What is a fair salary/bonus for an entry level position at a Development firm?
I'm graduating UG this spring, and looking at starting an entry level position (maybe Dev. Coordinator/Associate) at a firm in southern California, likely LA or SD.
I've seen several posts of people asking this, even a year or two in, who seem to be grossly underpaid (think $20k+ a year). It's nuts that some people are missing out on close to $50k overall in their first 2 years alone.
What type of pay should I expect for my first 1-3 years in this position?
Thanks!
What type of firms are you looking to join? Product type, geographical markets they invest in, typical number (and size) of deals, etc will help with getting accurate info about comp.
I’ll start off with one data point: I’m a Development Director at a national MF (heavily concentrated in CO, AZ, FL, GA, NC) executing 300-unit garden style suburban apartments. Earlier this year I hired a Development Associate, whom we’re paying $75k base plus $2.5k per construction loan we close (we broke ground on 3 projects in 2022, which is a typical year for my team). This is typical comp range/structure for Development Associates across my firm.
Typical profile for Dec Associate at my firm is 0-2 years experience w/ either technical (engineering/arch/etc) or finance background.
Worth noting, although we’re national, my firm is headquartered out of a small midwestern city (think OKC/STL/KCMO/IND/CIN/PIT) so keep COL adjustment in mind, compared to CA.
Hopefully this helps!
This pay is really bad for a dev assoc
For someone with no experience, the pay isn’t that bad given the low COL. For 2 yoe, it is definitely low.
In this particular case, the associate had no development experience and an unrelated degree (psych).
Also, the pay at my firm moves up significantly after moving into a development manager role, which is the expectation at about the 1.5-2 year mark.
This pay is absolute trash or just indicative of your firm/your management style
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