REIT Compensation and REIT -> PERE Transition
Dear all,
I am a second year MBA student in Chicago (Booth/Kellogg), and received an offer to join a REIT in NY, paying $135k base and a target bonus of 20 - 30%. Judging from comments on this forum in earlier topics, this seems a reasonable number. Would it make sense to negotiate in order to bump up this figure to $150k+?
Furthermore, how often do you see a switch from a REIT to a PERE fund? I would be doing acquisitions, so even though I appreciate there might be some differences, the skill set you develop in either place wouldn't be too fundamentally different?
Thanks!
I have a friend that went to one of the top UG real estate programs and started at a REIT for 3 years then transitioned to REPE. I have another friend that just left after 6 months UG from an advisory role to another boutique REPE. I think it's tough in general to get an offer from a mega fund, but shouldn't be too hard to land a job at a smaller fund. Not that I know for sure, but my general sense is that the earlier you try to transition to REPE, the easier. There's generally fewer openings the more senior you are.
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