Given the hot job market and base salary increases for investment bankers, I was wondering if anybody is witnessing salary increases within the CRE industry? Has anybody tried negotiating their currently salaries and/or looking to change jobs because of the market?
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Been wondering the same thing. RE pay at the analyst and associated level (Excluding the big PE type shops that pull from IB) seems to be stuck in 2017.
based on the numbers i see on wso might be more like 2007
What numbers are you looking at? Entry level RE roles are in the high five figures all in. Wall street well into the six figures entry level.
I wouldn't compare pay between banking and CRE. Many CRE asset classes have been underperforming since COVID. Also this has created some larger firms from my knowledge to outsource certain tasks/responsibilities to India to cut costs. So unfortunately I don't think salary increases could be expected to increase at the larger firms. The smaller shops obviously are more independent so not tied to as many factors as a national or global firm.
BB lending groups got base pay bump
Do you know how much of a bump it is and which banks. I've heard some rumors that WF might be increasing base pay by 15k as well but can't confirm.
So much good talent lost their jobs last year that I can’t imagine most sectors of the CRE world would see comp bumps.
I switched firms in March and my YoY comp will be 30% higher as a result, but I got promoted before leaving my old role and my comp jumped 20%. On the principal side, I imagine AM fees were down for most in 2020 so I would have to imagine jumping firms is your best chance at increasing comp.
I leveraged an offer into a $40k base increase this year. Go out and get your raise yourself
Congrats, that's great. What area of real estate is the firm, and what is your role?
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