Real Estate Asset Management Compensation

To be clear.... I totally support/encourage people knowing their worth..... just be highly recommend people be strategic about career moves. Taking laterals while at the analyst/junior level to 20% bumps can sometimes be a smart moves, BUT in also can lead to hitting reset on "promotion" counter and actually be a long-term sub-optimal move. The reality is that most juniors (let's just call this less than 3 years of post-UG experience) cannot drive all that much value.... so best to learn and get those years out of the way while one matures. Then move strategically (like start looking in that 2-3 year range if the current firm seems unpromising or that underpaid). I've talked with people do did the multiple jump during their 20s to then wonder why they are only a Sr. Associate in their early 30s while their peers are moving up faster, this is very personal/YMMV, but in the case of Mr. BDE (gonna assume the gender on this one lol), he should focus on the current job and master it, and def not feel underpaid. I'd wager from a value creation standpoint, he is quite overpaid at the start, but will earn into it as he ramps up (as is the case for almost everyone).

If you start to feel underpaid, under appreciated, or just like you need to "move" from day one, you can seriously fuck your chances of doing well. I've seen this happen to people first hand, then they figure it out 5 yrs later as they try and recover. So, push more for and be aggressive, hell yes!!! But be smart about it..... know your "value" is as much about knowing the value you create as it is various "market comps" on pay. 

To the COL point..... I can 100% promise you that pay in NYC doesn't come close to equating pound for pound with LCOL/secondary cities when adjusting for housing, taxes, transport, costs, etc..... And it is for reason you point out.... the lifestyle/amenities. People choose it, self-select, and the market wages reflect it (as do the rent prices lol). For me.... the big advantage of places like NYC is the density of HQ/high end employers and fellow colleagues that value the skills I have. Like my current employer was literally 8 blocks from my last employer, so during the interview process, I literally just took various "long lunches" and "coffee breaks" to walk over for interviews. If had to fly and take days off or whatever... would be much harder.... that to be is much bigger factor to the value of big cities like NYC (I'm in the married w/kids live in rail connect suburb stage, so a lot of the urban amenities of NYC are of much lower value personally).