What is your compensation in Real Estate Finance?

I cant find much in the way of compensation for real estate other then the summary page from the HR consultant that is floating around here, so I thought maybe people will be willing to describe what they do, their market, and what their compensation looks like.

Industry: Real Estate Development
Title: Development Associate
Market: California major sub markets
Shop Size: Small (0-20 employees)
Experience: 6 years real estate, 3 years being development
Product: Mostly ground up market rate multifamily (50-200 units), some commercial ground up
Duties: Manage entire projects as the second behind the DM or as the lead from acquisition to C of O.
Compensation: $85,000 base, ~$5,000-$10,000 bonus, 401K, Health

 

Industry: Real Estate Development Title: Summer Development Associate Market: Major Southeastern City Shop Size: Small Office (100 employees) Experience: 3 years real estate, 1 year grad school Product: Ground up, Class A Multifamily (300-400 Units) and Office Duties: A bit of everything. Market research, underwriting, and design oversight, etc. Compensation: $80,000 pro-rated over the summer. $2,000 relocation.

Commercial Real Estate Developer
 

Jeez I didn't realize development associates make so little. You spend $80k on 1year of school to get out and make $80k/year... I know multi-family property managers that make that as base salary.

At what point do you get carry and/or the ability to coinvest assuming you have the cash to do so? I'd imagine won't have much cash to invest if they're making 80k/year.

If you're at a big shop like Related, when do you start to make some cash?

 
Non-PC Broker:

Jeez I didn't realize development associates make so little. You spend $80k on 1year of school to get out and make $80k/year... I know multi-family property managers that make that as base salary.

At what point do you get carry and/or the ability to coinvest assuming you have the cash to do so? I'd imagine won't have much cash to invest if they're making 80k/year.

If you're at a big shop like Related, when do you start to make some cash?

This is why I posted this. I have no clue if I am significantly underpaid, but it feels like it. I can co-invest with my own money in deals, but like you said, I dont have much to invest.

 

You would be underpaid where I work. The base is reasonable, if not perhaps a bit short, but the bonus is way small. People here take a 5%-10% personal performance bonus and a 10%-20% deal performance bonus.

Commercial Real Estate Developer
 

It may be worth considering what you do have to bring to the table. It's not money that you have to co-invest at this stage in your career that makes you valuable. It's the financial intelligence that you bring to deals and the amount of value you can create for others. Now... we need to talk about how to parlay financial intelligence into hope certificates.

When an emerging fund manager or asset operator comes to me for help, they know by the end of our first conversation that I am going to add value to what they are doing. They would gladly pay the money I ask, but few have enough conviction to pay for a pitch-book (as one example). So we negotiate.

If the operator or fund manager later wants me to introduce them to capital, I charge a fee up front, then take a percentage of the funds I introduce that close. Even 1% of $10M is $100k. Can't pay me my fee until the deal cash flows? No problem. Let's talk.

How does it sound if you just leave my interest in the deal? Pay me on the back end? If I didn't believe in the deal, I would not have dared to promoted it to my capital providers, so I'm already comfortable there. Let's say $25K up front with $100 hope certificate left in the deal that accrues interest until the next liquidation event can be a nice way to build a retirement nest egg.

Collect K1's - start a whole collection of them. As the deals mature and exits happen, do you need to worry anymore about an $85K job with a 50-60 hour work week?

What intelligence/skills do you have that people will exchange fee or equity positions in deals for? How can you negotiate a fee for yourself and/or a piece of equity in exchange for what you know? A collection of smll pieces of equity can feed you and your family and keep you from filing W-2 income at all - unless you want to.

 
Best Response

You don't get into commercial real estate to be an office drone or wallow in middle management your whole life. The goal is to get promoted to Development Manager, get experience, and then either get promoted to management or go off on your own. No one's getting paid $200k flat to play in Excel and run Esri reports.

Commercial Real Estate Developer
 
CRE:

You don't get into commercial real estate to be an office drone or wallow in middle management your whole life. The goal is to get promoted to Development Manager, get experience, and then either get promoted to management or go off on your own. No one's getting paid $200k flat to play in Excel and run Esri reports.

This.

Array
 

Industry: Real Estate Investment Management Title: Analyst Market: All major cities Shop Size: Mid size (60 employees with 25 investment professionals) Experience: 4.5 years (1 year internship, 2 years rotation) Product: All stack of debt (senior A, senior B, second mortgage, third mortgage, bridge, mezz) Duties: Lead the underwriting process for all products, run some easy refinance stuff Compensation: $65,000 base, 0-125% bonus, health, and match 6%.

 

Inv Mgmt (Equity) Analyst Major markets Large shop Valuation, research, memos, portfolio analysis, dispositions, quarterly/annual strategies $65k + 15%

REIT (Equity) Analyst East coast Medium sized REIT Modeling, underwriting, memos $82k + 7%

 
NonTargetMan:

Industry: Real Estate
Title: Associate
Market: Texas
Compensation: $120,000 + 30-40% bonus + equity

Now this is what's up. Gotta get in on that Hines/Crow Holdings cash.

Commercial Real Estate Developer
 
NonTargetMan:

Industry: Real Estate
Title: Associate
Market: Texas
Shop Size: A few billion AUM
Experience: 6 years
Product: multifamily, retail, office
Duties: Acquisitions, Asset Management, development (cradle to grave)
Compensation: $120,000 + 30-40% bonus + equity

I made same salary and had only 1 year experience !
 

Industry: REPE Title: Summer Associate (Acquisitions/Development) Market: Southwest, but invests nationally Shop Size: $10B+ AUM Experience: 3 years RE pre-MBA; current summer intern Product Type: Office/MFH/Retail/Industrial Duties: Acquisitions and development deal buy-side underwriting, compiling IC briefs, due diligence, market research Hours: 55-65 Compensation: 90K prorated, 2K relocation bonus

 

A lot of people don't realize this, but most real estate positions will top out at $125,000 to $150,000 base and then you will make your money in the carry once you grab a piece of that. Also, some acquisitions guys get bonuses for closed deals. Otherwise, at the lower levels, developments pays less than traditional "REPE." For example, any of the traditional capital allocators will pay better at the lower end. At the top end, all depends on your investment performance.

 

Industry: Real Estate Title: CM/DM Market: CA Shop Size: A few billion AUM but only 4-5 people in CA Experience: 8 years this summer (1-2 in RE) Product: industrial Duties: Aquisition/DD - construction/design/entitlements - TI's
Compensation: $140k base + 20% bonus. Consistent with what pudding said above. Been told flat out this role (pre-principal or vp type level I think) tops out at a $150k base with a much larger bonus. carry can come after a couple years service/prove your worth type of thing

Related..Anyone want to talk to how/at what point they negotiated carry in their comp? At what point did that come in your career?

UPDATE Jan 2019: $160k base + 25% bonus

 

Generally, as soon as you can draw a clear line between you and sourcing a deal, a successful closing, construction, and C/O you should be getting some equity in the deals.

pere797:

Industry: Real Estate
Title: CM/DM
Market: CA
Shop Size: A few billion AUM but only 4-5 people in CA
Experience: 8 years this summer
Product: industrial
Duties: Aquisition/DD - construction/design/entitlements - TI's
Compensation: $130k base + 20% bonus. Consistent with what @pudding said above. Been told flat out this role (pre-principal or vp type level I think) tops out at a $150k base with a much larger bonus. carry can come after a couple years service/prove your worth type of thing

Related..Anyone want to talk to how/at what point they negotiated carry in their comp? At what point did that come in your career?

 
pere797:
UPDATE Jan 2019: $160k base + 25% bonus

Niiiice. $200k club.

pere797:
Related..Anyone want to talk to how/at what point they negotiated carry in their comp? At what point did that come in your career?

I got lucky that I didn't have to negotiate for it - it was part of the offer. I'd do some research / reach out to your buddies in your market and see if anyone else is in the same position. It's easy enough then to make the argument that "market comp" includes carry.

Commercial Real Estate Developer
 

That's sweet. Unfortunately, I really don't have many people I know in the RE industry so its tough to gauge this kind of thing for me..hence why this thread is valuable to me lol. But honestly, I think I am getting pretty much market as far as base goes especially here in CA. For what its worth, I had another offer to go somewhere else for a higher base this past year as a DM, so lateral move, but I like what I am doing project wise and it will be good for my resume later when I try to make a VP/Director transition. Or if I make the case for that promotion when the time comes, I think its definitely worth the hard conversation with the current employer.

 

Agree with the figures that pudding said above, being that some shops you may be able to squeeze out an additional 25 K if you have the right background/resume they want, which is timing/luck. Keep in mind the comp packages are vastly different given the structure of the firm. A PE acquisitions associate is going to have a very different starting package and trajectory than someone in a similar role at a REIT/Pension Fund.

A big reason for this is that there isn't as normalized of a talent pool to bring into the buy-side as other sectors. Unless someone is willing to train you up fresh out of undergrad, there are only a handful of brokerage firms (CBRE, Eastdil, JLL, HFF, etc) that have a dedicated analyst program that preps people for the buy-side in a similar way that IB does within the traditional 'high finance' sector.

It's very rare for a reputable (read: profitable/successful) shop to give out equity participation to anyone below a VP/Partner level since you haven't proven yourself yet with respect to deal performance. Typically they will offer a relatively good comp package considering you probably aren't going to be pulling more than 50-60 hours a week, but won't give equity participation until you have been around for a while and know what you are doing/have a network of your own and can start the deal sourcing process.

"Who am I? I'm the guy that does his job. You must be the other guy."
 

Industry: Development Title: Associate Market: Major East Coast Shop Size: $4-5B AUM Experience: 4 years real estate Product: Office/Resi/Hospitality/Retail Duties: Cradle to grave development. Compensation: $115K base 30% bonus

 

Industry: Dev, acquisition, of all product types. Title: really none but I say associate Market: south, mainly Texas Shop size: small under 5 Experience: 4 yrs, straight out of under grad. Degree unrelated Product: anything but hotel but mainly MF Duties: EVERYTHING! Acquisitions, modeling, writing packages, raising a little equity, portfolio management, dispositions. Comp: 50k base, minimum 100% bonus, max 300% Hours: 60 tops usually 40

 

Industry: 3rd Party Asset Management Title: 1st year analyst Market: Sunbelt Shop size: 200+ Experience: 1 Yr Degree: Finance Product: Asset Management Duties: Models, management review, funding calls, project administration Comp: 50k Base, No bonus yet, decent benefits Hours: 60-80

I just had an interview with Rialto Capital for an acquisitions analyst and they said their base in Atlanta was 70k.

 

So if one has a valid real estate sales license in their state of residence is this looked upon as an advantage in CRE company recruiting. I mean does it give you an advantage over those that don't have it?

I hope this is better than the last batch of shit you gave me. Produced more wood than Ron Jeremy. I don't want you to yell, "Reco!" anymore. Know what you should yell? "Timber!" Yeah, Mr. Fuckin' wood.
 
TheodoreBonkers:

So if one has a valid real estate sales license in their state of residence is this looked upon as an advantage in CRE company recruiting. I mean does it give you an advantage over those that don't have it?

If you're a broker or involved in third party sales or leasing it is a benefit. If not, it's not.

The license in general has little to nothing to do with CRE and is something like 99.999999% about selling single family homes. Still, to be a third party broker, it's required by law.

Commercial Real Estate Developer
 

Thanks a lot for clearing that up for me!

I hope this is better than the last batch of shit you gave me. Produced more wood than Ron Jeremy. I don't want you to yell, "Reco!" anymore. Know what you should yell? "Timber!" Yeah, Mr. Fuckin' wood.
 

Industry: Development Title: Senior Analyst Market: LA Shop Size: Boutique (10 employees) Experience: 5 years Product: Office (creative, medical), multifamily, retail, mixed use, master planned developments Risk Profile: opportunistic (ground up, change of use development), value add (repositioning), core plus Duties: Acquisitions, Asset Management, portfolio management (specifically in "investments" and more analytically focused) Compensation: $100,000 + 30% bonus + 5.0% 401k Hours: Typically 60 per week

 

Industry: REPE Title: AVP Market: West Coast Shop Size: $8B+ AUM Experience: 3 years real estate Product: Mostly: Ground up / Value Add MF Some: Office / Industrial / Hotel Duties: A to Z including UW, Asset Management, Source Deals, and Negotiating Terms Compensation: $115,000 base, 20% to 100% YE Bonus in typical year with potential to be 100% to 200% in very good years. 401k / Health. Ability to co-invest in fund on GP side. Hours: 40-50

 

you're at the AVP level and you're not getting any carry? Also, that bonus is extremely variable 20-200% is a huge discrepancy, are you saying your all-in can be anywhere from 138k-345k? That is an insane difference.

Array
 

Our firm has weird titles I'd say I'm similar to an associate / senior associate with next step being VP with carry.

100%-200% would be highly unusual. Being we sell a real estate company that we invested as a private equity partner. Norm bonus would be 20% to 100% dependent on fund success and personal success. I've only been at the firm almost 2 years. And have been on the high end of the bonus because I've only seen the good part of the cycle.

 

Unfortunately I can't provide any insight yet, but would anyone be able to give an estimate of what comp would look like for a CRE analyst/associate (entry-level) for an accounting/consulting firm (think Grant Thornton, Plante Moran, RSM, Baker Tilly)? I wasn't aware but certain firms have a small real estate arm and it's something that I would absolutely look into pursuing.

 

Wanted to put in my stats - I feel I am being underpaid given what I hear about people making at cmbs groups at banks

Industry: RE Debt origination (First mortgages) Title: Associate Market: Work in NYC but cover clients across the US Shop Size: ~30 people Experience: 3 Years of origination/underwriting + 1 year of investments/analytics in CRE bonds Product: CMBS + Balance sheet loans Duties: Due Diligence, valuation, market research Compensation: $90,000 base, bonus 15-30ish% Hours: 70-100

 

Commissions are generally only a thing if you're a producer(loans, brokerage, etc). The "piece of the pie" you're referring to is a larger bonus at upper levels and what's commonly called carry, or carried interest which is where the more senior levels in a firm are given the opportunity to invest their own cash into the deals. Or roll in bonuses, or whatever. The senior guys bank, generally. Obviously that's market/firm/cycle dependent, but generally they have significant income. There's a reason none of them are posting salaries.

FYI for most people, commission isn't a great place to start or enter the industry. You don't have the connections to make a commission job worthwhile yet. Once you do it can be VERY lucrative, plenty of threads around about it. Most get into brokerage either at a CBRE/JLL/whatever type, some are offered a draw, some aren't. But if you're a newly graduated 22 year old with student loans and bills, well, that shit doesn't fly. Lots of good reasons to look for salary + bonus. Plus it's generally safer with a steady income long term vice eating what you kill.

 

2nd what thexaspect said. Basically at the associate level your skills are underwriting and executing. Both skills that can you make you some money but not producer level. To be a producer you need a lot of live deal experience and contacts typically made through doing deals.

 

Industry: Investment Sales Title: Analyst Market: Chicago, DC, Boston, Philly type market Shop: JLL, CBRE, CW type Experience: 1.5 years financial reporting/asset managemnt Product: Hospitality, development Duties: Market research, OMs, Underwriting, deal admin Compensation: $40,000 base, bonus/commission at will of producers I support Hours: 50-60

 

Industry: RE Acquisitions Market: NYC, portfolio is around the country Type: Family fund Employees: 5 in US, 20 altogether Experience: 1 year pre-mba, 1 year post Product: MF/Retail Duties: everything Compensation: $70k no bonus Hours: 45-60

 

Industry: Acquisitions Title: Associate Market: Southeast/MidAtlantic Type: Investment Manager Employees: 20 in my office, 250+nationally Experience: 3yrs Product: Office, Industrial, Retail, MF, mostly core deals but will do ground up MF, mezz, and value-add retail/industrial Duties: u/w, tour, and put together memos and present deals to IC, due diligence, some negotiations, once it closes, turn it over to AM team Comp: 90k base with 25-40% bonus Hours: 45-55 maybe 60ish if we have multiple deals

 

Industry: Acquisitions/REPE Title: Associate Market: Texas Type: Investment Manager Employees: 450 in my office, 1,000+ nationally (not all are on investment team) Experience: 3yrs Product: Office, Industrial, core plus, and some development Duties: put together memos and present deals to IC, due diligence, investor relations, AM Comp: 90k base with 10-30% bonus Hours: 45-60

 

Industry: Real Estate Development Title: Manager (3rd Year) Market: NYC Shop Size: (15ish employees) Experience: 4 year real estate Product: Mixed use in gateway cities. Duties: Acquisitions, Development, Asset Mgmt Compensation: $140,000 base, $50,000 bonus. No 401K. Hours: 50-60

 

Industry: CRE Lending Title: portfolio management Officer Market: DMV Shop Size: Not sure, offices in major markets, 30 on my team Experience: Post Undergrad Product: Office, Multifamily, Retail Duties: Do annual reviews, keep tabs on borrowers, etc Compensation: $65,000 base, ~$5,000 bonus, 401K, Health Hours: 40-50

 

I interned there before graduating and accepted a FT offer before graduating. I am not sure about increases as I have since left. I think from what I heard while there is that big increases mostly come with promotions.

 

Industry: CRE PE Title: Associate Market: Greater NYC area but we invest across the country Shop Size: $1-2B AUM Experience: Post Undergrad (worked for 4 years in other slightly related areas of finance) Product: Office, Multifamily, Retail, Hotel Duties: Asset Managment/help with all stages of our many dispositions Compensation: $95,000 base, ~50% bonus, Health Hours: 50+

 

Industry: REIT & Private CRE Research (sell-side) Title: Associate Market: U.S. and Europe Shop Size: 120 (40 research professionals in US, Europe) Experience: Straight Outta Undergrad Product: All sectors, both core and niche Duties: Relative market valuation and forecasts, market research, sector updates Compensation: $60,000 base, ~$10,000 bonus, 401K, Health, gym stipend Hours: 40

 

I think its a great pay already but it seems that the number of hours you are working doesn't fit it much. I believe Time is gold so you must be paid fair enough most especially with the hours you've spent working on a certain company. Nonetheless, its your choice whether to settle there but if the company helps you a lot in so many ways and help you grow as a person and as an employee then better be just thankful for the opportunity that you have that kind of work and compensation.

 

Industry: Real Estate Acquisitions in Boston, MA Title: Analyst Market: Mid-Atlantic properties Shop Size: 200 employees Experience: 2 years in Acquisitions Product: Low Income Housing Tax Credit (LIHTC) Multifamily developments Compensation: $51,500 base, ~$13,000-$16,000 bonus, 401K, Health

You eat what you kill.
 

Industry: Real Estate Development Title: Associate Development Manager Market: American Southeast Shop Size: Small (0-20 employees) Experience: 3 Years Real Estate, Master of Real Estate degree Product: Ground up market-rate multi-family and student housing with street level retail as well as master-planned mixed-use communities Duties: Manage entire projects as the second behind the DM Compensation: $65,000 base, ~$10,000-$20,000 bonus, 0.5% equity in each deal, 401K, 100% Health

Commercial Real Estate Developer
 

GP. I've heard of people here investing additional money into deals as well, but I'm not sure if that just boosts their GP% or if they become LPs as well. I'm rather new.

Commercial Real Estate Developer
 
Nousernamehere:
How did you get this role? What was the interview process like?

Networking/cold emailing. The interview process was not technical at all. Almost entirely fit. 2 interviews with an offer at the end of the second.

Commercial Real Estate Developer
 
CRE:
Industry: Real Estate Development Title: Associate Development Manager Market: American Southeast Shop Size: Small (0-20 employees) Experience: 3 Years Real Estate, Master of Real Estate degree Product: Ground up market-rate multi-family and student housing with street level retail as well as master-planned mixed-use communities Duties: Manage entire projects as the second behind the DM Compensation: $65,000 base, ~$10,000-$20,000 bonus, 0.5% equity in each deal, 401K, 100% Health

For record keeping purposes, "Associate" was removed from the title and $20k was added to the bonus pool

Commercial Real Estate Developer
 
CRE:

June 2017

Industry: Real Estate Development Title: Associate Development Manager Market: American Southeast Shop Size: Small (0-20 employees) Experience: 3 Years Real Estate, Master of Real Estate degree Product: Ground up market-rate multi-family and student housing with street level retail as well as master-planned mixed-use communities Duties: Manage entire projects as the second behind the DM Compensation: $65,000 base, ~$10,000-$20,000 bonus, 0.5% equity in each deal, 401K, 100% Health

December 2017

For record keeping purposes, "Associate" was removed from the title and $20k was added to the bonus pool

January 2019

Industry: Real Estate Development Title: Development Manager Market: American Southeast Shop Size: Small (0-20 employees) Experience: 1.5 Years Development + 3 Years General Real Estate + Master of Real Estate degree Product: Ground up market-rate multi-family and student housing with street level retail as well as master-planned mixed-use communities Duties: Manage development projects - sometimes as the #1, sometimes as the #2 Compensation: $100,000 base, ~$20,000-$40,000 bonus, 0.5% equity in each deal, 401K, 100% Health

Commercial Real Estate Developer
 

Industry: PERE Title: Associate Market: U.S. - CA Shop Size: ~40 Experience: ~3 years Product: Multifamily Duties: PM Compensation: $125K Base, 50%ish bonus. Hours: 60

 

Industry: Investment Sales Title: Director Market: Southeast Shop: JLL, CBRE, CW type Experience: 4 years Product: Multifamily Duties: Various but I primarily generate business and oversee the underwriting of my deals Compensation: Strictly commission based. Last year I cleared $310K. This year I'm on track to make between $400-500K. Hours: 40-60 hours

 

2 years. To be candid though, I think I'm an anomaly. Not trying to sound arrogant because believe me there are people who do what I do and make WAY more (the level I'm trying to achieve), but I think it takes a certain special skill set, mindset, and luck to accomplish as much as I have in that short time frame. The vast majority of people can't do what I can do.

 

Industry: Family Office/REPE Title: Associate Market: Midwest (active nationwide) Experience: 5 years Product: Multifamily, office, industrial, retail, self-storage, land, student housing, and senior housing Strategy: development, value-add, structured debt, REOC, and core Duties: I'm primarily responsible for sourcing new investments, evaluating new investment opportunities, creating our models, preparing investment memos, presenting deals, and managing the deals after they close. I also have some "portfolio management" responsibilities Compensation: Base - $115k Bonus - 30% carry - .01% (All in ~$165) Hours: 50 - 60

 

Just landed my new position

Industry: RE Investments & Development Title: Senior Analyst Market: Major Metropolitan (NYC/Chicago/LA) Shop Size: 500~ employees globally, $3.5BB~ AUM Experience: 1.5 years of MF Acquisition experience at a family office Product: Institutional value-add MF, roughly 200 units and up. Development will be institutionally sized as well. Primarily all on the West Coast Duties: Underwrite and analyze all potential investments/purchases, create investment memoranda, oversee escrow/DD process, pretty much everything with the exception of sourcing (currently, although I will transition into it shortly as I have prior sourcing experience). Compensation: $90,000 base, $5,000 signing bonus, all in expected $125,000. 401k match and health.

 

Piggybacking cause similiar (MF related)

Industry: MF GSE lending Title: Analyst Market: DFW Shop Size: ~1000 employees globally, $20B+ in Origination volume Product: 90% MF, some senior living Duties: Take loan requests for MF, structure them to FNMA compliance, get them under app and passed off to UW. Acting as a gatekeeper to UW, but helpful to production Compensation: $70K, bonus puts total comp into $90K. 401K & Health.

 

Industry: REIT Title: Senior Associate Market: West Coast/southeast - invest across the country Shop Size: $15B AUM Experience: Post Corp FDP - switched to RE Product: Healthcare Duties: Asset mgmt, accounting, acquisitions, leasing Compensation: $65,000 base, ~25% bonus, all basic benefits Hours: 40-60

 

Industry: Development Title: Development Associate Market: West Coast Shop Size: small/mid size but very active (growing) Experience: 3 years (2 in operations, 1 in acquisitions). no grad school Product: Retail, Mixed-use Duties: Deal sourcing, underwriting and modeling, design feedback, assist in construction mgmt, interfacing with external stakeholders, dispositions. Compensation: $95,000 base, 15%-25% bonus. Good benefits.

 

Industry: Development Title: Development Associate Market: Mountain West Shop Size: National Company Experience: 2.5 yrs full time, few related internships, grad school Product: MF Duties: Soup-to-nuts development Compensation: $100K base, 30% bonus. Good benefits.

 

Industry: REPE Title: Analyst (1st Year) Market: Nationwide & Europe Shop Size: ~100 Experience: 1 Yr out of UG Product: All sectors, some more niche Duties: Acquisitions (UW, IC memos, market research, etc.) Compensation: $70,000 base, ~20% Bonus, 401K, Health Hours: 60-70

 

No not typically for owner/operators although some may view it favorably (many will not care). In brokerage you will be expected to get your brokers license if you work in investment sales, and they are usually pretty chill about it. Meaning you usually don't need to have it as a prerequisite to be hired from day one, as they will typically pay for it and give you a time frame to obtain it.

Honestly it depends on your money situation but I'd advise a college kid going for entry level to just wait and get them to cover it. Definitely shows initiative to knock it out tho

 

Industry: Real Estate Investment Title: Acquisitions Associate Market: Small Midwestern City (~300k Metro Pop) Shop Size: ~50 employees including property mgmt Experience: 4 years real estate Product: Net Lease deals, $5MM - $45MM Duties: Lead deal underwriting, due diligence, sourcing Compensation: $75k + $5k deal bonus for each deal led/sourced (total comp last year was $90k, it was a slow year)

 

Industry: REPE LP Title: Senior Analyst, Acquisitions Market: Major coastal (SF/NY/LA) Shop Size: ~100 employees, $10B AUM, nationally-focused Experience: 2.25 years real estate, 6 years non-real estate, RE-focused MBA Product: Core and Value-Add MF/Retail/Office/Industrial Compensation: $110k base, 20% bonus, 6% employer-match 401k

 

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Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

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From 10 rejections to 1 dream investment banking internship

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