Salary Negotiation - Multifamily Development Analyst to Assistant Development Manager Role
I'm looking for some advice on determining a competitive counteroffer for a new role I'm considering, and I’d appreciate your insights.
Here's my situation:
- Current Role: I’m a Development Analyst (1+ years) responsible for underwriting, financial modeling, market research, and coordinating comprehensive due diligence and land closing across multiple projects. I manage timelines and collaborate with various internal teams (legal, capital markets, asset management, etc.) as well as external consultants (Architecture, Engineering, Municipalities,etc) - handling all finance and pre-development project management from acquisition to permitting.
- Background: I have a strong finance and capital project management background (outside of real estate) and have completed a Master’s in Real Estate Development.
- Current Compensation: My base salary is around $96K (Development Analyst role).
- New Opportunity: I recently received an offer for an Assistant Development Manager position at a firm with significant active development projects and nearly $2B in the pipeline. For context, the Development Finance Analyst role at this firm typically ranges between $110K and $135K. I originally applied for that position (development finance) but expressed interest in moving towards development project execution/management. My current role already combines finance and project management up to LDP entitlements, approvals, and permitting (pre-development phase). Assistant Development Manager role will be all aspect from acquisition, construction phase, and lease-up. I would be assigned various tasks for different projects working under CDO, VP of Development, other Senior Development Managers essentially learning the role instead of typical Development Manager role that actively manages entire projects. I would be involved in the entire deal cycle but for different projects (for example I'd manage due diligence for one project, construction management for another, lease up for another, instead of a development manager that handles entire cycle for multiple projects)
- The Offer: The initial offer I received is in the $80K–$85K range which is lower than what I make currently and I anticipated that the role would be less that the $110K min typical offered but at or above my current 96K. What should I negotiate for salary counteroffer considering I would have increased project management/execution for a role that is like on job training/apprentice into a more permanent development manager role.
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