How are some of the large core funds performing during covid? I know they invest in trophy/safe assets. I’m talking about places like PGIM Real Estate, Lasalle, MetLife, etc. I’m about to start at one of these firms in the summer and was quoted a bonus range but I’m not sure if they’re doing bonuses because of covid.
Do you think that there would be zero bonuses because of covid at these firms that have funds like this?
Your bonus will be a year from this Jan/Feb...this is a dumb question. Let me look into my crystal ball real quick to let you know exactly what's going to happen in the CRE world over a year from today
I guess if anything I’m asking about people who work at these place in the core funds if they are getting bonuses for this past year with covid.
Core funds are the most stable for a reason, as are the firms that sponsor them. I am not sure they really cut any staff or eliminated bonuses back after the 08 GFC mess (many many real estate firms did both, layoffs and/or canceled bonuses). Even so, I'm guessing you would be due for approx 50% prorated bonus for payout in early 2022 based on 2021 performance? So, I kinda doubt its a big enough deal to worry about. Hell, some write downs in 2021 may make outperform easy in 2022 when you are likely first eligible for a full year bonus.
Still, these firms are known for their stability, this tends to be true in the compensation field as much as anywhere. If you knew the metrics for your bonus, you could probably make a clearer estimate, but they may not share that until you are onboarded as it is likely considered proprietary (but I'm some WSOers could post anon if they so choose).
Also, if you know which fund you are going to work for, you could maybe figure out how it is doing from other data sources. I'm guessing you know you are assigned to the core fund business for sure, so you probably know enough to do some digging if really curious. Still, major crap shoot guessing game this far in advance.
I'm sure the high-yield, opportunistic/development teams in those firms will face more volatility, but the core fund teams should be fairly secure on a relative basis.
Fund is down like everyone else except industrial. Bonus as usual.
Assuming you’re working at one of the firms listed (or similar Life Co esque fund): these are the “steady eddy” firms. Your pay will usually not be as much as the people in REPE, but your stability is there. You’ll never knock it out of the park (unless you are one of the top few people in the firm) but you’ll never have a $0 bonus either. These firms are known for their stability and many people don’t leave once they hit VP or above because it’s hard to give up a $300k-$400k job per year that’s pretty consistent. In terms of your bonus target, if your a first year analyst, I would think $20k-$30k.
bonuses could be down, but it won’t be $0. If you get $0, it’s because you’re a producer and high up and didn’t produce.
You should probably ask the guy on this forum who recommended a $990m short on Tesla shares in March 2017 ... he might have some (very) valuable insights to help you with your query, give or take c. 50x swing in results either end of the stick
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