I have about 6 years of Real Estate experience on the LP / GP side. Current work at an acquisition shop with $2B AUM handling acquisitions for West Coast investing out of a $750m+ fund.
Got reached out for a similar role but slightly larger company $3B - $950m+ fund.
Curious what people thoughts are on what market comp should be / what reasons why you’d jump ship?
Comp would be 35% increase from $225k to 300k. Currently have 1% coinvest valued around $500k.
Also I would move a high COL city to one of the highest COL cities.
Would be helpful to know your current title/role and your ultimate career goals.
Does the new role offer exposure to new asset classes or geographical area? Would the new position offer an opportunity to significantly expand your industry contacts? Somewhat related...would the new position allow you greater industry visibility? Would your overall quality of life improve?
If the comp is better...does it become a no-brainer if you can also negotiate to obtain a better title? Based on the comp...I would assume you're probably at a director level. What if the new firm offered to make you a "senior" director?
I'm sure others can offer more constructive feedback. I'm just sharing how I would view the situation if in your shoes.
TBH I think title means very little in real estate it differs so much from company to company. It’s more about what your day to day job is and how much responsibility they give you.
But it’s a lateral job in my mind. Doing west coast acquisitions just for a slightly bigger fund at this point in time. The job is listed as an executive job with 10+ years of experience. But I would expect it to be very similar to my current job which is source investment opportunities for our fund. I sign all LOI, lead all best and final calls / investment committee calls, lead contact for PSA negotiations with our attorney.
Just out of curiosity...how is your firm on both the GP and LP side? Does it come down to deal size and whether or not your firm can take down a deal without others...or is it based on whether or not your firm sources the deal...or is it based on the risk profile of a deal and/or exit strategy?
Sorry should of explained that better I meant 4 years at an LP allocator fund then 2 years where we buy direct with our fully discretionary fund. We have a coinvest that gets a promote from our investors.
In SF? Berkshire, GID, or Bell?
Yup SF - Bell
That number seems about right, but depends on what the bonus, carry, and other performance based comp they're cooking in there. It's an expensive place to live as you know...
They quoted 200k plus 50% bonus. Any insight on the firm? They play in a slightly different space than we do. Seems like they buy newer vintage 1990+ assets and hold longer term for a low teens IRR.
Curious if co-invest/promote % was discussed at all?
Either way that's a healthy pay given what I know about that shop.
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