Responses/Submissions can be viewed here: CRE Comp Data
You can add new information here: CRE Comp Submissions
Prior data has been uploaded, and mostly formatted. Form responses automatically are sent to the Google Doc. There are two (2) tabs - formatted, and unformatted. Sheets are locked. If you'd like to further analyze, please copy and paste into your own spreadsheet.
If you think there should be any additions/modifications, please respond. Hope this helps.
| +45 | latest on Shorenstein? | 10 | 2h |
| +20 | Probability of S2 recap returning equity | 9 | 2d |
| +20 | To the veterans: What was institutional dev actually like during the last bull run? | 8 | 2d |
| +16 | Development vs. REPE pay gap | 8 | 3d |
| +15 | PGIM Real Estate Equity Opinions? | 10 | 23h |
| +14 | How do I break into a family office role | 3 | 1d |
| +12 | MBA Pipelines for REPE | 10 | 1d |
| +12 | Reneging - What should I do? | 5 | 3d |
| +12 | Opportunistic Equity Acquisition Associate Role - Middle Market REPE | 1 | 1d |
| +11 | PRE MBA IB back to IB | 5 | 4d |
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Analyzing the data for my market, all I can say is... disappointing...
This one makes me sad - wildly underpaid, if it's a true Associate role:
Title: Associate
Market: DFW
Area of Focus: Acquisitions & Development
Experience: 3 years of experience
Salary: $75,000
Bonus: $5k bonus
I know I'm late on the reply, but what in the world is that bonus? $5k? That's a 1 year out of undergrad bonus...
In the submission form, could you make some of the items (like city, markets, shop type, etc.) a dropdown list of options? Would make it way easier to sort through the results that way if they aren't all different ways of saying the same things
Also add a Total Comp field?
Thanks for both suggestions. On the first, for the dropdown, Google Forms does not allow for an "Other, please specify" option when using their dropdown, which would limit the entries. If we tried to include all possible markets, it'd be too much to sift through, imo, as the dropdown selection does not have an autocomplete option.
As for the second, regarding Total Comp column, I intentionally removed this piece as it felt redundant and I ran into a few issues with the data. The "Total Comp" column seemed to be more beneficial for trying to understand promote/carry value. What does the group think about adding in a column like "Promote/Carry Value (average)"?
Bump
I made a similar, albeit less efforted, post with a revised comp sheet a few months back that has a couple dozen additional data points you may want to include in this update. Kudos to you for taking the reigns on this!
https://www.wallstreetoasis.com/forums/revised-real-estate-comp-google-…
Thanks @CREw1 - I'll check out your sheet. Wanted to try and help limit any issues of people changing comps of others in any given market.
Thanks for reviving this - I thought it was great information that should be shared.
And also, I'm really underpaid.
That's how I felt when I first found the original "What's your compensation in RE Finance" forum on here...
.
how about adding hours?
Good call. Added in an option for that on the form, and it updates to the Google sheet now. Past entries didn’t have it on prior Google sheet... thought it did, but couldn’t find it. You recall if the original Google doc had it?
I don't think it did - not 100% sure though
I want to add a comment.
Who THE FUCK is making what the Rhodes 2016 Salary Comp says!!!
I’m serious, associates making 350k at a sub $2B firm.
A VP of dev at my last firm was making 225 base with like 30% bonus. 10+ years experience.
Their dad owns the company. Gave them an “Associate” title to keep em grounded.
I mean, you're right, but a WHOLE comp set can't be this right?
Dev pays less ..
My firm is in SF, but we are a small startup-esque type fund as the founders are all coming from VC/FAANG so we are fully remote until we can't sustain the amount of people we have, so I live a VLCOL area. I was really surprised that west coast pay isn't that high. Unless you're working for a MF, I feel like it's almost lower than market comp due to the HCOL. That makes me nervous that if I have to move to SF I wouldn't receive a pay bump.
I also may be headed to SF from a city that isn't quite NYC expensive (Chicago, D.C., etc). What do you think would be an appropriate upgrade in pay to make up for the CoL at the analyst level?
It's tough to say, RE pay is so variable depending on the firm. When I interviewed for experienced analyst positions I was seeing mostly $125k - $150k. The problem for me was that I was offered pretty much the same pay to live in the southeast where I pay much lower taxes and can afford a home.
I've worked in SF for the last couple of years, and I've noticed this too. Pay in SF is not aggressive at all. Like you mention the MFs are really the only ones paying analysts and associates good, but this isn't NY where you have big shops at every corner. All other shops, comp could be all over the place because California is one of the states for the highest cost of doing business . LA is slightly better in my opinion just because money has the potential to go a bit further, the area is more heavily populated and the economy is better diversified. No clue on the other cities on the coast (Seattle, San Diego, Portland), but I don't think really offer a whole lot either.
These data points are all over the place, evening factoring market and years of experience. Not questioning their validity, but it's a sad place to be in right now :/
bump to keep this up top
We've hit 50 new responses since this 3rd (or is it the 4th) revision. Let's keep 'em coming!
Bump. 55 new additions total.
Am adding in the data points from the What is your Compensation in Real Estate Finance? sub, that CRE had previously mentioned in another one of these Google Sheet forums. So far, only have added 10 entries from that sub, but will add more as time permits.
Bump. 64 Responses since the updates version
AndyLouis WallStreetOasis.com can we pin this to the top of the RE forum?
I don't think they like posts like this because it competes with their salary data platform. Best bet is to keep bumping it periodically
Bump
Bump and thanks for doing this!
Thanks! Hopefully we can keep it around for a long time with minimal/no oversight required.
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Not sure about anyone else, but these comp to hours are not overly exciting... honestly a little depressing actually.
Agreed. Makes me want to go work in finance at an F500 and be off work by 4PM for 2% less pay
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We have 116 new entries since the new version of the document has been in circulation. On top of 613 entries from prior versions. Have only input 10 from the "Whats your Compensation in Real Estate Finance?" sub, but will add more down the road when work gets less busy.
bump
Wow, lot of these Associates/ VPs making bonuses that are TBD !! .. 'Too Big to Disclose?
Speaking for myself it's because there isn't a target bonus %, totally depends on what we buy / sell that year.
Bump.
Lol, I know. was a joke mate... Calm your porkbellies!
Is there a structure that you get a certain percentage of dev fees acquisition fees? Or is it purely up to the owner? I've had a few companies provide offers that are nondescript when it comes to bonuses, and I pass if they won't commit to a certain structure. Curious to hear your experience.
bump
Bump
Bump
bump - any promotions/raises to add in here?
As someone vying for a role in a Canadian pension fund's REPE team, these salaries are looking disappointing compared to the cost of living.
Have you been chatting with recruiters, interviewing, or even landed a job at a Canadian pension fund's REPE team? Would be interested to see what updated base/bonus you've seen recently
Bump
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