I have an offer from a major real estate investment firm, in their acquisitions team. They pay almost 90k straight out of undergrad. Is this a fair offer for RE acquisitions?
Also how is repe long term development. I have an offer at a EB IB, while I hated the hours the pay is much better at the IB.
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Is that 90k all in or just base salary?
All in, however COL is closer to a city like Houston. And the other co workers come from Target schools
Crow? If the firm is who I think it is then it is an amazing opportunity.
Take it
That’s mint for the hours
For direct from UG it's a good deal. You didn't say what market but that would be fair in NYC and great in a cheaper market. RE firms don't really give good pay or bonuses until you prove your usefulness (good raises for good performance are common, even early on).
What is typically the pay in year 1 at a RE firm before you prove yourself? Ex. First year Acquisitions Analyst for a middle of the pack firm. Range for base / bonus % ?
Can vary a lot, I know someone who recently took a $50K base (not sure about bonus) at a lower tier but still legit NYC firm as an acq analyst (state school UG direct to NYU MSRE, had some internship experience). That is the lowest I've heard of for a major market, but par for smaller markets. Highest I've seen for grad degree with no direct RE experience besides internships, 90K plus 25% bonus.
I've known 2nd/3rd year analyst/associates who got bonus equal to 100% of salary, generally tied to success on closing deals; that would bring total comp to the $150-200K range but VERY dependent on firm success.
I should add... salaries/bonus for top tier REPE (like Blackstone, KKR, Carlyle) can be above $200k all in for real estate analysts, even in asset mngt. But I don't see this as comparable as they are generally hiring from analysts and associates from BB I-banks with 2-5 yrs experience, yet the titles are the same. Go figure.
Interesting. That’s a pretty wide range. Coming out of NYU MSRE plus 1-2 internships and 1.5 years of brokerage I’d want 70k base MINIMUM with high upside bonus (30-75%). Any other recent case studies you’ve heard of coming out of NYU MSRE? Surprised they don’t have any public stats on that.
I know firms are offering total packages that get near and above $100k in NYC. I would presume NYU grads are getting some of those jobs or at least their fair shot.
NYU is a large program, so it’s really tough to generalize. They also allow people to go part-time, so any averages could be really skewed by the level of variance in the experience.
I’d recommend not worrying about year one comp. it’s lifetime earnings that matter, doing what’s interesting, and lifestyle as well.
Your first several years will suck regardless, just part of it. Hopefully your brokerage time will count, I mean it should.
Can you send me a message yet? Happy to give more direct advice.
You make good points. And tomorrow I’ll be able to, I will in the morning. Thanks again for insight man
Do you guys have any insight on pay for a first year Acquisitions/Development Analyst in Los Angeles? Currently a financial analyst in commercial lending (construction dept.) and want to make the switch to RE. Currently make $60k in mid sized city and do not really want to take a pay cut, especially since LA is more expensive.
Not in NYC, but we hire people out of UG who have some sort of internship experience; generally pay $70k + 20% bonus and long term carry incentive in our funds.
Congrats on the offer! I’d recommend the CRE comp google doc.
Yes this seems like a fantastic starting salary. What are the hours like?
50-60h weekends free
that's fine given the MSA but make sure you don't want to work at an EB. big difference.
Echo above, good deal, I'd take it
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