Big Multifamily Shop analyst salary

Hey all,

Would be curious to know what a development analyst working at a shop like Mill Creek, Greystar, Alliance, Wood Partners, and TCR would make coming out of school.

Focusing more on 1st year salary and am currently looking at positions at some of these firms.

Any help would be appreciated.

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Comments (14)

Most Helpful
  • Developer in RE - Comm
Apr 14, 2021 - 2:53pm

VP here at a firm that backs those dev shops. Big northeast cities, we're comping 1st year analysts 70-90K base + 50% bonus. If you're straight out of UG, you'll be closer to the lower end of that range. At our shop, we keep people around by bumping their base 10-15% each year and give them higher % bonus. By the time you make Associates (2-4 year for most folks), your bonus will be closer to 100% of your base salary. 

I would expect all those developers to pay their dev/acq analysts somewhat comparable. 

Take a 10-15% cut to all these numbers if this is for a TX/Sun Belt city. 

  • Prospect in RE - Comm
Apr 14, 2021 - 10:07pm

Damn 50% for an entry level dev analyst? Not saying that's wrong (you clearly have first hand experience), but I'm surprised it's that high 

Dev analysts I know in my NE market make that base with closer to a 25% bonus.  But maybe that's bc they're regional (but still large/respected) shops. 

  • Developer in RE - Comm
Apr 15, 2021 - 2:06pm

May be I wasn't clear. My shop is the LP that backs those developers (ie. "REPE" in WSO terms...) so our bonus % might be higher than a pure development shop due to higher volume going on at our firm. If you're at a Hanover/Greystar/MillCreek/WP in an active market that has 3-5 deals going on at the same time in any given year, I'm sure 50% is a reasonable compensation for someone straight out of school. 

Chump change at the end of the day with that type of pipeline, and is needed if you're looking to lure in IB-type kids.

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  • Intern in RE - Comm
Apr 21, 2021 - 3:57pm

1st year at one of those firms in a southeast office. Base is 65k and bonus of up to 15%.  

Apr 22, 2021 - 8:58am

Agree with the above poster. I was 65k with 10k bonus. I got another offer for a healthcare analyst role that was 60k and 20% discretionary bonus. The fact that it was bolded " discretionary" in the offer letter made me very leery about it, although I know all bonuses are typically discretionary. My last year at my firm I only got 50% bonus but we didn't do a single deal in 2020 so I sort of understood. 

Sep 14, 2021 - 10:45pm

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