REPE Analyst Comp Insight

Hey everyone, I've been reading websites saying that REPE analysts at big shops can expect to make $130k+ right out of undergrad once bonus and everything is factored in. This sounds crazy to me because when I search actual salaries on glassdoor and similar websites it shows much less. I'm at a small shop so I have to negotiate everything myself based on market comps.Just curious to see if my negotiations have been somewhat successful. I have negotiated the following terms for my 1st year position right out of school:

 

At so-called 'top shops' or large firms in big, expensive markets like NYC, SF, etc. it can happen that even UG's can get base salaries in the 80k to 100k range, then get 10% to 20% bonus (sometimes higher). That will get to '6-figures' in many cases. These positions, especially for UG, are hard to get and few in number. I knew a guy who worked for Carlyle out of UG made close to $200k with bonus in his 2nd year, but it was a really good year.

 

The top shops like BX and Starwood pay ~$130K all-in for first year analysts I believe. That’s around the same as IB.

I wish I knew about REPE earlier. REPE > IB easily when you consider everything. More interesting work, better lifestyle, and around the same pay.

 

In NYC I think if you're at one of the BIG shops you might see a base salary in the 80-90k range (MAYBE 100k at a handful of firms), with 10-20% bonus out of undergrad.

In Toronto (my market), you're lucky to see $75k plus 10-20% bonus out of undergrad, more typically it would be in the 60-70k range with similar bonus. Brokerage you're looking more in the 50-60k range (not sure on bonuses, depends on brokerage and team but definitely can be significant).

The vast majority of the top firms here don't recruit straight from undergrad at all. Most recruit people with 1-2 years of experience in IB, brokerage, or newly minted CPAs. They bring these people in at the analyst level, typically at a $80-90k salary with anywhere from 10-50% bonus depending on the firm.

So basically, up here you're making pretty mediocre wages for your first couple years, but it scales to over 6 figures all-in very quickly.

 
CREnadian:
In NYC I think if you're at one of the BIG shops you might see a base salary in the 80-90k range (MAYBE 100k at a handful of firms), with 10-20% bonus out of undergrad.

In Toronto (my market), you're lucky to see $75k plus 10-20% bonus out of undergrad, more typically it would be in the 60-70k range with similar bonus. Brokerage you're looking more in the 50-60k range (not sure on bonuses, depends on brokerage and team but definitely can be significant).

The vast majority of the top firms here don't recruit straight from undergrad at all. Most recruit people with 1-2 years of experience in IB, brokerage, or newly minted CPAs. They bring these people in at the analyst level, typically at a $80-90k salary with anywhere from 10-50% bonus depending on the firm.

So basically, up here you're making pretty mediocre wages for your first couple years, but it scales to over 6 figures all-in very quickly.

Which PERE shops are there in Toronto?

 

Brookfield's headquarters is here, LaSalle and PIMCO both have Toronto offices. BentallGreenOak if you still count them as REPE after the merger. Probably a few other internationally recognizable names I'm not thinking of.

We also have a ton of Canadian funds between $5B-$30B AUM that invest throughout NA as well (and some EU/SA presence). They wouldn't be household names in the US, but plenty of capital to go around up here.

A lot of the largest institutional investors in Toronto are Canadian pension funds' real estate arms (Oxford Properties Group, Cadillac Fairview, CPP Investment Board, PSP Investments), Most of them have begun investing in more opportunistic deals in the past few years and moving away from solely focusing on core properties, so I'd lump them in a similar group (and at least up until Associate level, the comp is about the same as REPE - can't say for VP/Director and beyond though).

 

That comp is bonkers. Did he recruit off cycle as a first year analyst out of undergrad? Also was he at a bank, other REPE fund, or something else at the time of recruitment?

I’m a fun guy. Obviously I love the game of basketball. I mean there’s more questions you have to ask me in order for me to tell you about myself. I'm not just gonna give you a whole spill... I mean, I don't even know where you're sitting at
 

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