Marcus & Millichap Compensation
Hi Fellow Monkeys,
I was wondering if anyone can shed light on the pay structure for Marcus & Millichap Capital Corporation (MMCC) for entry-level Analysts.
I believe their institutional client focused subsidiary, IPA, has entry-level analyst positions too for both, IS & Capital Mkts. Any insight on that would be much appreciated as well.
Which office?
Any in Texas
Echo everyone's sentiments on M&M, but the IPA DFW team absolutely crushes it. They've sold more Class A deals this year than anyone in that market, including a lot of off-market stuff.
My understanding is that team also has far higher headcount than any other institutional brokerage shop there, with the pitch to sellers being "we have substantially more resources than any of our competitors". They were always able to turn analytics quickly and were thoughtful with their UW (though aggressive...more on that below).
We've gotten several BOV's from them, and they are very aggressive on pricing and some assumptions, particularly effective rents. That being said they have been hitting or exceeding guidance on most of the assignments they've had recently, though I'll caveat with who knows if those are anywhere close to their BOV's. Know they had one deal recently where guidance pricing was set ~15% below where it BOV'd 6 months ago. Lo and behold they are within 1% of guidance on initial offers though...
IMO would be a great spot to start a career in TX.
You really sure you want to work at Marcus and have that name on your resume? I understand you won't be a boiler room 1099 contractor calling 24/7 but still.........
Working at M&M would be a mistake. Someone once told me that working there is worse for your resume than not being in RE at all (at least with regards to moving to top shops), and with hindsight I'd say that's not totally inaccurate.
They are the Cardone Capital of brokerages.
Is this thought consistent with their institutional client focused arm, IPA? From what I heard, IPA Analysts aren’t glorified call center representatives like incoming brokers for general M&M, and receive training for a couple years before becoming full-fledged brokers.
IPA is legit
I did my first year at Marcus and now 1 yr and 1 yr at 2 different acquisition shops.
Should I take Marcus off my resume explain the year gap after college in the interview? “I worked a year in brokerage, but did not include it as I really wasn’t in the weeds in underwriting which you would do for this position”
M&M is a mistake, won’t train you. Work for one of the big 4 or a full service boutique brokerage and learn everything.
Everyone shitting on M&M doesn’t understand that IPA is a separate entity that does institutional deals similar to the other big brokerage houses.
Working at IPA would be similar experience to working at Cushman. Depending on the team, probably better experience. You don’t put M&M on your resume - you’d put Institutional Property Advisors. Legit REPE firms will know the difference because they’ll have seen their deals in the market
Not really a separate entity, just a different email and business card depending on deal size.
They pay you in experience bro! It's the best bro!
You work there huh?..
That was blatant sarcasm if you didn’t catch it.
Try to join the Dallas team, one of the best IS multi teams in the country. They are very solid guys, crazy deal flow, and you'll probably make a lot of money even as an analyst.
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