Carlyle Real Estate Associate Compensation

Does anyone have an recent comp data for Carlyle RE? Also, what are the hours typically like? Thanks in advance!

Comments (47)

Jan 15, 2018

Not sure if I trust the data on WSO for Carlyle. The one real estate salary says 100k base 100k bonus for associate in San Francisco office. Seems very high and I don't think they have a real estate team in san fran. One other data point was for 2nd year corporate PE analyst in nyc (95 base and 70 bonus) which I thought might be a more realistic for a real estate associate.

Can I ask how you got the interview?

Jan 15, 2018

No interview at this time. Just have heard a wide ranging opinions on both topics.

Jan 16, 2018

actually the numbers for RE are correct, but they're not high, they're a bit on the low side for a top firm.

Best Response
Jan 16, 2018

Which firms are paying well over 200k for a RE associate 2-3 years out of college?

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Oct 2, 2018

I see this the most with PE shops, definitely not uncommon for Associates to clear 200k+ all-in

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Oct 2, 2018

Sure but I was thinking more of specific firms. I wouldn't be surprised of blackstone and Starwood pay their re associates 200k plus, but it's certainly not commonplace given how many small and medium size REPE firms there are compared to the number of large, elite firms

Oct 9, 2018

There are a substantial amount of small and midsize firms paying in that arena, in addition to the big names.

You are correct in that many Associates barely clear 100k all in. We have to take in consideration all of the factors though, as well as the hard truth - for every b player, there's a b shop.

Jan 16, 2018

It is definitely $100k salary with a bonus that can be 100% of salary. I talked with a headhunter about a position there mid 2017. I'd say I've seen higher salaries.

Oct 2, 2018

I can confirm this, I am a headhunter. The 100k base salary is non-negotiable for an Associate (Asset Management team based in NY)

Oct 2, 2018

@clarkstreet can you discuss other REPE compensation data you might have? I would be interested in having something to compare to. Thanks!

Oct 2, 2018

Happy to - What would you like to gain more insight on in terms of benchmarks? Feel free to shoot me a message

Jan 16, 2018

I was invited to interview for Carlyle RE AM team in NYC and headhunter told me their target comp was $100k + 60% for year 1. So what you hear is true. I would guess acquisitions is $100 + 100% then. This was last month btw, so recent data point.

Oct 9, 2018

This is correct

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Jan 16, 2018

Carlyle pays below market for a top firm. As was previously mentioned, it's around 100k + 100k for an associate. It's a tough shop for junior guys. Too many mid levelers and not easy to move up. Plus they assume you'll work there for the resume brand (which you generally will) so they don't pay what they could. IMO it's still worth it to put in your two years but its not ideal.

Jan 16, 2018

I was told all of the following by the recruiter who has placed for the team for years, including most of the current staff there (senior level folks included). On the acquisitions side, it's basically 2 and out for associates. AM is different in that you are not on a timeline like that, and they actually prefer to grow the AM team from within. Some AM folks switch over to acquisitions internally. The teams work together closely, but there is a divide, so don't expect to be doing much acquisitions work on the AM team, more just supporting acquisitions on diligence and underwriting when needed.

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Jan 16, 2018

Yeah, agree with all of what the above posters are saying. For a lot of the big funds, it's a 2 year then up/out program. They pay you a little bit more than some of the other shops which are lower stress/higher chance of direct promote to make it more attractive in the short term.

Jan 16, 2018

Thanks for the feedback everyone. Seems like $100K + $100K is the norm for them. Any idea regarding the hours? I would assume 60ish but have no idea.

Jan 17, 2018
Ufgator10:

Thanks for the feedback everyone. Seems like $100K + $100K is the norm for them. Any idea regarding the hours? I would assume 60ish but have no idea.

Interesting, was 90+90 maybe 2-3 years ago. Hours above 60 for sure

Jan 18, 2018

Thanks, Kmzz. I should clarify that I would assume that 60 is the average...obviously when there is a live deal the hours will be much higher. Just my guess though.

Would love to hear from anyone with first-hand knowledge.

Jan 22, 2018

BUMP

Jan 17, 2018

Hey guys- was interested in finding out where you find these headhunters or recruiters. I have been looking around but was not able to locate anyone to help my job search. Thanks

    • 1
Jan 17, 2018

In my experience, the recruiters will reach out to you on linkedin for positions like these. If I were looking, I would strongly consider investing in premium.

    • 1
Jan 18, 2018

Get the premium gold badge, well worth your while...move now before LinkedIn turns into a black hole!

Jan 18, 2018

@ecander14 @Swimtexan

Do yall have any idea what recruiters generally search to find candidates via LinkedIn? Is it worth it to add skills to your profile?

Jan 18, 2018

Adding skills is a worthless exercise to be rather blunt, focus on tailoring your work history to be favorable to search terms and make sure you profile is as fully populated with information.

If you have worked with a reputable brand or have relevant experience you will be found. The recruiter accounts on LinkedIn have robust filters to narrow the scope to identify potential candidates -- ie "ABC school grads who have worked at X company and have keyword Y"

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Jan 18, 2018

Word, I really appreciate it man. If you don't mind me asking one more question - do you normally reach out to recruiters, or in your experience is it more appropriate to wait until they contact you?

Jan 18, 2018

It's hit or miss. When I was searching for a position I had very little success with direct communication with recruiters.

The highest and best use of your time would be to find someone within the organization, anyone that you can relate to (school, hobby, etc), who can give you a soft introduction. Greasing the skids will get things done. None of the good jobs are advertised ;)

    • 2
Jan 25, 2018

I know they use RETS associates. I interviewed with the AM group in DC and the pay was $130K all in.

Jan 25, 2018

This is correct, though for NYC they promised $160k for AM.

May 30, 2018

bump...any insight on their investor relations comp NYC market?

Jun 11, 2018

Bump has anybody ever been reached out to from a HH at Glocap regarding associate roles here?

Jun 12, 2018

Carlyle's bay area office is in the East Bay.. forget where exactly.

Good buddy of mine was a 3rd yr associate making north of 220k. They pay extremely well, but I've heard the culture is not the best.

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Jun 20, 2018

Bump would appreciate any further anecdotes on culture / hours.

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Oct 9, 2018

They will tell you themselves this group is "intense" - at this level though, you're in the wrong space if work life balance is a main priority

Oct 10, 2018

Gonna have to disagree with you there chief. I would say the Carlyles of the world are the exception rather than the rule in REPE and that 50-70 hours is much more typical than 70-90 in this space.

Strangely enough though the acquisitions team I interviewed for was all guys from local development/PE shops, and there were a handful of people from even weirder backgrounds like homebuilders or appraisal shops. Far cry from the team of ex-bankers you'd expect to be running around an "intense" shop, which is what made it so hard to get a read on the culture here in DC.

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Oct 15, 2018

@clarkstreet average hour range for NY AM team in particular?

Jun 21, 2018

1st year associate was 120 base up to 200-220k w/ bonus last I head

Jun 22, 2018

Does Carlyle hire out of MBA? Worked as a GC and Developer, and going back to school to pivot to the finance side. REPE seems more lucrative than development, but I may be wrong.

Jun 22, 2018

REPE has a higher floor but a lower ceiling. Whereas development has very large variance but the upside is significantly better than REPE. Still, Development (for your own shop) can carry a ton more risk than REPE if you're on the hook for guarantees, etc.

Jun 22, 2018

Yes, in fact from my experience they barely look at you unless you have an MBA from top tier. Is it possible? Sure. Not as likely though so MBA won't hurt.

Jun 25, 2018

Headhunter at Rets quoted me $100K and $100K

Jun 25, 2018

Why didn't you take it Flacco?!

    • 1
Oct 1, 2018

Is the consensus still $100K and $100k?

Also, does anyone know what the model test looks like for an interview here?

Thanks.

Oct 10, 2018

I've heard the modeling test is fairly straightforward (resi or simple office lease). Time limit is 2 or 3 hours.

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Oct 25, 2018
Oct 25, 2018