Comments (14)

Sep 3, 2019

NJ or SF office? Or other?

I've had friends pass through there...

Pay is competitive for sure. a 2nd year was making about $120K in SF. Unsure what starting is.

Hours are long from what I've heard. Especially on the Acq side. Think 60 minimum, probably closer to 65.

With PGIM on the rezy your exit opps will be strong. You'll likely be able to get a role in whatever discipline you'd like with appropriate networking.

Yes there is travel.

If I am not mistaken you'll be doing both debt and equity deals as part of the investment analyst program? I may be mistaken or the program mayve changed recently..

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Sep 3, 2019

NJ

Nope, you're either debt or equity. im equally interested in both so im unsure what to put as my first preference. And is the 120k for year two of the three-year program? any clue what the base was?

Sep 3, 2019

I don't recall exactly. I think around $95-100

Sep 6, 2019

NJ is either Newark (REF) where there are no originators, or Madison (RE). REF only does Core and some Core+ debt regardless of property type, though the obvious choices are Industrial and MF. Nothing crazy - no bridge, mezzanine, value add. RE is the equity side. They have a bunch of funds. They are more likely to do mezz/value add, etc.

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Sep 3, 2019

I believe total comp is ~$75k starting (in southern markets at least)

You'll be working 50 hours plus or minus 10 depending on the week.

Don't expect to travel except for the annual analyst trip to Dallas, or if one office is lacking analysts they'll forcibly move you there.

Prudential is as exciting as their name gives away, it doesn't help that it's on the debt side either, but it's got decent exit opps to REPE and development. Most people leave after the first year, you should too

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Sep 4, 2019

I believe the debt team pays less and the exit ops are worse. PGIM REF focus primarily on multi family and senior housing. They have a debt fund but I think that falls under PGIM Real Estate (the private equity side of prudential) whereas PGIM REF invests their balance sheet

Sep 4, 2019

Compensation is the same between the two. PGIM REF does do a lot of seniors and MF, but also a lot of industrial and a decent amount of office (with a small amount invested in retail/hotels/alternatives). The debt fund is jointly run by PGIM REF and PGIM RE, though REF is currently getting swallowed up by RE to make one real estate platform for investors.

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Sep 4, 2019

My experience was in a Southeast regional office so my bad for providing some incorrect info. I think if you're in the particular office I interacted with, it was only multi and seniors housing, either with an agency or Pru balance sheet

Sep 4, 2019

The numbers for year 3 and 4 are more speculative below, but 1 and 2 are pretty certain.

Year 1: $80-85,000 all-in (excluding signing bonus)
Year 2: $85-95,000 all-in
Year 3: $100-120,000
Year 4 (associate): $110-150,000

There may be occasional travel depending on team, but probably not more than once every 3 months. Hours ~50 a week +/- 10 as mentioned above.

Both are extremely well established and invest a TON in a variety of different markets/asset types. If you want to exit into equity go with PGIM RE, if you think a career in debt is more for you go with PGIM REF-- there's benefits to both and you can make a killing on either side. I think because being in REPE is generally more desirable than being in lending, PGIM RE is more prestigious. That said, analysts from PGIM REF move over to good equity jobs all the time.

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Sep 5, 2019

If I wanted to move into CMBS banking would debt be better?

Sep 5, 2019

Probably, since you would just be better prepared for a CMBS role if you already had experience in debt. But I've seen people move into CMBS from all over (equity, non-RE lending, IB, fin consulting).

Sep 7, 2019
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