How are REPE hours?
I know that traditional PE averages 60+, but what about REPE? Is it the same amount of hours on average?
Real estate Private equity work hours
The average work week in private equity is about 60 hours a week. If it’s on the acquisition side of things then it depends on deal flow. During dealtimes the hours can go up to 80 per week. However usually it’s a just a couple night until 8 or 9 per week and the occasional weekend
Here are the average hours worked at some of the largest real estate private equity firms. Information provided courtesy of the Starwood Capital Group: 67 hours
Assuming the job is in a major market, I'll echo what has already been said: 60 hour weeks made up through 12 hour weekdays and minimal time answering emails on weekends. During deal time, it usually swings up to 80-100 hrs depending on what stage of the deal process you're in.
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My shop has Analysts/Associates work ~60 hours (no weekends). During deal time that turns into 80+, depending on the timeline.
Same for My Shop. Weekends will factor in during diligence/crunch time.
It's going to vary so much week to week and shop to shop that it's hard to give you a real answer.
It's all about deal flow if you are on the acquisitions side of things. Sometimes when there are lots of live deals you will be slammed and staying late (60+ hours/week), but if you only have 1 or 2 deals moving at a time hours can be extremely reasonable (45+ hours/week). Of course this will vary widely from firm to firm as well. MF's will have longer hours than family offices. Like everything else in RE it will not be very standardized.
TL;DR: PM puts in 50-60 hours at my shop, 2 analysts put in 70-80 hours.
We are a growth shop and we have a certain allocation to REPE type of deals. The PM working on those deals puts in way too much hours thus, his two analysts also put in a lot of hours. The PM is on the road 2-3 days a week. While on the road, he puts in at least 10-12 hours of meeting, driving/going around, dining etc. When he is in the office, he is in at 6, works till 3:30, picks up kids, goes home for dinner, then he works another 2-3 hours. He constantly works on the weekend, my guess is another 5-10 hours. The two analysts working for him come in at 7:30, leave at 4-5, and work another 3-4 hours from home. I am sure they also work 10-15 hours on the weekend.
The reason they work way more than the rest of the team is because their deal flows are insane. They run approximately $1.5B of opportunistic equity across the country and the size of each investment is just sub $50M so a lot of deals to do.
Hold up. $1.5bn in opp equity handled by three people? Does this exclude asset managers? How many deals is this spread across?
This doesn't sound right to me...
Yes just acquisition guys. Having said that, our internal managers do not really spend a lot of time on these deals. They mostly just oversee because we prefer using local experts who are willing to put in 3-5% of the deal, or our partners provide Asset Management and we just monitor the process, or we hire a team when we acquire a REIT/REOC. We have 2 development guys on the asset management team spend most of their time on opportunistic developments though. Can't remember off the top of my head but I believe they currently have $300M in 7 development deals and just shy of $1B in ~ 12 deals in income producing properties.
Well, looks like no high finance for me.
Why?
You lazy sack of shit. Do you go to UTD?
short answer in acquisitions is it depends on how lean your team is and dealflow. we have a team of 3 on acquisitions seeing everything that comes in from throughout the country and we typically work 7:45 to 6; 2 of the 3 usually work until 8 or 9.
Hours for an Analyst REPE? (Originally Posted: 08/04/2016)
Hi guys, I'll be off to REPE soon - wonder what the hours for an acquisition analyst are like at some top 50 REPE firms. Currently I'm at a small PE firm and the hours are decent/satisfying - I guess the top 50 have around 60-80 hours (varying according to deal-stages)?
Depends on deal flow - typically 60
Noted - thank you very much!
I don't think there are set hours for top 50 repe shops man. For example, Starwood will vary greatly from PREI
Okay, thanks!
From my research it most likely looks like 60 hours standard but if you're in a deal/crunch time, it will go up to 80-90 hours.
thanks for sharing!
Assuming the job is in a major market, I'll echo what has already been said: 60 hour weeks made up through 12 hour weekdays and minimal time answering emails on weekends. During deal time, it usually swings up to 80-100 hrs depending on what stage of the deal process you're in.
This is not applicable to all "top 50" funds, but I'd say a good amount of them.
What is the salary for a REPE analyst?
NDA ;) Glassdoor is pretty accurate though...
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I work 40-55. 55 is max
GS REPIA POV here - guys get absolutely smashed. As in makes M&A look like pussies.
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