Highest Paying REPE Firms for Juniors
Anyone know what the highest paying REPE firms are for an associate or VP/principal type position? I understand that there's a lot of vol in comp when it comes to real estate, since firms don't move in general lockstep like law/banking.
Obviously the higher comp will come from the PERE50, but wondering whether there's any outlier on the high side among those (a centerview or wachtell lipton equivalent for real estate). I'm guessing the high employee count, core-type strategies will pay less (lasalle, clarion, etc). Which ones pay more? (other than BX) And what headhunter(s) do they use?
Thanks, as I'm not entirely content with my situation/pay and would like to make a move soon. Tried doing a search but didn't have any luck finding an answer. Thanks in advance.
Wondering as well
In my experience sometimes you can earn more as a VP for REPE shops between 5-10B under management because you might get the chance to be a key guy or fund manager and take home a bigger cut of the carry. If you're on a MF with a couple of VPs on each fund, and MDs even above them, you're probably splitting the dough more ways. Only thing I have to add, at the junior level the MFs definitely pay a lot more. Carlyle Associates are around 200K and a friend of a friend claims to be making 90K base with close to 100% max bonus at Starwood as a first year Analyst. That data point sounds very inflated tbh but I think the 90K base is accurate, using WSO data as a point of reference.
First-Year Associates at OCM are bringing in at least $100K + 100% Bonus.
The firms that will pay the most are the (i) opportunistic managers and (ii) firms who started out as private equity/distressed investors. If there is overlap between the two, even better.
Opportunistic Firms with high AUM / Employee Ratios. Without speaking directly to VP/MD level employees, it's hard to get an idea of how many points each individual gets into a fund.
agreed, that's why people often make the move from REPE firms to HFs' RE strategies, some of which run $1B+ but are staffed w 5 guys
Can you elaborate on HF RE strategies. Never heard of the field but seems interesting.
Also interested. To my knowledge direct RE investing Hedge Fund positions are few and far between. A friend had told me that Ock Ziff was ramping up, but they're the only ones I've heard hiring in the HF realm.
I suppose direct RE investment is a part of a larger strategy? Pay?
I'd posted on this subject a bit ago. The KKR's and Carlyle's of the world pay far above what I perceive to be market and tend to recruit based on school prestige. A very dumb practice for RE if I may say so myself.
there was a thread a while back with a list, i'll see if i can find it. off the top of my head, hfs that have dedicated re teams: oz which thatguyballs mentioned, dk, baupst, fir tree, york, elliott, gsssg (there was a thread recently about their real asset area)--basically your usual set of opportunistic multistrat investors. not an expert by any means, but my point was i'm guessing the above all have higher aum/head than your average pere50 firm and therefore comp would be more desirable. if anyone has more info, pls do share
bmp
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