Just finished my final round interview with one of the bigger developers in U.S. for an analyst role (think JDS, Tishman, Related)
Was basically told I should be expected to work 7 days week. I’m all for working hard but it’s an analyst role. What do you think I should expect for starting salary given that work expectation? What would the potential bonus structure be?
Definitely want to get my foot in the door but don’t want to get paid peanuts. Any thoughts?
| +51 | Major Decisions | 8 | 2h | |
| +31 | Yes Another Comp Thread | 29 | 4h | |
| +29 | LP coming into deal at higher land basis. How to model returns to GP? | 10 | 6h | |
| +28 | Niche down to an operator or stay an allocator | 9 | 9h | |
| +24 | Target Return for Spec SFR Development? | 8 | 2d | |
| +24 | Breaking into CRE late 20s | 7 | 1d | |
| +20 | Doom Loop or Creative Urban Reemergence? | 3 | 3d | |
| +19 | Self Storage ECRI | 9 | 31m | |
| +18 | 3 Hour Condo/Rental Excel Test - What Can Be Expected | 2 | 1d | |
| +17 | What do you RE folks think? | 7 | 5d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
What market? or type of market, can make a big difference
What's your experience level? For context, my roommate just got an analyst offer doing multifamily debt brokerage at an $85k base with 3 years exp. Bonus 60-80%.
Also, OP should add whether coming out of UG or grad school or other firm type, etc.
Like said above 5 years of experience after graduate school in development focused on multifamily. No real estate experience before graduate school. I’m a development manager now but don’t mind the lower title change given reputation of firm, brand name, long term pay, and exit opportunities.
Graduated degree with about 5 years of experience in development.
Assuming a top grad program and if this is Related in NYC. Base salary of $150k. Not sure on bonus.
Know someone who interviewed and discussed salary with executive.
So you are essentially jumping downward in title but upward in firm/project type? Given the years of exp, post grad, in the field, I would at least aim for an associate title and comp package, that is not a stretch. I don't think its so crazy if the firms are that far apart (I mean, I think people have joined my firm with similar title swap from small local firms).
If this is top major market, I'd say base of $100-120k is reasonable, with exp higher being recognized (note, I am basing more off of associate, analyst like out of grad no real dev exp, maybe down to $70-80k base). Bonus can be really all over the place, like range from 10-50% (most likely 10-30%). At analyst/associate at major firm, don't expect much long-term comp, most likely to make development manager or even director to get into those pools.
Your situation is unique, so I think the reasonable range could be pretty wide. Just not sure how they will view/assess your background.
I also second this, OP. On the surface, our experience level seems rather similar. Going from DM to Associate isn't that big of a deal given how meaningless real estate titles can be across companies, but dropping to Analyst seems inherently off. I can only imagine the level of one's responsibility dropping dramatically and that being a strange adjustment.
Then again, with how hiring has been this year, perhaps people with 5 years of experience and a grad degree are gunning for top Analyst roles.
Agree completely. This year has been weird for hiring. The typical mid level titles have just not been there at all this year in development. So just doing what I have to do.
That essentially what I’m doing. Bigger company and more exposure to multiple asset classes. The company I work for now is one of the bigger affordable housing developers but trying to transition into mixed used in hopes of trying to ride the next economic cycle in year or two. Thanks for the input!
Temporibus magni atque dolorum expedita. Provident aut vel nemo natus culpa. Repellendus sed dolor error iusto iure.
Nesciunt quia assumenda voluptate. Odio explicabo reiciendis necessitatibus molestiae hic. Sequi blanditiis id nihil adipisci architecto.
At fuga illum vero quaerat corporis. Voluptates id esse ducimus ratione. Rerum rerum optio impedit sed suscipit autem tempore. Provident quia ut vitae ut sed.
Sapiente molestiae voluptas quaerat iste nihil. Numquam nobis quaerat architecto magni deleniti. Dicta aut quia nam expedita cum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...