We all know that one major caveat of working for a brokerage (or RE in general) is that it takes time to make real money. It takes many people quite a while to build of their repertoire and client base/connections, at which point they start getting in on bigger deals. However, when people say you "wont make any real money starting out," exactly how much money ARE first-year analysts making?
As a current MSRE student, I am personally gunning for a financial analyst position in the Capital Markets Group of a big firm (think CBRE, HFF, etc). However, I can't seem to find any real info on exactly what the pay structure is like for a new analyst (besides stuff like Glassdoor). Is it usually a salary (at least until you build up your network)? Or are you making only commission straight out the gate? People do have bills to pay. I understand it may vary from firm to firm, but I hope some of you guys with real world experience can shed some light on this for me as I plan my post-graduate life. Thanks in advance!
Direct Deposit.
In the United states... USD.
Usually money, sometimes through BJs.... you provide.
I work for one of the above firms and I think you might have the positions a little mixed up. If you are a true financial analyst then you will likely be paid salary+bonus. The only people that are paid on commission are brokers and they usually get a draw and that will be paid back once they start earning commissions. However, if you are shooting for an analyst position then you will be an employee (possibly attached to a specific group) and your bonus may be corelated to how that group does. Brokers are 1099 independant contractors and are completely different than any type of analyst or asset managers within the company,
Thanks, I appreciate the non-smartass responses here -__- so would you say 50-60k is an average range? What would you say about the range in South Florida in particular (I'm sure salaries in places like NY are higher)?
for an analyst, CBRE or HFF would not pay you commission-only. Base salary really depends on the firm and market. You'll occasionally see threads on here where some kid is (rightfully) disappointed that some firm is only offering him $35k base starting out. I'd say 50s or 60s base is typical. Also, I woudl check into whether you get a premium for having an MSRE. Masters degree + experience should change things.
I definitely am not positive what the comp would be like in South Florida. I am in the DC/Boston/Philly type market and I would say that 60k with a 10% bonus is more realistic for starting pay, at least for up here. I am in the asset management division which is not cap markets but most starting pay is pretty consistent throughout for non brokers. The big money in these firms are made at the brokerage level and even with that said >50% are really making big bucks, i.e 150k+. Brokerage commissions are huge, however once the house takes a cut and everyone on the team is paid their share then the comp is a little more pedestrian. Not saying it isn't a very profitable line of work for a hustler.
I know two people that work for HFF, first year analyst is 40K..... Avison Young capital market group for first year analyst is 35K
I'm not sure why others are giving such high numbers
BUMP for any more info on entry-level financial analyst pay, particularly in the southeast?
What city do your friends at HFF & such work in? I assume not NYC / San Fran / LA. Prospie is completely accurate in the fact that compensation is directly correlated to the cost of living & as well the firm itself. It is also related the type of firm. Originally this was a discussion regarding brokerage "analysts" (not the junior brokers working on a draw, not analysts at a RE investment firm).
For primary markets such as NY, LA, & SanFran, I would say 50-60k + bonus would be average. Chicago would be a little less, and then tertiary markets would be significantly less, where the 40k + / - range falls into play.
In Houston...
PM me - fellow graduate and in the industry.
For entry level, id say ~$60k base with 20%-30% bonus.
So many contradictions on this thread. I'm not sure why you'd want to be a financial analyst at a CRE considering the pay is 75% of what you'd get being an analyst at a F500. There's just no upside unless you want to break into being a broker.
Really? No upside to working in commercial real estate? good one...
As a financial analyst? I wasn't aware that analysts were paid anything more than base + 10ish % bonus. Low base at that. I don't see a lot of upside there.
I think there's too many people throwing around the title "analyst" for real estate positions. Theres a huge difference in an analst at a brokerage and an analyst at a fund or developer and are not really comparable in pay or day to day jobs.
Also CorpFinanceGuy, bonuses for CRE analyst (brokerage and funds) are considerably higher than 10%.
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