房地产私人产权- First Job
Hi everyone,
I recently accepted a job working for a real estate private equity firm in the south which is in asecondary market。The firm is small ( think 4-5 people) and very young (
Nov 14, 2015
Nov 14, 2015
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2023年2月bob竞技体育游戏
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Lazard Freres（（+ +） 99。5%
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Jefferies & Company（（▽01） 99.1％
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金融技术合作伙伴（（= =） 98.6％
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林肯国际（（▽02） 98.1％
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William Blair（（▲10） 97.7％
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2023年2月bob竞技体育游戏
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Canaccord Genuity（（▲04） 99。5%
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William Blair（（▲04） 99.1％
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林肯国际（（▲10） 98.6％
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斯蒂芬斯公司（（▲11） 98.1％
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Jefferies & Company（（▲06） 97.6％
专业增长机会
2023年2月bob竞技体育游戏
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Lazard Freres（（▲15） 99。5%
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金融技术合作伙伴（（▲09） 99.1％
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林肯国际（（= =） 98.6％
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Jefferies & Company（（▽03） 98.1％
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William Blair（（▲01） 97.7％
Total Avg Compensation
2023年2月bob竞技体育游戏
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Director/MD (6) $592
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Vice President (26) $422
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Associates (138) $262
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3rd+ Year Analyst (9) $ 194
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1st Year Analyst (260) $ 171
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2nd Year Analyst (84) $ 170
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Intern/Summer Associate (42) $ 166
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Intern/Summer Analyst (189) $91
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99.2 |
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99.0 |
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99.0 |
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99.0 |
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99.0 |
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98。9 |
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98。9 |
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98。9 |
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98。9 |
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Comments (17）
If you didn't say small, I'd ask if you work where I interned this past summer. You're giving me flashbacks of being voluntarily poor for 4 months.
Pay is relative though. What are your responsibilities? What city are we talking? It is definitely low, don't get me wrong, but depending on your city that could be "market" for an analyst with no experience in your city. The important thing in real estate is that experience and the connections you make from it, so in 6-12 months, you can always look for a new job with a much more normalized salary.
Commercial Real Estate Developer
ThankscrEfor the advice. I don't want to give out too much info but its a large city in Texas. Right now I work directly under theDirector of Operationsand I'm just learning the lingo and my job responsibilities are all over the place it seems. Its a very small firm so people "change hats" quite often. Yep, I've come to the same conclusion that you did. I'll give it 6-12 months. What do you think a normalized salary would look like for my region?
工资取决于公司/产品类型/销量/公司规模。因为它是一家新的小商店，我对薪水并不感到惊讶。许多大小/年龄的商店都会分析他们的分析。
For the opportunity to getPEexperience right out of school I'd be more than happy with the pay. Considering the relative difficulty to break into the investment side of the industry at such a young age you're in a good place. Many people spend a couple years as a research analyst or broker then have to hustle into aPErole, assuming they have the cred/connections to do so. If they don't have the cred/connections they end up back in B school.
有很多很棒的abo血型和免费信息ut RE investing and finance online. I would start by simply doing a google search (or a search on these forums) for basic financial theory and modeling info. Since each investment/development is negotiated/structured differently, a lot of your learning will be on the job; but that's OK because it's the most valuable type of learning anyway, IMO. The following are basics and should get you started: cap rates,NOI, return on cost,IRR, cash on cash returns, discount rates, time value of money, debt service coverage ratio (DSCR), loan to value, equity joint ventures and general partners in (RE) investing, discounted cash flow (DCF）分析，并了解贷款如何摊销。
As far as career advice is concerned, I would run with this opportunity. Grind it out for a couple years while networking with other people in different areas of RE. Learn from the people you meet where you'd like to end up. A largerPE公司，REIT或开发公司几年后将是合乎逻辑的举动，尽管不是唯一的行动。也许您目前的角色也会变成一些东西。你永远不会知道。
Thanks Coolhandlucas for the advice. Yeah, I'm going to grind it out and learn as much as I can. On one level it hurts to think I spent so much time in school only to graduate and get a job which pays significantly less than what my brother who has no college degree makes but this is an excellent learning opportunity which I haven't seen available elsewhere to someone with my background and no experience.
房地产salaries are never the best though because getting a salary isn't a goal. You want to get the experience and connections and then head out on your own
Commercial Real Estate Developer
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Learn moreThey are paying you what they are paying you because they likely can't afford much more. It may stay that way for a long time. It's good initial experience but if they haven't given you a raise after a year I would get out.
I wouldn't call this REPE, sounds more like a few guys raising money from family and friends to flip properties.
I started my career in TX almost a decade ago and my first job out of school (appraisal) had a starting draw that came out close to that level. However, once I went straight fee (about 6 weeks in), I was doing way better than that - close to 2x).
You said secondary market, so I'm assumingSAor Ausin. For those markets you are still probably underpaid a bit. But since you have no experience, if you can hang in there and get some contacts it might not be the worse thing in the world
Thanks mrcheese321 for the advice. Yes, I'm going to be hanging in here for 6-12 months. There is virtually 0% chance I'll be making 2x what I'm making now in 6 weeks. My plan right now is to learn as much as I can, read linnemann, and getbetter at excel modeling。我一直在仔细研究其他分析师工作的工作要求REPE就我有限的知识而言，似乎许多公司都希望您认识Argus。我不确定这家公司是否使用，所以我必须问。我确实知道他们使用resimodel（如果有人听说过），我会接受一些培训。
Again, my plan is to get some actual leverage through experience so I can market myself down the road if I won't be compensated at a normal level with this firm.
I'd look at the position as somewhat of a post grad internship where you're getting paid. You have no experience or knowledge so they're teaching you the business as you're getting paid-in my day when t-rex's roamed West Texas a lot of small RE shops wouldn't have even paid you at all. You have the right attitude about sticking around for 6-12 months, learning as much as possible and most importantly build your network. Real estate in your situation especially is a very local game and the community is usually very small. Since it's a small shop get yourself in as many meeting with outside people as often as possible. Get to know the players-the brokers, lenders, other investors/developers, etc. And really get to know them: take them out for a beer, see if you can get invited to golf, take advantage of your firm's service providers (brokers, appraisers, prop management firms) and tap their networks-those guys are usually the easiest because they're selling services to your firm and they see you as a young person in the industry as a possible future source of business. Get invited to the industry events: brokers are always throwing open houses and if it's a big new development or shiny office tower they can be pretty big and a lot of industry people of all stripes will attend them. Look at joining an industry group and getting to know people through that. Real estate, especially in secondary and tertiary markets does not require the "prestige" crap like Ivy schools and Goldman on your resume. And real estate is a pretty basic industry: it's not very difficult to get all of the technical knowledge down pretty quickly so it quickly becomes more about who you know and how well you know your market.
可能看待该职位的另一种方法是，您可能会在可能成长的东西的底层中进入。如果您认为这些家伙要去某个地方（即使您不这样做），请帮助他们建立公司，使自己成为团队必不可少的一部分，看看您是否可以增加工资/奖金或更好地获得总体上或公司中的一项行动。如果公司成长，您在6-12个月的时间范围内看到了未来这个数字，不能告诉您市场，但要说50-60美元，但是您希望通过随着交易或费用的增长而获得上涨空间。一般而言，企业家像这种类型的员工，尤其是房地产公司。显然，他们可以将其开销保持较低，但这也表明您希望您的兼容性反映您的努力，而不是作为某人只是为了兑现薪水。而且，您可以通过一项动作来个人赚更多的钱，而不是作为每月两次兑现支票的人。
Good luck.
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