Hello monkeys,
Was recently made an offer by one of the larger LifeCos (Met, Pru, NYLife) to join their real estate lending platform at the associate level.
The base was 90K with a ~35% bonus. I have 4 years of LifeCo lending experience.
My question is is this an appropriate amount or am I underpaid? All-in this is just about ~130K. Honestly I expected a bit more. Does anyone know what it looks like at the VP level?
I tried to check the real estate compensation Google doc but that doesn't specify if someone is a lender with a LifeCo or a bank.
Thanks in advance
If you’re in or near a major metro, you’re probably being underpaid a bit. I’d say try to push base by $10k to $20k and you’d have a competitive comp for four years of experience.
Thanks for the insight. Will ask for 20 and hopefully get 10. Just want to make sure I don't look out of touch when I ask.
Whoops didn’t read your name. I don’t think it’d be an unreasonable ask. Good luck!
As an associate at a LifeCo that’s probably about right. With 4 years of experience, you should be close to senior associate where pay should jump, all in, to $160K to $180K.
At the VP level, first year, you’re probably looking at $225K-$250K.
You really think it’s possible to make Sr Associate that quickly? I heard LifeCo title progression is very slow.
When I was at a lifeco, the progression was slow across all teams.
Would you be working in originations, UW or asset management?
Originations
I was offered ~$130k all in at one of the named Life Cos at the Senior Analyst level a couple of years back.
Generally how many years of experience does it take to get to SR analyst with said firm?
I would have came in with 2 years.
Ok if you're in a secondary market. If you're in a major market, you're underpaid.
Underpaid if LA.
I know of Senior Analysts that were making $125K all-in at one of the aforementioned LifeCos.
Yeah seems to be from this forum that this is quite the low-ball. Damn shame
Hey, you've got ammunition now.
On a side note: absolutely sick of firms serving up borderline insulting offers to experienced RE guys. Its supply/demand I guess, but outside the economics of it all, one would expect RE investment shops to be smart enough to know that a happy/content employee is a good one. Happiness doesn't start and end with money but it's a damn good place to start. Top dollar attracts top quality. And don't tell me "oh starwood, carlyle and bs pay top dollar" big whoop. We are all making enough money to pay a 4-year associate what he deserves.
SHAME
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