Do any of you have thoughts on MMCC? It’s often talked about how cutthroat m&m is, but it seems like it’s often referring to IS. Debt brokerage isn’t talked about as much here so wanted to see what you guys thought of MMCC. I have an interview for a loan analyst position. Anyone have any idea on comp?
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Depends on the debt broker but some of the top 10-20 debt brokers at MMCC absolutely kill it. From what I've seen, it looks like the west coast or mid west has some of the stronger debt guys/teams. Comp is variable but if you're coming out of undergrad, I would say expect anywhere from $50-75k base and 20-100% bonus. Again, this is extremely dependent on the debt broker and the area you'll be located at. If you can list out how many transaction volume they've closed in the past year and what city/area they're from, I can give you a better idea of the culture and how well they pay.
Closes about 2 deals a week, Definitely a top 10-20 broker at MMCC. located in major west coast market.
This was years ago, but I worked on a deal where the MMCC was doing the financing, their guy was sharp and seemed as legit/top-tier as those at other big shops, the difference being it was for a smaller deal in a tertiary market. My impression is they finance the same type of deals MM brokers, for the same type of buyers, etc.
I have a general impression that MMCC is more "protected" within the MM organization, meaning they don't just hire tons of people and churn them the way so many of their IS teams are known to do. That is my impression, from a few data points, I cannot speak with direct knowledge from a new hire perspective.
As for earnings..... the producers are straight commissions for sure, MM isn't likely the place to pay salary + bonus to producers of any kinds. So if they close deals, they can make a lot of money (deal sizes are smaller, but fees far less compressed in that world, but clients are probably shakier tbh). A "loan analyst" role could be base + split of commission, with the base coming from the producer directly (may be a pooled model supported by corporate, hard to know). Either way, I'd suspect you some variable pay based on closing and a percentage take; thus difficult to estimate earnings without a lot of details on who/where/what you will work for.
Do not. You won’t be taken very seriously at big shops when you try to leave/market a deal
Producers have a 40k draw they need to repay then they go 100% commission, I don't think the splits were that good either. Not sure about analyst pay as the team I knew didn't have an analyst - more of a closer/analyst lady. The guy I knew definitely did well but at that time a lot of their business came from referrals from other brokers in the office, and they didn't do as much cold calling as the IS guys. Also, most of their business is going to be mom and pop since they didn't have correspondent lender relationships but I think they are making some inroads w/ life co's that operate in that mid-market space.
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