Question about CRE Lending compensation for Life Co
Hey all,
I am curious as to the typical compensation in CRE Lending for a well-known life company. I was told for a first year analyst, 70k + 7.5-10 signing + 18-25k year-end bonus as considered good. I was wondering how this stacks up to bulge brackets as well?
That sounds very high to me. I interviewed for a position at a lifeco and they only offered 50-60k with a bonus of less than 10%
On the contrary, it sounds similar to what I know analysts at AIG are making outside of the 7.5-10 signing. Not sure if they got that or not, but that's pretty damn cool.
Anyhow $80-$100 all in is right in the first year lifeco analyst ballpark in my experience.
how would one go about applying to lifeco analyst positions. I never see any posted or anything. any tips?
They are definitely posted from time to time, but it's like any other company. Find the right contacts at the firm and reach out to them.
agreed. this is something I need to learn how to effectively do. any tips?
Generally they do campus recruiting and cycle through analyst classes. Most regional offices are staffed so that losing an Analyst isn't the end of the world. As a result, external recruitment for such position is pretty sporadic once the fall recruitment window is closed.
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any tips on how and who to send emails to?
Off cycle hiring for us is not common given the amount of resources we put into campus recruiting. However, when there is a position to be filled, new hires come from direct application through our job board or (mostly) are referrals from current employees or the university system. My advice - (1) stay in touch with professors and administrators involved in real estate at your university. I went to a top undergrad program and I always notify these individuals when we have a hiring need. In my office specifically, we have two off cycle hires who were referred to us through the university channel. (2) Search your alumni database for individuals who work for Life Co.'s and connect with them. (3) Monitor internal job boards. Firms like Pru, Met, NYL, NWL, Teachers and others are massive Insurance Companies and HR typically does not post in places like Select Leaders.
I work for one of the largest Life Companies, your salary and bonus figures are in-line with what we offer first year analysts. I haven't checked on our signing bonus, however when I was hired five years ago it was $5k; the figure above does not seem out of line. I think you will find that this comp level will be at the top for Life Co's and compete very well with the BB CMBS shops.
@lifecoanalyst" can you comment on how salary and bonus grow over time at your life co?
My Salary grew between $2.5k and $7.5k each year. Bonuses depended on our AUM growth and production for our additional capital sources; however, I saw an increase between $5k and $10k each year during my first three years. Again, I believe we are among the highest paid analysts in our segment so this likely won't apply across the board. Because of the high volume of deal flow and multiple capital sources, we work much longer hours than most as well...however $110k all in for 60 hours per week is still pretty nice.
When your comparing analyst level comp for BB CMBS shops you need to remember that most will have a separate pool designated for all analysts across the division. It's important to note because if CMBS group (or even the firm) has an off year, the analysts will usually get paid.
That said, the comp above is def competitive with a BB cmbs shop. And, someone please correct me if I'm wrong, the hours might make up any difference.
From my experience when I was an analyst in the large loan group of one of the BBs, my comp was slightly higher, but a 90 hour week was average.
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I'm at one of the larger life companies and except for the signing bonus (I know we offered that for some associates, but not sure about analysts), that is inline with what we offer as well: 80-100k all in
After seeing these comps, I think its time I find a job at a lifeco
seems high to me on the bonus side. How many hours are you working?
As a first year balance sheet analyst i'm all in at 65. Hmm.
I interviewed for what would have been one step up from 1st yr analyst and I was quoted 50-60k base 7% target bonus and typical benefits. I turned it down for an equity acquisitions role. This was in a cheap metro though.
I'm sure a lot of the difference in comp can be tied to geography right? An analyst at Pru in Denver will get paid a lot less than someone sitting in NY.
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My company takes an egalitarian view when it comes to geography - you get paid the same amount for the same level no matter where you live. I'm in an office in the south and last year I confirmed that my base was the same as other associates in the LA and NYC office. Our bonuses were different (I was rated slightly higher/got promoted and we are in different groups so our revenue production was different), but our bases were all the same.
I'm on a debt AM team and work an average of 45 hours a week. Some weeks I am here on weekends, some weeks I come in at 9:30 and leave at 5.
Are you still at a lifeco? How do you see your growth? Is the work life balance really about 45-50 hours a week?
How many deals do you typically manage at once?
Shortly after I posted that, I moved to a different Life Co. I'm still here and in my new role, I'm actually working less than before. In the last 2 years I've never put in more than 40 hours and because of the cyclical nature of RE, I frequently have long stretches between deals/projects.
Let me know if anyone has any thoughts about an offer I have from a NYC area, Life Co lender ( $1 Billion annual production). VP/Director level: Base $210,000 + Bonus 25%-50% of base (100% cash).
I can't comment on your offer unfortunately, but would love to know what you were doing prior to this and how your comp looked? Were you at a different Life Co.?
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