-Straight out of undergrad from west coast semi-target well-known for Real Estate -Privately held, small-mid sized real estate private equity shop **looking for what to expect in terms of salary plus bonus. Received an offer of 60k plus bonus. Is this in line with what is normal?
Any input would be appreciated. Thanks.
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50-80 is probably around average for starting. The 80 is for the Google, Amazon, Facebook, etc. of the world.
What was the bonus guidance? Employers almost always give guidance on what % of salary you can expect, or at least a range.
Define "small to mid sized" REPE shop. Generally, it's very hard to break into reputable REPE shops straight from undergrad.
Somewhere around 300 mm AUM full discretionary.
They did not give a range in the bonus, only that it is based on performance and character standing with the company.
You mentioned fully discretionary, which prompts me to ask for clarification on if the $300MM is referring a single fund raise, or if that's an aggregate amount across all of their funds/sep accounts.
In addition, I am assuming the $300MM amount is equity, and not total capitalization in deals - can you confirm?
That's the latest fund raise, including this one they've done around 4-7. 300mm is just the equity, 1bb total cap
That's a decent size fund. My guess is they will pay you ~20-25% of your salary as bonus bringing you to an an all-in comp of $72k - 75k.
If I were you, I'd push them on salary towards $65-70k. Requesting a small increase of $5-10k can't hurt and from my experience, most firms will give in.
This is in line for most shops on comp. 10-15k bonus is average.
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