Hey guys, in the spirit of self-improvement during this Covid-19 madness, I am doing some reflecting on my career and identifying which experiences/skills I have and which I am missing at this point as an associate. I am wondering what are the essential skills/experience that you guys had before each increase in rank/title/responsibility (going from Analyst to Associate, Senior Associate, VP etc). Also would be interesting to know the generally pay bump at each of these I know the titles vary from shop to shop but I am hoping to get a general sense of what changes at each of these milestones.
For myself, my current responsibility as an associate looks something like this: • Underwrite new multifamily acquisition and development opportunities in Microsoft Excel • Evaluate and assist in the execution of renovation programs for existing multifamily assets • Research market fundamentals, demographics and comparable properties to support revenue and expense assumptions in underwriting • Prepare investment memos and supporting analysis for board review • Coordinate with local municipalities, brokerage groups, vendors and strategic partners to evaluate new and existing opportunities • Support disposition, development and asset management process
Contribution Highlights • Created new processes to track lease-up in new multifamily developments • Currently coordinating a renovation plan to reposition a legacy multifamily asset • Revamped acquisition underwriting model and process to include additional return metrics and assumption sensitivities • Assisted in rezoning process to allow higher level of usage at a retail site • Introduced the deal team to a local brokerage group which has created a new pipeline of opportunities
Software: Costar, Yardi Voyager, Microsoft Excel
And as for my comp increase, I joined my current group as an acquisition and development associate after working for a global repe firm as a research analyst so the increase isn't quite apples to apples.
