How are 2022 bonuses / 2023 pay figures looking?
Curious how you all think 2022 bonuses and 2023 comp shakes out. I’ll be getting a bonus in the next month and a half. Hoping that I get my target %.
Seems like a tough time for pay increases but also seems like it is needed with inflation. Thoughts from REPE crew?
base is 120k, bonus is supposed to be around 80% so around 96k. according to older analysts and associates in my group it will most likely end up being around 30k - 50k which is a huge bummer.
Damn that is a bummer. See post from VP below…are you getting cash comp from fees or from deals that you get done?
How many years experience you have ?
2 years
Are you in banking?
yeah in a renewable energy group
It depends if you firm's cash comp comes from management fees from a fund structure, or if your firm syndicates and relies on transaction volume to pay cash comp.
If the former, unless you are in the middle of fundraising, theoretically your cash comp including bonus shouldn't change.
If the latter, and you did not have many capital events this year, you may be squeezed.
It’s pretty much all from fees, which are up this year despite the macro backdrop. Hoping that you are correct.
When I was in PE, younger people typically got paid full bonus even in lean years b/c it's just not that much money. The older you get, even if a firm's cash flow comes from fees, in a downturn they will absolutely hit bonuses.
Any insights from agency lenders? How is it looking?
Low this quarter for sure. Outlook is low for the next 6-12 months as well
agreed on the outlook on the next 6 months, nobody is doing a cash out refi lol but I am optimistic about the bonus for this year as we met our budget and did well before rates shot up.
I'm personally expecting a pretty lean 2023 pay wise. I'm in development. Working on one large fee development that if it happens it will hopefully get me through whatever this downturn will end up being.
Curious to hear what compensation looks like when broken down at a development firm
Base plus 20-30 % bonus usually.
My company boosted base pay for analysts and associates starting in September by 15%.
Is this at a BB or REIT/Debt Fund?
repe/core funds/developer
following
I work on p and l numbers for my fund and unless there are some major upsets in q4, total comp should be up 5-7% on average.
Always appreciate your debt fund insight brother. Nice to have experienced members on the RE forum
Anyways, I agree - think equity only guys may end up being more conservative with comp but debt funds seem to be in a good spot. Provided you don’t have a bunch of 1980s office or retail loans
I just want to have a job next year, man
One of the reasons I like AM, especially on the debt side.
Business is booming, I have more and more deals to AM.
Recession: workouts/mods + I still have to manage a portfolio
My team is small (I'm a 1 man crew), but I'm always necessary.
Any prep material that you recommend for AM? debt side for lending seems fairly limited. Would love to learn more about the AM side
My target bonus is 10% lol. Base is $55K USD / $75K CAD.
Haven't received any inflation bumps...
REPE.
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