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.
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.
My firm as well - this feels like the norm.
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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