Mid-level AM comp
What are y'all seeing for Asset Management comp in the 3-6 YOE (associate to director/AVP) bracket, mainly primary/secondary markets?
For a data point: Top 200 PERE firm (yeah yeah, "means bubkiss" etc etc) Primary west coast market 4 YOE Incoming Associate role Offered $155k + 25% target bonus + $10k moving allowance
Y'all think this is low or within market?
Based on the most helpful WSO content, your offer seems to align with market trends for mid-level asset management roles, though it may lean slightly on the lower side depending on the firm and market specifics. Here's a breakdown:
Compensation Benchmarks:
Your Offer:
Market Context:
Verdict:
Your offer is within market range, but it could be slightly improved, especially on the bonus side. If the firm has strong growth potential or offers significant career development opportunities, it might still be a solid choice. However, if you're looking for top-tier compensation, you might want to negotiate or explore other firms with higher bonus structures or additional perks like carried interest.
For what it's worth, my firm pays $250 - $350k generally all-in for 3-6 YOE, who generally have the Associate title. Large diversified global asset manager. NYC based.
That's pretty good comp for Real Estate AM at those experience levels.
This looks like trad AM. Not CRE AM. Can you clarify as I see your title says PE LBOs.
Yeah I kind of made that assumption as well, but it's possible they just pay all AMs in the same range regardless of coverage.
Confirming it’s for CRE AM. No/minimal discount to the acquisitions guys, which may not be the norm in the industry.
Any chance your firm is hiring? I am an AM AVP at a top 10 REPE firm on east coast, looking to relocate to NYC.
I would expect 3-6 YOE to be closer to $150k (3 YOE) to $225k (6 YOE) for primary markets based on data points I've seen heard from coworkers leaving. Secondary markets will be below that.
Agreed. Seems about right for an associate role. Seems low for director / AVP (or whatever they would call the role above associate)
Thanks for the feedback. Are those all-in figures?
Yeah, that’s all in it’ll get higher at MF groups and some “elite”/sweatshops, but there shouldn’t be many too far outside that range (BX/other MF being an exception). At the higher end you may see it get into the mid 200’s in good bonus years.
Gotcha, $190k-$200k seems in line with what I should expect then. I know a target bonus is just a... target, but how often are employees below the quoted range (for me it's 35-45%) at well capitalized firms like these? Is it ever zero?
Completely depends on the firm. I would say most firms you'll get your target bonus as long as 1) you don't suck and they want to fire you and 2) firm financial performance is ok. I worked at one shop where I consistently got over my target bonus, and another where I got exactly my target and not a penny more, so it really just depends.
If bonuses are zero it either means the firm had a really bad year and people are probably getting laid off, or you're underperforming and they want you to leave without necessarily firing you.
However, there are some firms where it's based more on math than soft evaluations of performance so it could fluctuate based on whatever metrics they're measuring.
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