Wells Fargo CRE Portfolio Manager
Hi y'all - ran into a good looking girl/boy ( doesn't matter ) who works for Wells Fargo as a commercial real estate portfolio manager. We exchanged business cards.
Looking at LinkedIn, it appears that it's a WFC CRE asset management role. But the descriptions of responsibilities for the same title across different profiles are all over the map ( equity, debt, and even direct asset level ) with large differences in experience and backgrounds. To my knowledge WFC does not directly invest in CRE. Glassdoor salary range for WFC CRE PM $180k to $280k, which seems high for a loan asset management comp.
Does anyone know what a WFC CRE PM do day-to-day?
It's a loan AM/PM role with 10+ year of experience. It is for their Multifamily debt platform. 175 base would seem kind of low. Unless there is another one, their internal recruiter reached out to me on this 2 days ago
What base were you quoted? I work at Wells and 175K base seems right to me (especially since the R-250286 posting had only 4+ years of experience requirement) though maybe 200K is reasonable depending on experience.
Schedules permitting, ping a PM, thanks
What kind of bonus does WF pay for this type of job?
Familiar with this position, if you are referring to the senior CRE portfolio manager opening within the multifamily capital/balance sheet team, the title is kinda misleading. It is not debt portfolio management in the traditional sense, it is an underwriting role. I would call the position a senior underwriter. Of course you might do annual portfolio reviews but a large part of your job is underwrite live deals and take over a deal once a LOI is signed and work on it till closing. Sometimes if screeners dont have capacity, you might even screen deals and take it from cradle to grave. At Wells you have REB which is the balance sheet lending group where you will work with different CRE product types. This is their "institutional" lending group. And then you have Multifamily Capital which consists of the Agency business but the group also has access to it's own balance sheet. This is useful as the Agency clients (middle market and institutional clients) might need a bridge loan for a value add deal or sometimes a deal is just not ready for an Agency loan. This balance sheet team within multifamily capital has it's own underwriters though sometimes depending on capacity you might have Agency screeners and underwriters working on balance sheet deals as well.
Thanks for the insights. Is this UW on behalf of clients of for WFC own fund/investments ?
This is UW for loans held on WF's balance sheet.
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