PGIM VP Comp
Anyone have any sense of what the comp package might be for a VP role? Recruiter reached out, and I’m a little out of the game in terms of where market is today.
Anyone have any sense of what the comp package might be for a VP role? Recruiter reached out, and I’m a little out of the game in terms of where market is today.
+89 | Those Of You Who Have Made It To Millionaire Status, What Advice Do You Have? | 34 | 2s | |
+59 | Family Office Exit Ops | 22 | 27m | |
+58 | Etiquette for Giving Notice | 18 | 1d | |
+49 | NYU SPS MSRE Reputation (and others) | 16 | 16h | |
+30 | Contemplating job opportunity | 8 | 1d | |
+30 | Assessing / Analyzing Office RE | 4 | 2h | |
+21 | Staying Busy When Laid Off | 8 | 11m | |
+21 | Learning Resources - CRE Capital Stack | 4 | 59m | |
+20 | Palatine Partners | 4 | 2d | |
+20 | Pref/Mezz for LIHTC | 18 | 3d |
Career Resources
I highly doubt you’ll get a response on here but I’m very interested as well. If the recruiter gives you a range plz share
Acquisitions? Asset management? Lending? What area of the business? They comp to the other Life Co’s. Assuming acquisitions, with 6-8 years of experience, $225-300 all in.
Super helpful. Thanks. It is an acquisitions role.
Is it accurate to comp PGIM against life co’s that don’t raise third party capital and manage closed end funds?
Yes and no. The market is kind of the market. Some companies will pay less in cash but have better benefits, and vice versa. These big corporates all know where their competitors price and if they undercut the market too much, they may have trouble attracting the talent they want. I’ve worked at a Life Co and interviewed at a few, and they were all within a stone throw of each other in terms of compensation. They also all knew tradition PE firms paid significantly better, but the Life Co.’s gave you a better work/life balance and great benefits. And when you tally the cash compensation and benefits value, you actually came out in the same area as the PE firms, but, you couldn’t necessarily access that in cash today because it was either in time off, pension, 401K, Healthcare, etc. You’ll see in many Life Co job postings this is something they sell. And it’s true, when I jumped to PE is when I actually tallied my benefits up, and realized how much I was receiving. It was another 20%-30% per year in compensation which actually evened me out with PE firm cash comp. When I left the Life Co., my healthcare costs increased significantly (and this is firm dependent, but generally speaking, I had magnificent healthcare at a cheap cheap cheap cost), I lost an awesome 401K match and pension contributions.
What about am?
Asset management with a life co, 6-8 years in, as a VP, is probably $200K-250k all in.
I know a mid 30s VP in Lending that is closer to 400k at PGIM NYC (250k + 150k bonus). About 20% of the bonus gets pulled into some deferred comp plan.
No carry available given their structure, so that is something you have to consider.
Deal teams have higher compensation than the asset management teams. Do they have about 10-13 years of experience?
Yes, he is 34 or 35, so about 13/14 years of experience.
I've heard the PGIM side pays a little more than the GA side because they generate fees plus PGIM is trying to expand so they want top talent, but I dont have first hand experience.
To your point, life-Co grind is very different than PE grind. When I was at life cos, it was very much 9 - 6 with a 1-1.5 hour lunch break. I'm at a fund now and we are more like 9-9 with several nights working until midnight + weekends, and I eat at my desk mostly. Yes, I make 50% more, but I'm working those hours.
That doesn't sound right. I worked at PGIM on the origination teams and the base salaries were no where near that high for an originator role. You could maybe hit 400K in a good year, but a large portion of that would be bonus as opposed to base salary. If anything, it would be 150K base, 250K bonus instead of the other way around. It was largely eat what you kill.
Aut illum quas ad et. Vero harum eveniet sapiente nihil quis. Id natus ullam voluptatem. Quia veniam doloribus soluta qui eius iure dignissimos. Officiis rerum dolores vel.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...