Currently in the process for the above role. It is a role at very strong MF developer in Charlotte, but still a regional/sunbelt player vs a national brand. About 3-5 years of experience required for the role. What should comp be? How is comp in Charlotte overall?
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Based on the most helpful WSO content, compensation for a Senior Development Associate role in a regional multifamily (MF) developer in Charlotte, NC, with 3-5 years of experience, would likely fall within these ranges:
Charlotte Compensation Overview:
Charlotte, as a growing Sunbelt city, offers competitive compensation in real estate development, though it may be slightly lower than major national hubs like New York or San Francisco. However, the cost of living in Charlotte is significantly lower, which makes the compensation more attractive in terms of purchasing power.
For comparison: - A Development Manager in the Southeast region (similar markets) might earn $100,000 base with a $20,000-$40,000 bonus and 0.5% equity in deals. - A Development Associate in a major Southeastern city could earn $65,000-$85,000 base with a $10,000-$20,000 bonus and potential equity.
If you're negotiating, aim for the higher end of the range, especially if the developer is well-capitalized or has a strong pipeline of projects.
If it is with a company with initials MC, I would just ensure you do a lot of due diligence on them and make sure it is a right fit. They have had a lot of turnover, and guys that I know used to work there didn't have great things to say about the shop.
Comp wise for senior development associate is probably $125 - $150K with bonus being very dependent on the shop. Some, like my old firm (although not in CLT), did just flat bonus, where other shops have milestone bonuses attached and or profit sharing (this really only being TCC that I am aware of for this level of role). Bonus as % is probably 20-40%.
Hope this helps and good luck!
It is not, but this is super helpful! Really appreciate it
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