Why would you be concerned that their pay is competitive with IB? They pay well. The interview process is pretty intense, and they are very selective. People I know there were approached as well, not randomly applying. Even with connections had a pretty long interview process, but said comp was great.
Probably has to do with what silo you are in, a smaller shop in sense of employees directly connected to PnL, with a decent amount of volume. What i gathered both my former colleagues/friends got solid offers but had to prove themselves in the interview.
Market's bad I don't see what it matters if someone is looking to hop and a place offers a pay increase, interview and feel them out. If you aren't looking to hop, end-of-year talks are coming; get an offer and make your place match. Like, what's the hold up? They are an established firm with tons of information on Google and Bloomberg Terminal about them.
So if you do interview, I'd strongly suggest looking into how they make money; it's not just from being a traditional REIT. They buy and invest in actual MBS and CMBS as well as REPO, so they have an aspect of a Wall Street desk as well. So on the street I know plenty that make like 180-250K as an associate, but the bonus once they get into the PnL, could be 300-700K on CMBS desks.
These are not regular REITs...so the pay makes sense. They are not generating equity returns and paying a 3-4% dividend...they are levered to hell and take rate/basis bets on Agency MBS/CMBS, this is a trading role not a CRE role. Source i work in trading at a Mreit...
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Why would you be concerned that their pay is competitive with IB? They pay well. The interview process is pretty intense, and they are very selective. People I know there were approached as well, not randomly applying. Even with connections had a pretty long interview process, but said comp was great.
Is the bonus actually 100% of base? Seems ridiculous for a REIT to pay that much.
Usually REITs don’t pay that well compared to REPEs but the WLB is good.
Probably has to do with what silo you are in, a smaller shop in sense of employees directly connected to PnL, with a decent amount of volume. What i gathered both my former colleagues/friends got solid offers but had to prove themselves in the interview.
Market's bad I don't see what it matters if someone is looking to hop and a place offers a pay increase, interview and feel them out. If you aren't looking to hop, end-of-year talks are coming; get an offer and make your place match. Like, what's the hold up? They are an established firm with tons of information on Google and Bloomberg Terminal about them.
I have no doubts they are legit. I have doubts the bonus is actually 100%. How many REITs structure comp like that? Just them?
So if you do interview, I'd strongly suggest looking into how they make money; it's not just from being a traditional REIT. They buy and invest in actual MBS and CMBS as well as REPO, so they have an aspect of a Wall Street desk as well. So on the street I know plenty that make like 180-250K as an associate, but the bonus once they get into the PnL, could be 300-700K on CMBS desks.
These are not regular REITs...so the pay makes sense. They are not generating equity returns and paying a 3-4% dividend...they are levered to hell and take rate/basis bets on Agency MBS/CMBS, this is a trading role not a CRE role. Source i work in trading at a Mreit...
How much do Corp finance types make at these mreits?
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