I have a good friend checking out Related in NY on the corporate side (not real estate, think accounting/HR/marketing) but as a real estate company, I felt compelled to reach out to this group for opinions. It'd be a mid-level/senior position but don't know too much about them other than their RE projects. Vague request for sure but any feedback on culture, WLB, comp, etc is appreciated.
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NYCRE_18, have you checked out these or run a search:
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I hope those threads give you a bit more insight.
I'm an undergrad currently applying to roles in NYC, so I don't have any firsthand knowledge, but I have heard some things from people who work/worked at Related. One of the things I've been told is that it's typical for employees to be overworked and underpaid. Keep in mind I heard this from analysts who worked within RE, not within HR/marketing, so I am not sure how useful that info is to the role you're applying for.
I hope this helped.
Anything helps, haven't gotten much feedback but doesn't seem to be different from what I'm expecting
I interviewed there a few years back for the development team and unfortunately it was the worst professional experience of my career. Really, really toxic vibes from those guys and I could not wait to get out of that office. As a Michigan grad it was the job I dreamt of getting when I was coming out of college (I had a few years development experience when I interviewed there), so to have my image of the firm shattered like that really kind of left me awestruck. I wish I could say better things.
How long ago with this? Any different from fund or affordable side compared to dev or all across the board?
This was 3 years or so ago. I exclusively met with the development team and the head of talent acquisition, so can’t speak to other departments whatsoever. However, most of the people I met were senior level folks (e.g. VPs and one guy who I know is now in a c-suite position), so my takeaway was that it was a fair representation of the culture that permeates from the top.
Don’t know anything about the culture but I would assume it’s typical NYC long hour grinds.
I know many who have worked at similar firms and pay is typically not great at the large NYC owner/operator/developers (Related, SLG, Vornado, RXR).
SLG actually pays really well.
Can you throw out some numbers? Just for my edification.
Friend who interviewed there for RE said it was a toxic boys club.
Can confirm it seemed very toxic. I interviewed a while back but I remember senior associate pay to be 200-250k all in. Which was in line with top traditional PE firms at the time. Hours were horrific. I was told the VPs and above go and do all sourcing while the senior associate runs the transaction start to finish to give the originators more time to find deals. Structure may have changed as they have let a ton of people go or not replaced as they’ve left.
What I’ve never understood about their model was they seemed to have a large investment team - about 20 people - but only covered NYC. It seemed bloating but they did debt / equity and I’m sure saw every deal in the market. I’ve had friends work there over the years and life seemed soul crushing from an hours perspective.
Lots of comments match what I've heard from a recent conversation I had but all were investment/development related and not corporate; likely not many on WSO but wonder if its less likely to get a dressing down on that side
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