Debt and Equity Brokerage Analyst Compensation
Hi all,
I saw a couple posts on compensation for analyst positions in debt/equity teams, but the numbers seem to be all over the place. I'm pretty far into recruiting for several firms and I would love to get some of you insights on what I can expect for comp/ base salary. For reference I'm interviewing in a HCOL gateway city on the west coast and I'm coming in with one year of non-real estate professional experience. The teams are all high performing and currently have allegedly record setting deal flow. Would 70-80k base range be reasonable to expect?
Many thanks!
That seems reasonable to me as a starting base
Following. I literally see some posts quoting “I’m at a major brokerage and took home $180k as a first year analyst. This is very common.” Meanwhile the CRE comp spreadsheet on this thread lists many instances of D/E analysts making $60k + 10% bonus.
The main conclusion I’ve come to is that it’s team and market dependent, but holy shit is that gap wide lol. Same exact gig can make over 2.5x simply by being on a different team in a different market.
Someone let me know if I’m wildly off base in this observation.
It’s been said, but is very true, it’s highly team dependent. For example, via the legacy HFF model, analyst on D/E teams at JLL are eligible to share in the analyst bonus pool, where basically 4% of all gross commissions from the team go to year end analyst bonuses. If your team has a record year, then that could be very very good for your year end bonus. I think some teams are structured similarly for other shops like Eastdil/CBRE/Cushman, etc.
Ahh. So when people quote, $60k base + x% bonus, they’re doing the math on what they’re bonus was? Vs it being a fixed yearly %
Basically if you see/hear a new-ish D/E analyst saying “I took home $150k-$200k my first/second year” that just means that they worked their ass off and their team did well and they received a massive bonus. None of those guys have a super strong base.
This is true, i work in d/e brokerage at one of those firms. I know that JLL uses the HFF model, but from my understanding from people I know there the analyst that is on the deal receives 3% gross of the total fee and if two or more are on that transaction then it is split accordingly. 1% gross, like you mentioned of every deal gets thrown into a bonus pool that is paid out semi annually.
Definitely if you’re in a good office you can hit some good numbers in your first year or so. I think the main thing is how quick you pick it up and how soon the deals start going to you.
Offer came out to about 75k + Bonus, and it looks like the deal flow this year is insane across all major RE markets. It's about in line with my expectations and I'm expecting to work my ass off. The producers are real gunners and go through deals like BB IBD go through analysts. I'm most likely going to spend all my base on living expenses and bank the bonus EOY.
Congrats champ. Crush it
Congrats! Any advice for someone who is looking to make a transition to D/E analyst from outside the industry? I started at a quant finance shop right out of college, almost 1.5-2 years in now (2020 grad). Really looking to make the switch after talking to some analysts and associates (JLL / C&W).
Definitely, it's a relationship based business so just network as hard as you can. Having a quant background will also help, they definitely appreciate an analytical background, at least depending on the shop. Don't expect RE to pay as much as a quant job though at least for the first couple years
In a major HCOL gateway market on the East Coast. Institutional team. $85k base + 100% bonus potential.
I’ve met with or spoken to a lot of the institutional teams in my market, and in other markets across the country (SF/LA/CHI/NYC).
It feels like a lot of the institutional teams are in the range of $150k-$175k (analyst 1-3) and you’re in the low to mid 200k as an associate. Be prepared to sweat you’re on the desk 24/7. Enjoy the ride.
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