Mulling the decision to move to San Diego or OC, but not willing to take a pay cut. What do associate or senior analyst acquisition roles at REPE firms or operators typically make in this area? Of course I’m sure there’s a large range but would like to know what to expect before moving forward. Thanks!
| +52 | Leave brokerage to be GP | 12 | 1d | |
| +46 | New Comp Database - Google Form (Now with Data Validation) | 24 | 1d | |
| +24 | Seeking Career Guidance in Real Estate Development Post-Graduation | 3 | 2d | |
| +23 | Going out on your own | 4 | 1d | |
| +23 | Spreads over SOFR/UST | 5 | 2h | |
| +22 | REPE/Development GPA | 15 | 4d | |
| +21 | Real Estate = complicated + underpaid | 15 | 1d | |
| +17 | MSRE/MSRED with no RE experience; Naive to think I’ll land a job afterwards? | 4 | 5d | |
| +17 | Fisher Brothers | 6 | 1d | |
| +15 | Can you exit from Fund to Asset management or Investment in Real Estate ? | 21 | 5h |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Following, I’m looking to make a similar move. In LA now.
How does the job market look out there? I’d be relocating from east coast.
.
I don't have a great frame of reference because I've been at my current company for 4 years and not looking for other roles.
The market seems slower than normal due to the decline in transaction activity. I'm still seeing and hearing of a fair amount of job opportunities (multifamily).
Seems like most solid GPs / funds have enough fees to run and don't want to be caught flat-footed when distress fully arrives and bid-ask spread narrows further. They want to stay fully staffed and be reviewing deals.
We already picked up a deal that we offered on but bowed out in best and final only to pick it back up and close after the original buyer blew out of the contract.
Who’s hiring for acq associates in either of those markets? LA even?
LA is absolutely fucked right now, thanks to Karen Bass. In what world is it a good idea to replace 0.45% transfer taxes in favor of a 4% - 5.5% tax to ANY residential/commercial property that's sold in LA county? It's nonsense, but groups are way less active as a result. For example, I still don't think Mesa West has sold the AON building in DTLA after Shorenstein's default. Apparently the entire buyer pool evaporated as soon as the mansion tax went into effect...
Currently homeless rn preciate u my boy
Huh? Karen Bass didn’t do that, the voters did, just like the voters in Beverly Hills blocked the LVMH Hotel couple weeks ago....
BTW: it’s CITY* of LA only, no BHills, Culver City, Burbank, SM (tho they have their own now), etc… I honestly can’t believe people play the game of telephone this poorly and then regurgitate their opinions as if it’s fact……..
Also, a lot of those downtown/Hollywood baron office buildings were mostly sold BEFORE the mansion tax went into affect, or simply handed back to the bank (Brookfield). Rich Persian family’s scooped them up for 120-200psf, which is pennies on the dollar compared to a handful of years ago. Also, the mansion tax just makes the exits murky, but if you’re a developer the mansion tax likely won’t exist in another year or so, when voters repeal it because it doesn’t work, at all, and property tax revenues continue to lower without new sales in the largest bracket increasing their tax basis…
I absolutely love all of this hate on LA. The more it appears like doom and gloom the more this bid to ask spread will shrink and make it much easier for us who hunt here, to well, hunt with success… Let Miami take all of the heat and see how well they handle it :)
Top comp in LA is Bellwether AM. Good luck getting in though. Even for BX guys its a hard spot to land. Don't even bother if you aren't doing opportunistic acquisitions at an MF.
You must be right, 120K base + 40% bonus for Associate 1’s is out of this world
I know of a few acquisitions firms in LA that are paying similarly. Continuum, Westport, ValueRock, BKM, etc. Even some of the brokerage firms are starting to pay their analysts/associates a good amount - SRS NNLG, some Matthews teams, etc.
You serious?
Extremely
What is BWAM paying these days?
200k all in for analysts
What kind of loser wants to work at a 3rd party underwriting shop in El Segundo. Even the Principals are just some other investor's analysts
Dude you sound really jealous and that's really sad. Get help
+1. i lold
obvious troll. BW pays 60k base lol. Backoffice_Boss has fun trolling on WSO due to his own failures
What have I failed at? You seem upset?
60k base is beyond wrong for an1
I have personally talked to a VP at BWAM who said they make like $300 - $350k all-in. That's solid for sure, but wouldn't consider that even close to top comp in LA.
Wouldn't think San Diego would be materially different from a comp perspective than LA.
The burbs are booming and it's much harder to make high-density development work right now, so I would think most of SoCal is in a good place.
That was my thinking but I was told once that is not the case by a recruiter
It 100% is. Im at a San Diegp Ground Up Development Sponsor. 1.5YOE getting blown out of the water by some of my buddies who moved up to the LA Hellhole. Also just anecdotally the job offerings based in LA Acq/Asset mgmt seem to range from 90-140K whereas SD range is closer to 60-110K. As with most there's nuisances but its just what ive noticed
San Diego is 100% a lower paying market than LA. San Diego pays closer to a market like Denver, while LA competes with more 1st tier comp
Curious what your current comp is at your shop and what you're focus is?
I agree with that since I'm in LA. San Diego is at least 15-20% below LA market comp from recruiters I've spoken too.
Anyone have any data in OC and what its equivalent too, I want to end up there in the next few years? I would imagine its around the same as San Diego, of course this varies heavily by shop.
Actually, I think OC comp is closer to LA but maybe slightly less. Going to depend on the shop. OC actually has some larger players that will compete for talent with LA, but also has a lot of more boutique shops where your mileage will vary
Can comment on OC. There are small operators in OC that pay below market but are likely to hire local kids. There are larger firms that could be located anywhere but choose to be in Newport or Irvine. Those firms pay in line or above LA to get talent to come to OC. Not necessarily RE, but PIMCO pays bonuses to NYC team members to relocate to Newport when they need people.
I would recommend SD over OC 99/100 times. OC has a good amount of jobs but that’s because they HAVE to market to LA or larger market folks to see the postings and to move there. OC has its small tiny pockets of extreme wealth/beauty, but outside of that the lifestyle is dramatically different than SD and LA. It’s not for everyone, if I’m being frank with you. Just not what I would look for in a California “county”
Yeah totally depends where you live and I think you're right on SD, probably has more sweet spots to live. I grew up in Laguna Beach and then went USC, been in LA for the past 4 years (post undergrad) and did all my internships there, I want to get back to OC. LA has driven me crazy at this point...
OC is somewhere between LA and OC comp, but closer to LA. It also has about as many RE companies in Irvine/NB as there are in downtown LA. But not as many as on the Westside.
Ut a voluptas eos enim. Error beatae delectus vel vitae ipsam est aut. Et voluptatibus nisi et harum minima nihil. Molestias repellat impedit similique expedita omnis.
Earum sunt placeat tempore alias. Magnam quos vero non similique. Dolore laboriosam ad ipsam sit dolore error non ullam. Ut a ut eum ut nisi.
Provident reiciendis enim cum reiciendis assumenda. Cum error asperiores velit magni facilis deserunt. Cupiditate placeat cumque totam.
Non dolor quia qui quo minus omnis illo est. Alias corrupti eveniet hic odio adipisci quis excepturi. Qui doloribus ut in.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Iusto minus autem voluptate id soluta cumque. Molestiae sit similique earum ipsum in repellat eos. Dolorem temporibus beatae suscipit eveniet sint laborum labore soluta. Veritatis dolores natus dignissimos inventore atque voluptates.
Dicta dolores velit qui sint. Dolore in et similique.
Atque sit consequatur ipsa necessitatibus rerum numquam. Adipisci placeat a nihil nihil aut commodi. Rerum ut aut earum at. Ipsum ipsum totam placeat sed sequi unde aut. Consectetur sunt quaerat enim temporibus consectetur. Animi hic quisquam quis dolor exercitationem facere. Nihil enim atque sed maxime.