Trending Content - Real Estate Forum
| +45 | latest on Shorenstein? | 10 | 3h |
| +20 | Probability of S2 recap returning equity | 9 | 2d |
| +20 | To the veterans: What was institutional dev actually like during the last bull run? | 8 | 2d |
| +16 | Development vs. REPE pay gap | 8 | 3d |
| +15 | PGIM Real Estate Equity Opinions? | 10 | 1d |
| +14 | How do I break into a family office role | 3 | 1d |
| +13 | PGIM RE vs. Eastdil Secured | 5 | 1d |
| +12 | MBA Pipelines for REPE | 10 | 1d |
| +12 | Reneging - What should I do? | 5 | 3d |
| +12 | Opportunistic Equity Acquisition Associate Role - Middle Market REPE | 1 | 1d |
Career Resources
Title: analyst
YOE: 2
Location: socal
Comp: 115k
Title: Analyst
YOE: 1
City: DC
Comp: All in 105k
Can we report as “$100k base plus 10% bonus” for example. It’s helpful to see the base and bonus breakout.
Title: Development Associate
Location: ATL
YOE: 4
Base: $110k
Cash Bonus: $40k
Co-Invest Bonus: $20-$25k
That’s great for the location!
TCC?
How exactly does the co-invest bonuses work?
You get ~$25k in on the GP position?
So you earn promote and distributions based on your percentage of the GP equity?
I.e. the GP (who you work for) put in $1M & you get $25k of that. They get paid 8% ($80,000.. so you get $2,000 [$25k/$1M=2.5%…2.5% of $80,000 = $2,000])
Every year they give you another $25k for a different deal? You also get a peice of sale proceeds?
Title: Analyst - CMBS placement
Location: DC/MD/VA
Base: $110K
Bonus: 20%
PS/Growth: $12-16k
YOE: 1 in RE, 2 in UW
An2
DC Metro
Salary - 90
Bonus - 15
VP
8
NYC
200k base + carry
What amount of carry?
3 points in dev company and 3 points in fund
Title: Analyst
YOE: 2 (First year in development)
Location: LA/OC/SD
Comp: 90k + 30% target bonus
Title: Acquisitions Analyst
Market: LA
YOE: 2; 1st year with firm
Firm size: $25bn in total transactions
Salary: $100k base; bonus unknown
Carry: None; potential for co-invest in the next year or two
Hours: 25-50 - depends on the week, typically 35
Is this solid? How valuable is the co-investment option?
wtf are those hours, there are weeks that you only work 3 days?
seems very good for YOE and depending on bonus borders on ludicrous given the hours.
co-invest - depends on what that means, can you co-invest in the GP? then you're basically looking at 5x-10x the money you put in at realization assuming the fund/deal does fine.
I am not involved once the development process begins, so there have been a few weeks this summer where there has been little to do and I worked ~5 hours each day.
It would also be a co-investment into the GP fund itself. What I am asking here is if my bonus is around 30% and my base increases ~10% each year, would the co-investment option be worth staying put? Or if I am really trying to make some cash, should I look to jump to a more institutional developer / PE shop with higher bases/bonuses but no carry or co-invest.
You guys get a 5-10X multiple on the GP portion of your deals ?
Title: VP
YOE: 5
Location: NYC
Comp: 175k Salary + 30-50% Bonus
How did your comp improve from analyst->associate->VP?
Bump
Title: Analyst (small family office, so my job is more like acquisitions/development/credit hybrid)
Market: South Florida
YOE: First year with firm (started in June)
Firm Size: $1.5B AUM
Salary: $70k base, 20% bonus. Opportunity to co-invest on deals
Hours: 40-50 hours a week
Am I underpaid at 70k base even with the co-invest perk?
Frankly with those hours and first year that sounds like a good gig. If you’re not at 100 base in 2-3 years I would start looking around.
Title: Sr. Associate
Market: Northeast
YOE: 3 construction, 2 development, MBA
Salary: $160k + 30% bonus
Are you / will be entitled to carry ? If so, how much?
The next level up, Director, gets promote, but I don't unfortunately.
Title: Development Manager
Location: ATL
YOE: 6ish. All experience after MBA.
Comp: 125k with of bonus 20-40% depending on project milestones that have been reached in that calendar year.
Are you still in LIHTC development?
Yes sir. Definitely don't think salary is the norm for LIHTC especially in the SE.
Title: Development Analyst
Location: Southern California (develop nationwide)
YOE: 2ish
Comp: $90K with bonuses when we close and complete construction. Opportunity to co-invest
Bonus size??
$5K per closing, $5K per construction completion. Bonus size is upwards of $25K if I sourced the deal
Title: AnalystYOE: 0-1Location: NYC-metroComp: $85k
Title: Asset Management Analyst - REPE
Location: NYC
Base: $100K
Bonus: 15%
First job in RE, 2nd year analyst
Title - Development Associate
Location: Northeast
YOE: 2
Base: $110k
Bonus: 20-30%
TCC?
Sounds like Hines maybe?
neither...but close
Sr. Development Associate
Location: Northeast
YOE: Nearly 5
Base: $70k
Bonus: $70k
Title: Development Associate
Location: Bay Area
YOE: 1 year post MBA (prior 10 yrs non-RE experience in Corp Dev & IBD)
Firm Size: $1B+ AUM
Salary: $125k
Bonus: TBD - discretionary, none yet
Co-invest: Able to co-invest in projects or discretionary funds; firm will loan you the $ (5% interest starting at first capital call)
Carry: Available at next promotion
Hours: 50 hours/week
No comment just wanna say congrats on the career switch
Thanks! It wasn't easy...
is the switch worth it for someone currently in IB? seems like a pretty steep pay cut, especially since IB pay has gone up throughout the pandemic pretty significantly
Depends on your situation. The pay cut was significant for me, but RE is a long game. Thankfully my spouse has done well at her corporate gig and makes over 2x what I do - can be a tough ego pill to swallow sometimes.
Hours are much, much better than IB, culture & coworkers at my firm much better than my last few gigs, and the work is more interesting to me than energy where I spent ~10 yrs. I see my wife & infant more and am a lot happier at work, so it has been worth it for me. That said, I'm debating looking for a place with higher base & bonus and less focus on promote.
Delete
Title: Investment & Operations Analyst (Logistics Developer)
YOE: 1
Location: London
Market: UK&I
Base: £50k
Bonus: 10%
Hours: 35 in contract, 45 on average, 60 for longest
When do I get my inflation raise haha
Senior Associate
Major SE City
YOE - 3 years
Base: 130k
Bonus: 50%
Carry: .75%
Solid comp - congrats.
Have posted this in the general base thread but
Base: £80k
Bonus: 20% + 3% promote on my deals
Market: London, UK
YOE: 4.5 years, all development
Hours: 50 hours/wk
YOE: 10 + MBA
Market: Socal
Salary: Base 150K; Cash Bonus 30K; Carry/Promote Profit Sharing around 300K-450K annually vested over 4 years.
Hours: used to be in the 50-60 range. Things have slowed down so it's pretty steady around 45 hrs.
You hiring??
Not at the moment. Capital markets are pretty fucked.
Role: Development
YOE: 6 yrs. post MBA (4 years in MF development, 2 years in asset management)
Location: Major East Coast City
Base: $200k
Bonus: Target is 50% (fluctuates based on project milestones and performance)
Hours: 40-45 hours is typical, ability to work from home regularly
When will you get carry
No carry, and that's definitely a drawback. But if deals perform well its factored into the bonus structure.
Brutal for the location, what are your hours and what product do you work on?
Title: Development Associate
YOE: 4.5
Location: SoCal
Base: $135k
Bonus: ~25%
Title: VP
YOE: 5
Location: California
Base: $120k
Profit Sharing: 5% of profits to GP on deals I source
Hours: 50 / week
Title: Development Associate
Location: South
YOE: 2 (worked through senior year full time so technically 1 YOE out of UG)
Base: $75k
Cash Bonus: $45k
No major comp shift as company is getting hit hard but not a bad place to be lots of learning and responsibility
I see this is an old post but am currently working through some things so wanted to see if I could get any feedback.
Title: Director, Investments
Role: Development company but my role is focused on leading the small underwriting team, capital markets (debt and equity) and about to take on an acquisition function; small company wear a lot of hats.
YOE: 8 Years Post College - 6 Years in RE. MBA.
Location: Secondary Midwest City
Base: $140k
Bonus: 10% of Dev Fees (Split amongst Project Team)
Carry/Equity: Yes-Discretionary / Yes, 0.5% of Owner Invested or additional 2.0% if Sourced Deal
Hours: 50-60 hours is typical, very flexible work environment
Ut quia voluptates rerum dolorum deserunt dolor velit. Ipsam et facilis et commodi ut aspernatur. Voluptatem quidem quam ut est et fugit. Atque exercitationem rerum et. Dolores voluptatem vitae rem maxime delectus.
Ut quia iste aliquid vel aut aut. Consequatur consequatur tenetur corporis. Porro ipsum optio magnam exercitationem enim repudiandae voluptates ut. Dolore quidem sint ipsam quia. Placeat non mollitia tenetur. Dolores aut qui error aut iusto quo.
Sint consequatur ea et earum architecto. Architecto qui laudantium amet placeat quia repudiandae doloribus. Facere voluptatum amet itaque aut. Voluptatum rerum velit in. Eum laudantium animi tenetur illum ut. Perferendis eligendi consequatur sit minus aut blanditiis fuga.
Sed ipsa corporis cumque enim voluptates totam aut. Voluptas expedita quia harum voluptatem. Voluptatum omnis et ut consequatur odit minus in ipsam. Magnam qui nihil impedit porro quisquam ut accusamus. Vitae adipisci aliquam optio. Nihil consectetur aut odio dolorem adipisci libero beatae aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Inventore consequuntur commodi sed deleniti sint et. Velit enim optio ut cumque maiores rerum fuga non. Soluta id a aliquid soluta et et. Fuga nemo rerum quos. Iste odio id suscipit odit atque voluptatibus.
Earum beatae dolores dolores itaque. Distinctio possimus est et et nihil adipisci. Error non illo veniam accusamus ea. Suscipit quis et iusto nisi tempore dolorem soluta.
Qui doloribus quibusdam voluptate et adipisci. Consequatur quisquam debitis nobis voluptatem qui nulla. Voluptas veniam quo numquam mollitia.
Impedit sed dolore illum eligendi. Ad et neque sunt repellendus. Rem veniam et quis ab et. Et sunt nostrum eligendi dolorem temporibus iure qui.
Nihil quam quo veritatis labore sunt sed. Eius ratione velit enim odio non. Vel aperiam assumenda iusto fugit nisi unde.
Harum aut quae delectus consequatur recusandae libero. Tempora inventore quibusdam et dicta quae voluptas vel. Omnis error aperiam illum asperiores pariatur mollitia. Voluptas nihil quae ullam.
Rerum dicta omnis voluptates omnis. Minima officiis assumenda eveniet voluptatem at.
Quidem et ipsam odit explicabo dolore quas. Dolorem quae voluptatibus voluptatem culpa distinctio excepturi corrupti.
Architecto maiores cumque sed. Eum amet et reprehenderit recusandae perspiciatis asperiores et. Aut ut hic veniam fuga voluptatem.
Quos debitis rerum minima neque. Et hic eaque accusamus harum qui eum molestias. Perspiciatis quia nesciunt eum dicta doloremque deleniti. Recusandae dolor ea accusamus dolorum eveniet assumenda voluptate molestiae.
Nesciunt quia at voluptatem suscipit voluptatibus et dicta quo. Fugiat velit sint ut praesentium laborum reprehenderit. Corrupti recusandae omnis voluptatem rem. Itaque laborum id exercitationem rem perspiciatis vero.
Nesciunt quod illum aut quibusdam quisquam totam officia. Aut est et doloremque hic aliquid suscipit facere et. In quos eos culpa et fugit reiciendis accusantium. Illo autem possimus voluptatem veniam iusto veniam. Ex nobis sapiente voluptas quia cum sed. Voluptas necessitatibus quia numquam nemo ducimus dicta voluptas.