I am evaluating a REIT offer cannot seem to find any info online or through WSO. I am looking for help with the following questions:
What is Market Comp (Base + Bonus) for REITs?
WSO users offered the following data points on REIT comp at various levels. It's important to remember that comp varies by firm, location, deals, etc.
From current employee in industry
- Analyst (0 - 2 years experience) - $50 - 60k base + 15% incentive
- Sr. Analyst (3 - 5 years experience) - $75 - $90k base + 15% incentive
- Manager (5 to 7 years experience) - $90 - $100 base + 20% incentive
- Director (7 to 10 years experience) - $100 - $125 base + 30% incentive
- Sr. Director (10+ years experience) - $125 - $175 base + 30% incentive
From current recruiter for industry
- AVP level ~$125-$150k base
- VP position compensation at the big REITs ~$150-$200k base and 25-50% bonus
The following links provide more compensation details as well:
- CEL & Associates 2016 Real Estate Compensation Survey
- What is Your Compensation in Real Estate Finance?
REPE vs REIT?
How does work compare?
- Public REITs are not big risk takers and don't pay as well as REPE.
- REITs: It's a much more corporate environment. Larger and more bureaucratic work environment, more rules bc it's a REIT and most likely public, layers of management that you need to slowly progress through, etc. but it's probably a lot more stable and there's typically a more defined career path but it will just take longer to move up.
Do REITs offer any real upside?
- REPE funds have carry.
- The upside at a REIT in Texas would be in company stock and/or at the C-level.
Is REIT work more transferable than REPE?
My current REPE gig has $800mm aum vs the REIT at $3b. They do large industrial and office @ $20-50mm/deal vs where I am now at 1-3mm per deal. If you want to work for a more well known shop I would think there are more opportunities in the larger deal space.
WSO users commented that the type of the deal, rather than the size, is more important when considering if work is transferable.
- Based in TX
- 3b aum
- Acquisitions associate role
- Purchase institutional quality office and industrial