Real Estate Development Comp by Shop

JackyD's picture
Rank: Baboon | 143

I am interested in hearing opinions of everyone on whether or not these large shops, like Hines, Related, Brookfield, Tishman, Rockefeller, Crescent, Mill Creek, Ect. have roles that you are involved in acquisitions and development? I am at a medium size family office pulling about 90k all in after bonus and get exposure to acquisition and development. Any insight on how these shops comp their associates?

Comments (14)

Mar 26, 2020

Typically base plus 20-30% guaranteed bonus, and potentially special bonuses after completig projects, and equity in deal. For associates at H/T/R, you'd be looking at $110-120k base with the bonus noted above.

  • Associate 1 in PE - Other
Mar 27, 2020

I worked for one of the larger shops doing acquisitions/development (Hines/SL Green/TCR/Brookfield). Entry-level comp was $100K + 30%-40% bonus, pretty similar to colleagues in similar roles. No carry until VP level. Brand/exposure was great, but hours were long and culture was pretty brutal (par for the course for development in New York).

Mar 27, 2020

how many years of experience would one of those shops expect for an analyst/associate position? would 1-2 years at a smaller dev shop make sense for a transition to hines/tcr?

  • Associate 1 in PE - Other
Mar 27, 2020

Most people had at least 2-3 years of direct experience. Almost all investment sales at JLL/Eastdil, investment banking (majority real estate coverage), or lateral from another large development firm.

Mar 27, 2020

Just looked at SL Green's portfolio of NYC office. Holy fuck.

Mar 27, 2020

What type of comp should you expect coming out of a real estate focused MBA program with brokerage experience?

Mar 27, 2020

Worth noting that most firms like the ones referenced will set pay ranges based on market. So places like NYC, LA, SF, Boston, etc. will pay more than Texas, Southeast, or other smaller/cheaper markets. Meaning associate pay can literally vary within firm, market by market.

    • 1
Mar 27, 2020
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