Title say it all. Have been working in development for almost 7 years and 2 years in affordable housing development. Although I love development but I’m thinking about broadening my knowledge by going into LIHTC syndication. Can any LIHTC folks out there give me a sense long term comp in development vs syndication (with thought I would go into originations). It’s seems if you are at one of the big syndication groups (PNC, AIG, National Equity Fund) that there careers long term seems to be more lucrative. Can anyone confirm. Thanks
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You can probably look up the salaries of the Directors and Vice Presidents at Non-profit syndicator on their annual tax returns.
You're right looked up National Equity Fund and senior originators are making 450K plus as a base salary. This is was substantial experience, probably 15 years plus. From what I know of affordable development being fee based and deal taking forever to come into fruition, I doubt senior affordable developer consistently make this even all in at senior levels unless you're doing your own deal. Can anyone confirm? Do market rate developers even make this much working at some of the bigger development firms?
What was the bonus? And what exactly do LIHTC syndicators do?
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