Hi, I am considering a career switch to real estate with the end goal of being real estate. One thing I am concerned about is if the pay is competitive.
What is the pay progression in London doing real estate PE in general (2 years post IBD)?
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That’s intense man I know people like real estate...but becoming real estate that’s a whole new level !?
haha, wasn't sure how to edit it. Any input though?
Don’t know London market rate, but at least in the US it’ll be maybe a slight pay cut but that’s worth it in a couple years afterwards once you start getting carry. On top of that you can likely expect a significantly better work life balance
Wait what? None of my analysts who went onto REPE after 2 yrs REIB in the US had a pay cut. Starting salary $150-180k as an associate all in $250k+
I jumped from IB to a RE debt fund and have seen an increase in my overall pay, and a drop in my hours worked..
Are you london based? Some figures would be helpful if possible.
I've talked with PE recruiters in London. I'd say associates should expect 95,000 - 115,000 GBP all-in, but varies firm to firm based on bonus structure. I had an offer for a firm that had a 65,000gbp base with up to 100% bonus, but that was probably the highest I saw. I didn't recruit at any MFs though, but bigger firms.
Bigger than MFs?
Sorry, I meant not at MF funds, but not small firms. Some were on the PERE 100 at the higher end.
95-115 all in seems very low.
EDIT: Just to give some color, I cleared that in my 2nd yr of FT experience whilst in REPE
Yep - that would be too low. £150k+ all in I'd say is more realistic
Thank you for your comment. This salary seems very low all in...
Hey guy, putting salary aside ... what's the real reason you want to move into PERE ? If they paid the same as your alternatives, would you make the move ?
It’s free.
Ayy!
When do people start clearing the 7-figure mark - after they become a principal or start their own firm?
Never. You will never break 7 figs in your career. Now go out there and prove me wrong, cowboy!
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