I’ve been working as an Asset Management associate for almost 2 yrs with 3yrs non RE related experience..
Firm: 3-4B AUM
Salary: 65k + 20% ( base on performance)
Market : South East ( think ATL, Charlotte, FL)
I feel that I’m underpaid and would ask for a 10k raise at my 2 year mark. What do y’all think?
Any advice is appreciated.
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I know very few people who believe they’re “fairly” paid. Hard to evaluate if you are fairly compensated without knowing the level of your work product and how the superiors at your company see you progressing at the company.
Ignoring that though, almost any company will shell out an extra $10k to not have to go through the hiring process again - especially right now when good talent is hard to find since it’s so easy to get a job anywhere right now.
You're making almost 80k with 2-years experience in a 2nd or 3rd tier market. If this was NYC you MIGHT be underpaid. You're doing fine, focus on learning.
Thank you both.
Check this out:
https://www.adventuresincre.com/salary-commercial-real-estate/
I would say you're underpaid.
An anecdotal data point for you: One of my friends worked in AM for a megafund in Atlanta and started out at $100k base / ~30-40% bonus. He had zero real estate experience when hired (previous 2 yrs IB experience though). They worked him pretty hard though with regular 60-80 hour weeks.
That seems a little light, but not much. For reference we're hiring analysts with 1-2 years of experience slightly above that range but in a major metro with high COL.
Start interviewing elsewhere and see what their offering (usually don't need to actually get an offer, sometimes this is brought up during the phone screen stage). That's the only way to gauge the market for your skill set / experience to see if you're underpaid.
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