I have an interview in the Capital Markets Group at CBRE for their 10 week summer analyst program in RE IB. I was wondering how much the program pays seeing how I'll need to rent an apartment. It is safe to say it pays BB summer analyst money, I really doubt this seeing how CBRE is not even in the same league.
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According to glassdoor they pay $11 an hour.... http://www.glassdoor.com/Intern-Salary/CB-Richard-Ellis-Internship-Sala…
I'd have to guess it's more than 11 but as you suspected, less than a BB SA's pay. CBRE's a huge company that takes a lot of interns in different locations and departments, so that data point probably has salaries blended in from other types of interns.
Your goal should be gaining the right type of experience anyways. Doing an internship at CBRE will paint a drastically different picture in FT recruiting than a BB IBD SA's pay. Figure out which is most aligned to what you want to do, the intern pay is a drop in the bucket compared to what you're going to make over the course of your career.
Best company ever?
FYI, a position with CBRE capital markets isn't really "investment banking," even though they might call it that. CBRE Capital Markets does investment sales, and mortgage banking, i.e. debt & equity placement on individual real estate assets or portfolios. More of a real estate job than a finance job.
Not even close to BB SA
I'm currently an appraisal intern at CBRE. I'm making $11/hr for 45 hrs/ week but paying no tax as I'm a contractual worker, so you're looking at $500/week.
Probably depends on your location and the specific group, but CBRE will pay nowhere near BB SA. The transactions in a Capital Markets group at a large brokerage house generally won't be similar too similar to what you would do in IB (i.e. asset level D&E financing at the brokerage vs. Public Debt and Equity Raising for REITS and some M&A at the IB). CBRE Capital Markets is a great place to start off a career in real estate and would have exit opps into REPE shops; however, don't expect pay to be anywhere near that of an IB analyst.
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