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Was quoted 145-155k + 30% bonus for development associate in NYC. No carry until Director.
Do you mind sharing How many yoe you had when you were quoted this figure ?
4-5 years.
Same role. Was quoted 140k plus 30% bonus. No carry. You get carry one level above associate.
HR said to me that you don’t come to Hines for the pay. But if you stay, you get huge compensation in the promote down the line. I don’t know how HR was defining huge, but my friends who work there are compensated well.
When I worked there here was my comp:
Year 1-2: Analyst 65k +20% bonus
Year 3: sr. Analyst 90k +30% bonus
year 4-5: Associate 120k +30% bonus
year 6: Associate 145k +30% bonus
now I keep in mind I started there over around a decade ago. I am sure they have changed a bit.
Do they typically only hire/promote to associate level after 3 years? What market were you in if you don’t mind me asking?
Thanks for being transparent on this.
Do you mind sharing how your responsibilities changed over time?
I’m at a small development shop (6 total people; $450mm multi/BTR under construction) and can wear multiple hats. My main focus right now is underwriting new deals, handling DD of new deals (reviewing environmental, geotechnical, etc.), submitting LOI’s and handling PSA execution, putting together decks for debt and equity, attending OAC’s and putting together investor updates. I’m just now starting to get involved in the rezoning process.
We have a construction guy who handles most of the permitting and design coordination (civil & architecture) process. Is that how Hines was broken up from the finance and construction teams? Did the finance guys ever get involved with securing permits and redlining architecture and civil drawings?
90 4 analyst role
Base or including bonus? If not including bonus, do you know bonus percentage ?
Not including bonus, which is pegged @ 30%.
If this is 4 the NYC office, don't waste ur time, it's a terrible place to commit to (unless for a fund management role). You will spend all your time liaising with engineers or doing zoning research. Little to no analytical work. Like I said, nyc office is great, but only if ur doing fund management.
Hines, or most of it, has significantly changed their incentive structure in the last two years. So take anything in here with a grain of salt as it is likely stale. Big picture, they're moving towards higher base salaries and bonuses with less carried interest opportunities, for better or worse. Just wanted to add that to the conversation.
Can you elaborate on this a bit more? What would a typical Associate or Director comp be now compared to previously?
Just heard from a director who is now at 200k base and 40% target bonus.
years ago was around $160k and 30% bonus
I've posted about this previously on other threads, so forgive me if I'm not keen to regurgitate most of the details.
Big picture, Hines has historically been a decentralized organization and thus roles, incentives, and opportunities varied widely depending on your team and leadership of said team. One team may reserve equity for Associates and above while another team may only allocate equity to Managing Directors and above.
For various reasons, Hines is moving towards a more centralized organizational structure. While the decentralized organizational structure has served the partnership well historically, the executive leadership is moving towards a more institutional focused firm. Thus, the compensation structure is changing and becoming more uniform and in line with general industry norms and across the organization itself.
I can't comment to specific numbers. I expect base plus incentive compensation has increased across the organization, but equity opportunities have meaningfully decreased. That's about all I can share with confidence.
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