Looking at opportunities in the RE. Was approached by a larger REPE shop that would pay all in around 250-255k (high base). Is this in line for someone that has two years of real estate experience (corp development)? This is for a high COL city (NYC, LA, etc.) and would probably be 55-60 hours in a normal week
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That's higher than the vast majority of funds but lower than the highest paying places like Brookfield, Blackstone, Davidson Kempner, etc. Especially with the high base. I made that amount last year as a REPE associate but base was basically in line with IB analyst base
This is helpful. I think the base is 150K+. I assume for 60 hr weeks this is not terrible vs like BX and Brookfield where normal week is 70-80 hrs?
How do you know hours at this job are 60 per week and how do you know Blackstone / Brookfield hours are 70-80?
60 hours based on conversations ive head across different teams and know folks in BX acquisitions who constantly put up crazy hours
It's just weird that people give out a weekly total hours figure as if it's something they keep track of in an excel file. If you interviewed at my company and asked me how many hours I work, I would have no idea. Some days I leave at 4, some days I leave at 8, some weeks i work 8 hours on the weekend. Idk how you come up with "BX people work on average 10 hrs more per week than people at Company x." Especially when every individual has different hours based on wildly fluctuating deal flow.
What's far more important than average hours worked per week is how people are treated and what the culture is like. I work a lot but I also have the flexibility to play intramural sports after work, work remotely a couple days per week, clear my calendar during vacation (for the most part), work remotely from different locations if it makes my vacation schedule more convenient, etc. And my weekends don't get blown up by low probability deals that aren't going to close. Basically just being treated like an adult.
Try to figure out these things rather than using shoddy assumptions to estimate average hours per week.
And yeah like I already said, the pay is fine. If you pass on the opportunity it will be because of something other than pay
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This is very good comp for someone with 2-3 years experience.
Would say this is definitely at or above market given your experience. Shocked that they would pay you that high of a base, usually they lower base and pay out a higher bonus and/or carry or co invest
What title is this for? Agree with others that this seems like a high base salary, but to me seems appropriate for NYC cost of living. What is projected bonus & any additional compensation?
REPE Associate - no carry
But bonus as well correct? what %? Regardless this seems like great comp, especially for your experience level.
Don’t want you to give away too much info but you mind revealing fund size in dollars (ex: $10B AUM)? Only asking because I should have a strong profile to transition into REPE within 6-12 months so getting ballpark numbers on comp would be great.
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