Hello everyone,
Wanted to get some color on market comps. Have ~2 years of capital markets experience at a bank then made a move to a real estate multifamily developer in NYC. Hitting the 1 year mark, trying to get a better sense of market compensation.
Leanly staffed milt-family development firm. Backed by private equity. Vertically integrated….development, manage, own.
Role:
-Identify new developments, market research, financial analysis, modeling, putting together pro-formas, etc
-basically find a couple deals a year for development
Performance: Been told I have been exceeding expectations.
Can someone help me with some market data?
My understanding of the range….
Salary: 70k -100k
Bonus: 25%+ of salary
All in compensation: ~90k+
Thank you in advance for your time and assistance.
Your mileage may vary but my salary is lower but my bonuses are higher (50% one year 65% another)
My first year all in comp was lower (75K) and my second year all in comp was was 90K
SHB, are bonuses in nyc usually this high on average at the analyst level?
I don't think so. Although I don't have close friends in RE acquisitions to compare. To give a bit more color on my bonus; I'm one of eight guys between leasing and finance that runs a family real estate fund. My bonus is a certain percentage of a total bonus pool which is formulated from growth in performance of the portfolio. So it’s not really as discretionary as some other companies can be.
At the same time my base is (I think) lower than most of my peers.
I'm almost 3 yrs out of undergrad and work in the investment arm at a REIT. My comp is in that range, but I am also in the southwest where the cost of living is 20% less.
Just out of curiosity, are you working on primarily development or acquisition deals? How involved are you in the development process from the initial LOI to CO?
Apologies for delay in response. Working primarily on development but finding potential acquisition deals. My role is beginning to transition or better yet, grow from more so market research and finding the deals to working with the civil engineers, lawyers, architects, the local city, etc to go through the development approval process.
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