Working at a Mega-REIT or LMM REPE Firm?
Just curious to hear a bit about the pros and cons of working for one of the top 5 REITs ($20B+ AUM) versus a smaller REPE shop ($3B).
1) I do understand that generally speaking comp potential is higher in REPE, but does that hold true if you're at a Vornado/Prologis/WP Carey?
2) Is job security better in the REPE world?
3) How do those at the top get compensated at REITs? Presumably in REPE you get a cut of promote, is it all stock options and fee sharing at REITs?
KRC, ARE, BXP are probably the three most active West Coast developers.
HPP getting more aggressive as well on development deals
Working at a REIT is a highly underrated career track (especially on this forum). Check out the public comp info on virtually any REIT exec. I also feel like climbing the corporate ladder at a REIT is highly feasible whereas at a REPE it’s more of a crapshoot. Saw this firsthand working at a $10b+ REIT (that I left for personal/family reasons). Almost all of their senior ranks were people that grew up with the company and they were actively looking for the next generation of folks to train up.
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