I’m trying to gauge if I’m in a good spot to ask for a substantial raise… It’s a touchy subject because in tenant rep brokerage, many guys made it on a draw or with no salary at all, and might get offended if I ask for more money.
I am currently a Financial Analyst in a major market (NYC, LA, CHI), on a top producing team, at one of the best shops for tenant rep in the city (JLL, C&W, CBRE). I have been on the team for close to a year now and I love it. I understand broker compensation is tough starting out but at 43K a year I’m having a hard time paying the bills sometimes. I assume they will eventually give me a cut of the deals I work on or source, but for now, I'm strictly salaried.
My education was at a non-target school in the city I live in. I graduated in 2017 with a degree in real estate and came in knowing the market very well. I’ve become skilled in excel and have started to prove myself by sourcing sizable meetings in my free time and by consistently working to build better tools to analyze leases and source new business.
Would it be unreasonable to ask for a 5 – 15K raise at the end of my first year? I’m becoming very competent and currently run analysis for our multi-market clients as well as some medium sized (10 – 20K RSF) deals in the city, as well as other brokerage-related tasks.
Side note… I’m 75% sure the company pays my salary… if that helps
Thank you in advance for your responses.
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