Director / SVP - YE Comp
Have my YE review coming up - coming up on 13 YOE working for a REPE with an AUM over $6B. Currently around $500k all in cash comp. Curious if anyone willing to share comp as I was going to ask for $600k - $650k but haven’t seen a ton of data points at that level. Would consider myself a high performer and am the deal lead for several markets.
Also have been reached out to for roles in this new comp range but it is rare.
What is your role and what are your responsibilities?
I run a region as the lead deal person. Responsibilities include UW assets, presenting to IC, managing relationships with brokers, handling debt procurement, lead buyer interview calls, QB the DD process, and run PSA negoations. I’ve put out roughly putting out roughly $150m of equity per year.
Your cash comp seems already on high end of market for taking no equity risk of your own cash / guarantee.
Haters will throw monkey shit
When you get to above the associate level the compensation has a very wide range and there are less jobs out there especially at companies you’d actually want to work for. I would say I have a good comp structure but again my point is if anyone else has data points in the $600k - $650k range. Probably far and few between but I’m sure there are for high performers at larger funds.
I would be curious how you came to your conclusion?
I agree with hobbits. Based on the responsibilities you’ve outlined, it seems you're already hitting a pay ceiling and are in the top percentile for cash compensation. However, I could see three strong arguments you could use to justify asking for more money:
You are a big culture guy and have successfully developed strong analyst/associates under you.
You have a strong operational background and help drive the property performance during the hold and don't just move on post close.
You have a strong network of equity relationships.
i think the move is to ask for more % of the deal in some form or another
Rhodes Associates comp survey and data points I have would say this is the lower end brother…
That comp survey is total bullshit lol
250 base, 250 bonus, 250 in carry. 750 total. 600-700 cash is a stretch.. Are you already getting carry?
While I’m not at your level yet - your cash comp feels right. When I was at a life co, region leads in your seat made 500kish in cash. The rest came in LTIP getting them to 600-650ish all in. The only people making more were executive management or if you lead a team (ie.: head of acquisitions managing all regional leads). They made $600 cash and prob 800 all in. The only people making 7 figures were execs who ran the division.
What is your long term comp?
Yeah I do think LifeCo pay less than private equity funds and I am getting 2% in the various funds with latest fund over $1b prob worth a few million dollars.
Will let you know how it goes.
That’s great. Recruiters have always told me long term incentives should equal your cash come paid over 5 years. So if you make $500K cash annually, your long term incentive will be $2.5M over 5 years.
Brother just ask the question. There’s no real “market rate” for what you’re doing. You either get what you’re looking for where you are or you try to find it elsewhere.
Just heard back after my YE review approved at $650k this year with bump to $700k next year.
How did you frame and approach the topic?
Can you talk about title/responsibilities/and fund type
SVP / Director - I run a region that is 1/2 the US - Closed End VA Fund - over $1B
I just asked and provided market comps. Would describe myself as a top performer.
Nothing much to contribute, but wanted to say congrats that's awesome!
How does that work "asking for 600-650" when I assume most of that is bonus and variable dependent on business? I'm at 12 YOE in my role(s) and comp this year was lower at 550K but has been has high at 900K in recent years. What leveler are you seeking to pull? higher base? higher bonus %/shares?
I work at a discretionary VA fund where fees are more durable / steady. Comp has always been roughly 50% salary / 50% bonus and my $600k - 650k is my cash comp not including promote. Both my base and bonus moved up.
Very nice base :) but I guess if its bad enough to get wiped out to just base you have other things to worry about.
Do you mind sharing type of firm / education background / market you’re in? For the younger monkeys hoping to be in your shoes later in their career.
How does comp differ for a large institutional operator that capitalizes by deal and doesn’t have a fully discretionary fund?
Tough for me to say as I have only worked for a fund but I think the main difference would be if you don't do any deals your bonus could be highly affected whereas the fund model has a steady stream of fees. For example over the past 2 years I know people who quoted potentially getting 100% bonuses for a operator who needed to raise equity on a deal by deal basis that ended up with 0% bonus as they weren't doing any deals as LP equity was on the sideline.
As someone who is both at your level and has been actively in the job market, your cash comp is slightly above norm for a director / VP but slightly low for a Sr Director / SVP. Your duties fit the latter provided you also directly manage a team. That said, 2% of the promote is pretty solid on a fund that size - so while cash is king, your TC is likely at or above market.
In talking to several top recruiters as both a potential client and candidate, typical comp is 1/3 base, 1/3 bonus, and 1/3 amortized promote at our level. Generally have heard of VP/Director level ranging from $450-$650k TC and then $650-$850k TC for SVP / Sr Director depending on fund size. Big ranges to be sure, but if you’re at a name brand firm and putting out that much in equity (presume that bought $450mm in deals?) you’ll be in the upper half for sure. NYC likely pays slightly higher cash across the board, and of course in a good year promote could push you past range above.
I always think of SVP / Sr Director as “all in, average year aiming for +/- $750k TC but need a great year to be close to $1mm all in and if the fund(s) really hit on liquidation, my average annual TC nears or hits $1mm”. With 2% of the promote in a $1b fund they might already be giving you that. Once you hit average expected TC of $1mm-ish you’re talking an MD level.
Iusto animi et nulla eos cumque cumque saepe est. Quaerat est soluta quasi nihil repudiandae officiis et. Earum minus sed molestias.
Minus quasi vel saepe explicabo. Aliquam et facere architecto cum ad consequatur.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Qui vitae provident non est. Et a et nam suscipit officiis ut. Inventore id mollitia sed omnis. Officiis voluptatibus voluptate et quos possimus.