Live Recruitment Comp Tracker - Offers
Given recruitment is hot right now (especially for juniors), I figured this would be a helpful chain to track offers (or even market bumps) for a wider breadth of data points (contrary to the compensation post that tracks accepted offers)...
Basic Template (feel free to post multiple times if you're the stud with options)...
*Omit as much as you want even if it's just posting comp.
Industry: AM/Acquisitions/Development/Brokerage/Debt Production/REIB/Etc.
Title: [Self Explanatory]
Market: [City or region, main office or branch]
Firm Size: [AUM, employees, global vs regional firm, strategy - core, value-add, opp fund]
Product/Asset Class: [Main food groups + alternatives]
Experience: [Years & any other relevant info like graduate degrees]
Comp: Base + Bonus + Any other incentives like carry + Any cool benefits worth mentioning
*If you want, include previous compensation to show (hopefully) a jump
**Whether you accepted or not. If no, reasoning if you want.
Industry: Acquisitions
Title: Analyst
Market: Midwest
Firm Size: 5bn+ AUM, Middle-Market Opp Fund
Product/Asset Class: Asset Class & Geography Agnostic
Experience: 1yr experience at MF
Comp: 85k Base + 30-50% Bonus + 5K Sign-on
Eh I had some pretty specific details but decided to exclude.
Basically first year associate roles for REPE, even at equivalent firms and similar cities, range from $150k-$225k all-in. There are also places that pay more than $225k but I did not get to interview at those
Shoot, I need to get my comp up. I'm hoping to get a bump to the $150K range in the Midwest after my first year as an associate.
Shoot, I need to get my comp up. I'm hoping to get a bump to the $150K range in the Midwest after my first year as an associate.
How many YOE are you referencing? I’m guessing 3-5 but titles in real estate range from firm to firm so it’s sometimes easier to compare comp based on experience.
This is for 2-4 years of experience
Industry: Acquisitions
Title: Associate
Market: Midwest (Suburban VLCOL)
Firm Size: $800M AUM, Middle-Market
Product/Asset Class: Office/Industrial - Domestically (USA)
Experience: 2yr experience within REPE + 2yr in banking
Comp: 75k Base + 50% Bonus + 1% Carry
Seems quite low base
Agreed, we are very small so they try to get to the lower band of market rate by basing most of my comp on incentives. Carry is equivalent to about $500K in 5-7 years so my all in is a bit higher, though not guaranteed. My comp is getting reevaluated next month, so we'll see what type of bump I get.
Role: Acquisitions
Title: VP
Market: US
Firm Size: $100M (Sponsor)
Product/Asset Class: Hotel + Resi
Experience: 6 years
Comp: 200k Base + 2.5% firm carry + 3% fund carry
Damn $200k base after 6 years exp AND carry. Good for you
How does firm carry differ to fund carry?
Firm carry - ownership in the dev company that collects all the fees (i.e. acq fees, dev fees, am fees, ts fees etc). All CF leftover after firm expenses gets distributed to partners.
Fund carry - ownership in the fund that all deal profit flows through
Industry: Development
Title: Assistant PM / Dev Associate
Market: East coast
Firm Size: $750MM pipeline (Sponsor)
Product/Asset Class: Multifamily, mixed-use, master planned communities
Experience: 2yr experience at debt/equity brokerage
Comp: 80k Base + 20-35% bonus (tbd)
Industry: AM
Title: VP
Market: West Coast
Firm Size: $15B AUM
Product/Asset Class: Multifamily, mixed-use, retail, SFR
Experience: 4 year AM experience 6 years PM experience
Comp: 230k Base + 70k bonus (300k total comp)
Is this for Asset Management? 4 years asset management experience, 6 years of portfolio management experience? That's a great comp package.
Industry: Debt/Equity Brokerage
Market: West Coast Metro
Product/Asset Class: Primarily multi but good variety with mixed use, office, and retail as well
Experience: 0 in RE, 1 in another industry
Comp: 75k Base + 30-40% Bonus depending on deal flow
Industry: Acquisitions & Development
Market: Nationwide
Product/Asset Class: Class A Industrial
Experience: 3 internships
Comp: 75k Base + 5k per deal sourced + bonus (not sure)
Firm Size: Institutional, few billion in deal flow per year
Industry: Development
Title: Analyst
Firm Size: $1B+ Pipeline
Asset Class: Multifamily
Experience: 3 Internships
Comp: $85k base + 20% bonus
Industry: Debt / Equity brokerage
Title: Analyst
Market: Major Texas MSA
Product Type: Multifamily, retail, office and industrial
Experience: 0 full time, 3 internships
Comp: $70k base + 20-50% bonus
Turned down an offer from month back. Im at a direct competitor, felt our platform was better and have better long term growth (and also love the team / manager so honestly was hard to jump ship). Also not great timing. Hopefully correct decision.
Vp, debt fund (role was at 50b+ PE group, at their re credit team). Originations/investments team
7 years exp at a bank and my current debt fund
200k and 100-125%+
NYC
id also add from my experience / talking to recruiters - associates should be aiming for $150-275k all in (larger range but nonetheless pending roles specifics) and senior associate/Veeps in the $325-450k+ ballpark and have a discussion on carry at that point. Honestly had recruiters calls for roles I wasn't interested in (BB debt AM teams) and was surprised at some comp (higher than expected). That specific debt AM role at a bank was $325K+ for senior associates/junior level vp (idk surprised me). Note most of this data above is debt fund oriented/some real estate finance teams/special sits for banks and some equity... (also all NYC). If you're looking at larger names KKR/MSREI etc, you're on the higher end of the above (BXMT senior associate was $350k from chatting). Hopefully this is a little helpful to guys looking.
what recruiting firms work on filling associate roles? I was under the impression they usually focus on VP+ roles that require 4-5 years of experience
Industry: REPE (Opportunistic)
Title: Associate
Market: Invest nationally, based in tier 1 city
Firm Size: not sure, several billion AUM
Product/Asset Class: All Product Types
Experience: 3 years split between brokerage and REPE
Comp: $125k base + $100k target bonus
Congrats. Is this role based off NYC?
Los Angeles; Class B+ Value-add MF; family office ($5bn+ AUM) - Analyst; $115k base, 50-100% bonus target, opportunity to invest at GP level in every deal
NYC; 3rd generation RE focused family office; Full risk spectrum / main food groups (dev and acq) - AM and Acq Analyst; $105k base, 30% bonus target, opportunity for carry / co-invest after Year 3
NYC; Debt Fund; $2bn+. annual originations; Originations/Investments Analyst - $95k base, 30-50% target bonus, $10k signing
Friends/Colleagues offers:
NYC; REPE >=$200bn AUM; Analyst - $100k-125k base, 100-125% bonus, $10-30k signing & relo
Damn is the LA offer for analyst out of grad? If so thats a good offer
1-2 years of exp
Does anyone have any good comps for AVP/VP level compensation? (Midwest if applicable)
Acquisitions, asset management, development management, debt asset management? Comps for which area of the industry.
Bump
Industry: Debt fund - underwriting
Title: associate
Market: NYC; loosely cover east side of national for top MSAs
Product: all major property types
Experience: ~5 years in originations/underwriting & portfolio mgmt. MSRE
Comp: $135k base & 40% bonus
Could an MBA IB associate come in at this level?
I have MBA (more like T-20) + 2 years REPE, is this a pretty common offer in NYC for a big firm like this?
Industry: debt / equity placement
Role: 1st year associate
Market: nyc
Firm size: large / national (institutional team)
Comp: base $85k + 100% bonus
Is this a brokerage role? Also, How many years of experience do you have?
I would like to know as well. Experience ?
Deleted
Have a couple that I'll rope into one comment.
Industry: MF REPE
Role: AM Associate Program
Market: DMV or LA
Firm size: large
Comp: base $100k + 100% bonus
_____
Industry: Opportunistic Development
Role: VP
Market: DMV
Firm size: small (25)
Comp: base $145k + 50% bonus
_____
Industry: Office/Multi Owner Operator
Role: Sr. Associate/VP
Market: East Coast
Firm size: Small/medium
Comp: base $135k + 25% bonus
Source?
Interview experience, although I should note the MF REPE is a little out of date (end of spring 2021).
Industry: Asset Management
Title: Analyst
Market: Houston
Firm Size: $2B GP Developer, Core + Value Add
Product Types: Multifmaily, Mixed-Use, Office, Retail— nationwide
Experience: 6 months out of UG as a D/E analyst
Comp: $95k base + 20% bonus
Is this a good offer?
For Houston? Absolutely.
Thanks for your feedback. Wasn’t sure if it was about market or better.
Insanely good offer - honestly have not heard of anyone making that much at a Texas Development shop at the analyst level, especially straight out of UG - for context I’m at a large developer in Dallas making $85k + 20% bonus right out of school but I did a 5th year MSRE program
Thanks, talked to a recruiter yesterday and he said it was more than what he’s seeing for Acquisition Analyst jobs in NYC lol. Definitely seems like a good starting buyside gig, and they mentioned that there’s plenty of mobility to move to other front office teams (dev/acqusitions) later on considering I have a deal team background
Role: AM Analyst
Market: Midwest/Non-Chicago
Firm: Multi-billion AUM MOB core/plus, 75- employees
Experience: UG from RE target, 2 internships
Comp: 70K + 25%+ 5K sign-on, Accepted
Industry: Acquisitions
Title: Associate
Market: New York
Firm Size: 5bn+
Product/Asset Class: Everything
Experience: Currently 1 year of IB but start date is 2022, so will have 2 years by then
Comp: 130+160 (target bonus the company said most people get) + 30 signing
My 1st year IB Comp: 85+75
General observation is that REPE roles that hire on cycle from IB pay significantly more than my peers who have jumped around different real estate shops. Would recommend trying to hop in on cycle if currently at a shop that pays less
How do you recruit on cycle?
Find out the timeline from friends in banking, try to connect with HHs to get on their radar for RE positions and then just prep like everyone
Industry: REPE (Opportunistic)Title: AnalystMarket: Chicago but invest nationallyFirm Size: $5B AUMProduct/Asset Class: All Product TypesExperience: UG from RE target, 1 Year of AM Comp: $90k base + $20k bonus + $20k target bonus
Chicago COL or lower COL for midwest
Chicago based. I'm not sure how that compares to, but would be interested.
Why do you have two bonuses
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