Hi all,
I just got an offer to work for a REIT in its Investments and Acquisition team. This is a post-MBA Associate role with base of $150k, bonus 20-30%, and $10k signing bonus in a HCOL city (NY/LA). Does this seem like a reasonable package for post-MBA? Should I try to negotiate? The company hires a batch of ~6 MBAs so feel like it would be hard to negotiate since it pays everyone the same. Thanks!
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So a few thoughts...
- Yes, sounds fair/reasonable (but not overpaid)
- You should always negotiate some, just realize it is a fair offer so I wouldn't play hardball
- The signing bonus where they probably have most freedom to move (and not impact overall level set pay expectations)
Anyway... congrats on the offer!
thanks man!
Have interviewed for associate roles in “programs” like that and there’s basically no negotiating leverage.
I would say, if your work experience pre-MBA was 4-6 years at a REIT doing acquisitions, you could maybe negotiate higher given I doubt the other post MBA grads have that relevant of experience.
I also think the money will come fairly quickly. And if it doesn’t, you should be able to lateral in this hot job market
do you think I can do this and lateral to REPE?
I mean yeah but I wouldn’t necessarily be in a hurry to do so. I’ve seen more senior people switch from REIT to REPE. There’s no real rush, especially considering this job pays basically in line with REPE.
its not like IB where you need to get out ASAP before you get too senior
I’d probably edit this to take the market cap off. I already know who this is lol.
I find that negotiating additional pay is usually easier (relo bonus, higher bonus target). I would start with base and if they don’t budge counter with the additional comp.
Yeah sounds like Welltower based on locations and market cap haha
Yeah they don’t pay that much for associates. Some commenter was going nuts over welltower pay but he wouldn’t give a number so I threw out $300k as a question and some other random person confirmed it.
REITs pay like shit until you’re an executive. OPs offer is on the higher end
I wouldn't necessarily say they pay shit. Definitely less on the whole than REPE around the more junior levels, but this is real estate where everything is unstructured making salary negotiations an utter shit show. Some big/top REITs will pay close to REPE all things equal but there is certainly less that pay along those levels than there are REPEs willing to.
Either way. I think Welltower paying close to REPE will hopefully force REITs to be more giving at the junior levels.
Lol yeah whoever said 300 for welltower is a clown. Realistically none of these feeder post mba programs into re will pay near that. Your offer is in line with standard
thanks man
.
How is the bonus language written?
That seems about right for a fresh MBA grad RE pay (base salary wise). I'd even argue that the bonus a tad low if this in NYC, but given the REIT structure, it's understandable. If you don't have previous RE experience and just looking to get experience before jumping ship to a more PE-fund-structured firm, I'd say it's a good enough comp package. Always negotiate, but a few bucks ain't going to move the needle.
I'd just throw it out there - but I'd make sure what you know you're getting yourself into work-hour wise before starting. SL Green in NYC is notorious for being a sweat shop that whips their people with IB-like hours, while not comping them so. Your time is valuable, so do your DD.
thanks man
Any update? Did you counter?
unfortunately can't negotiate :(
that's top end for a new hire into that role in any location. bonus is just a target range so there is potential to earn above that. once you are more tenured there are also stock plans that will increase your all-in number.
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