I am a college senior who was recently given an offer to work as an Acquisitions analyst at a ~$5B REPE firm in NYC. I was told the comp will be "market" and don't have much experience with the RE industry/RE forums so I am not sure what market comp out of UG is exactly. Google searches, payscale, glassdoor, etc. haven't been very helpful in this regard. Is the compensation comparable to "regular" PE firms? Some examples/shared experiences would be much appreciated.
Thanks everyone.
You may have the best success here:
https://www.wallstreetoasis.com/forums/what-is-your-compensation-in-rea…
I am at a $3B shop in the Texas market. 1 year of experience with good internships. I am at $65K with 15% bonus and 2% carry on deals I work on, plus co-invest in any deal. I get a higher carry percentage if I source the deal. This is dream compensation to me, but I am in Texas where the cost of living is low. The priority for me was not compensation as much as getting in a place where I could grow the most. I am lucky and work with three partners who have been in the business for 35+ years and VP's with lots of experience. Being around these people is just as valuable as the compensation to me.
Maybe a little off-topic, but: did you initially plan to go into RE? And was comp an important factor in your plan? I ask as someone who is still a little on the fence, leaned more toward pursuing IB throughout college but had my eyes opened to "the existence of other career paths on this planet" recently.
EDIT: Also, checked out that link and definitely gave a little more perspective but unfortunately most of the posters had a few years of experience out of UG. Helpful link either way. Thanks.
It is hard, being in school and trying to map out the world well enough to take a shot at picking a career. I had some advantage by taking time off before and during school. I traded stocks/currencies with my dad after HS, originally I wanted to do IB into hedge funds. I realized in school that the hedge funds were going pretty quantitative (programming and mathematics are less interesting to me than big picture macro thinking). I also knew I wanted to semi-retire early and generate income with RE. I figured the RE market could never get centralized because each asset is unique, meaning there will always be inefficiencies in the RE market to some degree or another, inefficiencies that would be an edge for me. I realized this my Sophomore year and then went full speed RE, I enjoy it. It was a good choice based on all of the above, I dont have any regrets, there is nothing else I would rather be doing (at this point in my career), but like I said, I was able to have some other experiences than most that helped me make the decision that was right for me. In RE the money comes, either by going out and doing your own thing (which is comparatively easy because of the inefficiencies I mentioned ^) or increasing carry %. The money is there, and is not far off in a RE career, it is just not as immediate as IB, hedgefunds, PE. I am planning to raise capital for my own stuff in the next couple years.
Also, my comp seems low, but it is actually pretty high, especially for texas, adding in carry and co-invest and converting it to annual, it looks like my annual comp could be in the $115K + range. that goes up significantly if I get some deals sourced.
Wow looks like you landed a great gig! Happy for you and all the best moving forward.
Really depends on the shop but I have seen anywhere from $65-80k-ish base with bonus anywhere from 20-50%+. Know this is a wider range but should give you some idea what to expect. If anyone can comment on directly receiving more as a first year out of UG, props to you.
This is about right. I'm getting paid at 70K plus 20% bonus, with 10% increase in base over the next two years and it seems as though this is the market standard, give or take 10K if you're in New York/San Fran or in the south somewhere. I'm in DC.
Megafunds will pay higher, boutiques (>1B AUM) will pay lower.
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