Commercial Real Estate Development Career Path and Comp

vans07's picture
Rank: Senior Monkey | 70

I don't see a lot about real estate development on here and the career paths that you can take as well as the pay offered at each stage. From what I've read the most money can be made in development. Also for those who chose development why did you do so over brokerage/acqusitions? Can someone expand on this?

Comments (12)

Jul 1, 2019

(deleted)

Array

Most Helpful
Jul 2, 2019
ttlyt_1:

I don't see a lot about real estate development on here and the career paths that you can take as well as the pay offered at each stage. From what I've read the most money can be made in development.

Maybe. Could also lose the most money. It's not advisable to pick a career path in real estate based on what you think could theoretically make the most money. You can make shit tons of cash in most end-level roles in this industry if you are talented enough and lucky enough to get there. It is much more important to pick something that fits your interests and skillset in order to maximize your ability.

ttlyt_1:

Also for those who chose development why did you do so over brokerage/acqusitions? Can someone expand on this?

I am a development manager. I find the development process incredibly interesting, love the variety of tasks I touch day to day (construction, architecture, interior design, finance, politics, sales, etc.), and on some level, care far more about building monuments than someone who sees projects purely as vehicles for returns or is more interested in deals, deals, deals and the constant chase. Development to be is the perfect combination of analytical and creative and forces me to use my hard and soft skills accordingly. I also appreciate the ability to be an entrepreneur at some point in the next 5-10 years and use what I've learned to make a lot of money.

    • 5
Jul 2, 2019

how does commission work in development since it isn't the constant chasing of deals like you mentioned.

Array

Jul 2, 2019

There is no commission. Only in brokerage.

Development jobs are salary + bonus. Sometimes you can get carry/ promote if you are senior/ great negotiator/ otherwise a BSD. That is explained better in other forums than I will delve into here.

    • 2
Jul 2, 2019

you stink

    • 2
    • 2
Jul 2, 2019

bruh

Hate to be that guy, but use the search feature ("wall street oasis + topic" on Google is even more useful). In the past 4 weeks you've started comp threads on investment sales (x 4), acquisitions, and development, all of which have been discussed many times.

    • 2
Jul 2, 2019

the search feature just doesnt work well on the website but i havent tried google thanks

Array

Jul 2, 2019

Dude, every single one of your posts is about compensation. Yes, money is important, but you aren't going to make good money in ANY of these fields if you're not passionate about what you're going to be doing.

    • 1
Funniest
Jul 2, 2019
Comment
    • 15