Where can I find Bonus Bonanzas in Real Estate
I work at a RE seveloper and I am looking for the exit opportunities that will allow me to get the biggest bonus possible. I’m just focusing on bonus because salaries vary less. In your opinion, would a repe firm do the trick?
Development at a big shop. Know of multiple associates and VP’s at my firm (under 30yo) that have cashed bonuses in the 500k-1M range in recent years. Across different products / markets / years as well, so not just a one off thing
This sounds high for under 30. Are you talking merchant builders or mega project developers?
Not sure what you mean by mega project (I assume infra? We don't do that), but we would be considered merchant build by most.
For mega projects, I was thinking brand name developer working on Hudson Yards or other massive budget projects. I am not sure what bonus pay is for this type of project.
I havnt seen associate or new VP make a $500k-$1m bonus on a merchant built apartment/industrial deal.
My buddy who's a storage developer has cleared 7 figs of payouts in the last few years
Okay then yes, we have some similar (not as big, but big) projects we are active on. I think our biggest upcoming “neighborhood” type activity will end up around 2.5-3bn in total value once all phases complete
The majority of the 500-1M payouts have come from (large) merchant build industrial deals, however. Not going to go into specifics, but we’ve had multiple industrial developments that have resulted in >100M in profits for us as the developer in recent years. Those type of economics mean everyone can get paid well
Is industrial generally a more profitable asset class? For merchant builder developers at least?
I did some research on this for our executive team recently, and historically office has been where the biggest individual winners came from (though they take longer and more capital). It’s only been in recent years where we’ve had crazy outperformances on industrial. Without revealing too much info I would say for a typical deal Office > Life Science > Industrial > Resi in terms of per deal potential. However it’s much easier to do a larger volume of Industrial and the turnaround is much shorter. Obviously recent macro environment has hurt office the most
Lol, those mega projects don't make money my guy
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