There has been plenty of posts about junior level jobs within RE I wanted to reach out to see if anyone with more experience could provide me any insight.
Been working at a REPE firm with about $2.5B AUM for about 2 years currently investing out of a $650mm fund. Was recently told I would be promoted to Associate Director and prior title was Associate. My role is primarily finding acquisition opportunities for the West Coast markets and I report to the Head of Acquisitions.
Curious what people's expectations would be for compensation for Base / Bonus / Carry. Roughly 5 years of RE experience as LP Equity. Currently $115k base with 30% - 50% bonus with no carry. They told me they wanted me to think about comp package when we sit at for year-end review.
Interested as well as I am in a similar situation.
This may be helpful for you, some good data points in here: https://www.wallstreetoasis.com/forums/what-is-your-compensation-in-rea…</a">https://www.wallstreetoasis.com/forums/what-is-your-compensation-in-rea…
I work for a similar sized LP firm based on the West Coast. Depending on the COL of your city, I would expect around $125-150k base, 30+% bonus, and some sort of incentivized per deal fee or carry in your fund for the promotion and role you described.
Based on description and title i would think more like 150 with 50% and carry on an older vintage fund in addition to the current and future funds
Try to find the Glocap compensation survey and throw that in front of them.
I have put together several survey and data points which I think are helpful but was also thinking of backing into a total comp number by taking the total AM fees that we would generate from a typical year in my region which is 4-5 deals / year. Then taking assigning a percentage like 20%-25% of the total AM fee. Backs into like a $200k - $250k figure which aligns with the survey comps. I was thinking of asking for $140k and 50%+ bonus but willing to settle to $130k and 50%+ bonus. Does anyone have any insight on typical carry and structure?
Generally speaking, I've seen REPE be more carry/participation based and REIT's be more acquisition fee based. But it's all over the board. If you're focusing west coast and sourcing deals, with your experience level I think the all-in number can vary anywhere from 275-400 all-in. The lower end of that will be due to a higher base & defined % bonus target, whereas the higher end will be more performance based. How that translates is very firm dependent, but it seems like you've got a pretty good handle on it already. The numbers you threw out above didn't make me react very strongly one way or the other, FWIW (as in - 'wow that's a shitload' or 'wow he's lowballing himself').
Yeah I think if there was no carry / participation I would want a higher salary / bonus. But would be willing to sacrifice on those two fronts if I was able to get carry / participation in the fund. Just tough in RE because as you said it varies by firm by such a wide margin.
Will keep you guys in the loop.
How did you do brah?
You are based out of LA?
Anyone else at a family office? Seems more difficult to negotiate transaction based bonuses and carry under this structure.
Ended up at $135k salary plus 50% bonus and carry within the previous fund and all future funds. Also was promoted to Director recently so will be having the comp discussion again in Jan.
how many year of exp.? and based in LA?
Congrats on the bump and the carry
LA - 6 Years
Thanks def excited about it.
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