  A post from earlier this year said senior associates can top out near 300k, so have to assume VP's can get well above that in a good year

  • Associate 1 in RE - Other
1mo 

Iure sit facere asperiores sed. Illo consequatur ab non exercitationem et fugiat. Ut autem expedita fuga ut. Voluptatem nisi atque aut et.

Voluptate aut in blanditiis aspernatur animi nesciunt alias. Doloribus numquam eaque iusto reiciendis quia molestiae ea eum.

Quos velit nemo sequi nesciunt delectus reiciendis delectus ut. Eveniet expedita delectus ea commodi dolores. Voluptas quis nihil ex. Incidunt qui est amet unde nisi. Nulla ab ut a unde veritatis. Soluta et est enim voluptatum dolorem et.

1mo 
patrick_bateman_, what's your opinion? Comment below:

Ut dolorem tenetur non quidem dolores dolores ab. Adipisci impedit quia natus non. Temporibus cum corrupti molestias sunt vero et. Assumenda error ut neque iusto vel et.

Voluptates earum qui laborum tempore. Distinctio et sit nihil non suscipit. Tempora sed consequatur in culpa earum mollitia.

Ad ea quia eligendi vero iure quidem natus. Porro debitis natus nihil. Nisi ipsam id eaque earum mollitia quidem ab. Reprehenderit voluptatem et et vitae consequatur et quod.

Assumenda voluptatum eaque consequatur quasi. Quia porro voluptates nisi nostrum nihil.

Start Discussion

Popular Content See all

Solar Thread
+31REby mIRRacle
Smartest RE Debt Funds
+29REby Associate 2 in PE - LBOs
Examples of “REPE” deals
+25REby Investment Analyst in RE - Comm
Analyst Training
+17REby Associate 1 in RE - Comm
RE Acquisitions vs REPE: hrs
+16REby Associate 1 in RE - Comm
2023 Base Thread
+14REby Urban Mogul

Career Advancement Opportunities

February 2023 Investment Banking

  • Lazard Freres (+ +) 99.5%
  • Jefferies & Company (▽01) 99.1%
  • Lincoln International (▽01) 98.6%
  • Financial Technology Partners (▽01) 98.1%
  • William Blair (▲08) 97.7%

Overall Employee Satisfaction

February 2023 Investment Banking

  • Canaccord Genuity (▲04) 99.5%
  • William Blair (▲04) 99.0%
  • Lincoln International (▲09) 98.6%
  • Jefferies & Company (▲06) 98.1%
  • Financial Technology Partners (▲09) 97.6%

Professional Growth Opportunities

February 2023 Investment Banking

  • Lazard Freres (▲15) 99.5%
  • Financial Technology Partners (▲09) 99.1%
  • Lincoln International (= =) 98.6%
  • Jefferies & Company (▽03) 98.1%
  • William Blair (▲01) 97.7%

Total Avg Compensation

February 2023 Investment Banking

  • Director/MD (6) $592
  • Vice President (24) $418
  • Associates (137) $262
  • 3rd+ Year Analyst (9) $194
  • 2nd Year Analyst (80) $172
  • 1st Year Analyst (258) $171
  • Intern/Summer Associate (42) $166
  • Intern/Summer Analyst (185) $91