Help Deciding On Job Offer
Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.
Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.Deleted.
+80 | LP coming into deal at higher land basis. How to model returns to GP? | 18 | 22m | |
+72 | Major Decisions | 13 | 20h | |
+65 | Increasing RE Industry's Cash Compensation, Collectively | 43 | 3s | |
+28 | Niche down to an operator or stay an allocator | 9 | 2d | |
+24 | Breaking into CRE late 20s | 7 | 3d | |
+22 | Self Storage ECRI | 9 | 2d | |
+20 | Doom Loop or Creative Urban Reemergence? | 3 | 5d | |
+20 | Thoughts on joining an early-stage REPE fund | 6 | 14h | |
+18 | How to get good at RE Modelling? | 14 | 1d | |
+18 | 3 Hour Condo/Rental Excel Test - What Can Be Expected | 2 | 3d |
Career Resources
Take it and re-evaluate how you feel in a year, while continuing to research the pay for similar roles.
A bird in hand is with two in the bush.
That is a bit lower than market. Real estate commercial banking in TO should get you $60-65k base fresh out of school, plus $5-10k bonus. It would also ramp decently in the first 4-5 years, getting you to low/mid $100k range.
Here are my thoughts, work life balance shouldn't mean anything the first 2-5 years of your working life. If you are working 40 hours a week at 22, you are not learning anything.
55k for a year-1 offer is fine if not a little low.
If I were you I would ask for a 5k bump plus 10% bonus. Having raised 100-300mm of equity it looks like you are in a good place to be. If they do not go for the increase in comp, you can always ask how the position scales, as in how long does it take to get to associate, sr analyst etc.
I know a handful of folks that have hired recently in Toronto for junior talent. Like many places it's incredibly competitive and top shops are paying ~$125k all-in for AN1 (think Brookfield, Cadillac, Kingsett). Hours are likely ~60 (80+ during busy periods). Great deal reps and experience working with high qual investment folks. Even smaller shops are having to get up to ~90-100k to get the talent they want.
Ask yourself, if the family office is offering up such a limited comp level, is it because they don't yet trust your talents, or because they want to keep most/all of the pie to themselves? Bonus is absolutely the norm in this industry and very odd they wouldn't reference it. For taking a role in a small shop, with likely limited upside (keep things in the family), on a $100-300MM fund -- huge range btw -- they should compensate you at street level.
DMs open if you want to chat but go get the $$ you deserve. Unlikely to bridge a gap from $55 to $100k, so agree with the poster that said take the job (maybe aim to get them up to $70k) then hunt around.
Eos soluta eos eos est est nesciunt. Asperiores quis nisi porro in autem. Voluptas placeat est officia consequatur necessitatibus.
Minus deserunt et vel accusamus qui. Qui tempore quia sed similique voluptatem modi.
Eveniet sit veniam consequatur nam voluptatem. Iure earum perspiciatis ullam.
Possimus illum et non. Debitis rerum dolor ducimus quae. Voluptatem earum incidunt omnis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...