Compensation Estimate of a Vice-President at a Top REIT?

I've looked through the RE Finance Compensation thread, but I can't find a single data-point for anyone above an Associate. Gotta believe there's a reason these guys aren't letting us amateurs know how much they pull in. All-in, what do you think a VP at a top REIT or solid REPE in a major market is grossing in salary, bonus, equity and carry?

Comments (18)

 
2/21/18

VPs at REITS make around IB associate pay

Learn More

Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

 
2/22/18

All-in, I would guess approx. $250-300K based on experience working at a big REIT and knowing general comp structure. Probably comprised of 50-65% base salary, 20-30% bonus, 5-20% deal level bonus, 5-20% stock award. Lower level execs are much higher in the low millions annualized.

 
2/22/18

so basically they get paid about half of what a VP in REPE would make....

 
2/22/18

I'm coming from RE PE so may differ but in my experience VP's hang on longer so it's tenure dependent. However Ricky Rosay is about right, will be around 150 - 200 base with another 100 - 200 in incentives / bonus'.

 
2/22/18

so I was mistaken? VP pay at a REIT vs REPE is roughly the same?

 
2/22/18

Entirely return dependent, down years comparable up years and with a bit of tenure would break out further but not double.

 
2/22/18

Makes sense, REITs generally return 25%-50% less IRR than an opportunistic REPE fund. Of course, in a down market, you better be with the right REPE fund to weather the storm. The REIT guys have better job security in those instances.

 
2/22/18

Sorta depends, VP is a broad demographic in Real Estate. A recently promoted AVP at my firm, with 6 years experience, is probably near 225K but some of the veteran SVPs have significant equity and probably cruise past 500K easily in a good year. This is for opportunistic REPE though.

 
2/22/18

Everyone here is making wild guesses lol. Certain VPs at various reits won't pull more than 200k. Where is the data to support these numbers? Outside of maybe SL green realty I don't see VP pulling 300k

 
2/22/18

I'm specifically asking about companies like SL Green, W.P Carry, Vornado, or REPE shops with a couple billion AUM. I don't care about random REITs in smaller cities with less than a two-dozen properties under management total.

 
2/25/18

Like you'll ever get a job at one of the above you hack.

 
2/22/18

Haha!! Thank you. SB for making me laugh.

As a side note, I truly believe this comp set is low, esp for NYC REPE. I know a lot of people in NYC REPE acquisitions making $400K+ (excluding carry for the ones that get it) and they aren't managing directors. They have 7-8 years out of UG experience.

 
2/22/18

400K at 30 years old isn't bad.. lol

Do they have IB experience I am assuming?

 
2/22/18

400K at 30 years old not bad at all. Do they have IB experience?

 
2/22/18

1-Click to Unlock All Comments - 100% FREE

Why do I need to be signed in?
WSO is a knowledge-sharing community that depends on everyone being able to pitch in when they know something.
+ Bonus: 6 Free Financial Modeling Lessons with 1-Click Signup ($199 value)