What are the $200k+ salaries in commercial real estate?
Looking to plan out my career path past the next couple years and want to figure out where the real money is at. What careers have significant salaries ($200k+)? Also curious about the required experience. My current path is overseeing corporate real estate, not sure if that will help or hurt.
[{"id": "hdngltl", "text": "Become a broker and make $1M / year.", "replies": [{"id": "hdno858", "text": "Explain.", "replies": [{"id": "hdnrdir", "text": "&gt;Explain.\n\n+1", "replies": [{"id": "hdo4cee", "text": "Do 100m in sales and make 1% of that.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "hdnxbo4", "text": "My biggest career regret is not getting involved with the leasing side of the business. Brokers make a killing. Unfortunately there are not nearly as many women brokers as men which makes it much harder to break into. If you can set your focus on becoming a great broker, you can make so much money.", "replies": [{"id": "hdohnrm", "text": "If you haven't seen the broker side of it, I guarantee the brokers are not making as much of a killing as you think. Whatever top line number you see getting paid out, gets split between the tenant and landlord broker, then often split amongst a team, then split with the brokerage, and then you have to pay taxes. Also it can take years for a deal to go from start to finish.\n\nBrokers CAN make a killing, but many are just getting by even if it looks like they are getting big checks from the outside.", "replies": [{"id": "hdozsje", "text": "Like with anything you have to work at it. Take out what you put in.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "hdo0lr4", "text": "Technically, some of us do make $1M/yr but I urge anyone thinking of becoming a broker to remember the following rules of thumb:\n\nYou must be able to go without a paycheck for up to 2 years. Typically most brokers get a significant check within 1-2 years of starting.\n\nYou will need about 5 years to build a book of business.\n\n90/10 rule: 10% of us make 90% of the money.\n\nA good broker (at least out here in Seattle) makes $100k-$200k per year. The best of us can do better annually but it\u2019s the exception, not the norm.\n\nConsider specializing. Some generalists do great, but you can be a specialist with the ability to do multiple things.\n\nOverall if you can succeed it\u2019s a great gig. Loving where I\u2019m at and wouldn\u2019t trade it for the world.", "replies": [{"id": "hdo3h4c", "text": "Nice dose of reality advice!", "replies": [], "depth": 3}, {"id": "hdo8z6f", "text": "On point. Be conversational and knowledgeable in all things, but have a specialty that you are a beast in.", "replies": [], "depth": 3}, {"id": "hdoheyz", "text": "This is very well put.", "replies": [{"id": "hdoifag", "text": "Thank you!", "replies": [], "depth": 4}], "depth": 3}, {"id": "hdqbzfn", "text": "Just finished my first year in the brokerage side of CRE - Luckily my firm allocated a salary &amp; draw option for me. Without this, coming in fresh with no book of business I would have been scrapping my pennies together.\n\nJust got paid on my first 10-Yr medical deal - there are highs and lows, but I love the flexibility &amp; hustle aspect of the brokerage world.\n\nEdit: I got paid a full 5% - paid out in 2 months.", "replies": [{"id": "hpisc7j", "text": "When you say broker, do you mean mortgage broker or a leasing broker?", "replies": [{"id": "hpkace7", "text": "Leasing", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "hdspc3p", "text": "My partner and I made $11 mill (gross income) in 2019. Then, just over $50k this year. So keep that in mind as well. No matter how good you are the market will snatch any concept of consistency right out of your hands within any 2-3 year period.", "replies": [{"id": "hdsqz9b", "text": "$11Mil? Shoot, what product type are you working on?", "replies": [{"id": "hdszk5e", "text": "Office tenant rep with a lottery client leasing 4 million SF over a few years in nothing but trophy class A space for the entire Western US. 50,000 SF space minimum. Some deals were 200,000 at $6 a foot. \n\nOne of my favorite deals took us 3 weeks from tour to signing. $2.7m from that deal.", "replies": [{"id": "hdszr6z", "text": "That\u2019s awesome! I was an industrial broker until I read that about 10 seconds ago.", "replies": [{"id": "hdt7lwl", "text": "Haha. Anyone can find their niche. It's like winning the lottery to rep a tenant like that. I know several industrial brokers making that kind of money too. But it's very cool going up in big buildings for tours. That's for sure.", "replies": [], "depth": 7}], "depth": 6}, {"id": "hmf7qfi", "text": "What are you doing with all the money?", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "he6ung7", "text": "I agree with this. My first few years were tough, and I was trying to do all asset classes. Once I became a specialist (hotels), my income increased dramatically. I don\u2019t make $1MM a year, but I honestly don\u2019t work all that hard anymore. I\u2019ve built a group of clients that provide me enough business to make around $500k off of. It\u2019s also pulled me into the ownership side of CRE, and that continues to lead to additional opportunities. Year 3 is when I started making money on a regular basis.", "replies": [], "depth": 3}], "depth": 2}, {"id": "hdo4g7v", "text": "This is true, but there is a lot of risk. \nThat being said I know and work with a few personally who make well over that.", "replies": [{"id": "hpisnu3", "text": "Leasing broker? (Not mortgage broker?)", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hdngw7f", "text": "Asset Manager, Development Manager, Acquisition", "replies": [{"id": "hdnowij", "text": "Is this really the case? Is this only in the big national REITS? This hasn\u2019t been my experience unfortunately. Perhaps I am underpaid. I\u2019m a VP and still don\u2019t make this much.", "replies": [{"id": "hdntoso", "text": "I would advise updating LinkedIn and setting yourself open to recruiters. \n\nI probably have 2 a month reach out to me and am nearly mid-level in my career. I received an offer this week for a job that I interviewed for because a recruiter set it up. Didn\u2019t plan ahead, didn\u2019t study, just figured it was good practice. \n\nThe point is - now is a great time to job hop.", "replies": [{"id": "hdo8p3d", "text": "Agreed, several inquiries and interviews set up without really putting effort in to it. Switched companies a few weeks ago", "replies": [], "depth": 4}], "depth": 3}, {"id": "hdo8n92", "text": "Even with bonus?\nI make a little over $200k all in at director.", "replies": [{"id": "hdpaxvu", "text": "Nope. Bonus is decent but base is low - not much above $100k. They say jobs are plentiful right now but doesn\u2019t seem to be the case for executives.", "replies": [], "depth": 4}, {"id": "hdpblqe", "text": "I should also point out that there is a documented substantial pay gap between men and women in this industry (well, in all industries to be honest but it is particularly pronounced in commercial real estate - I\u2019ve read several studies on it) - not sure if that is a factor here.", "replies": [{"id": "hmf760t", "text": "Like the poster above said update your linkedin profile and set it open to recruitment and reach out recruiters at firm s you want to work at. You will definitely  raise your pay job hopping", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hdnkrj9", "text": "Become a commercial branch manager RE while you still practice commercial real estate sales concurrently. You bring 2 sources of income.  This is how it works in the trade.", "replies": [{"id": "hdo0qvc", "text": "Branch manager of what?", "replies": [], "depth": 2}, {"id": "hdvntb3", "text": "Go back to the resi subs", "replies": [], "depth": 2}], "depth": 1}, {"id": "hdo8ab5", "text": "Salaries like that (as in not commissions) are likely going to be at RePe shops, family offices, large investment firms/REITs. This is also somewhat location dependent. $200k/year isn\u2019t crazy money in a large coastal city. In my direct experience that would be VP or Director level salary. In my direct experience bonuses also play a large part of compensation, so salary is only part of the picture. \n\nOverseeing corporate real estate? Sounds like asset management.", "replies": [], "depth": 1}, {"id": "hdoiw14", "text": "Good question!!! You go!", "replies": [], "depth": 1}, {"id": "hdooecn", "text": "Here in Newport Beach ca it seems with a few years of experience you can make that much", "replies": [{"id": "he2dbha", "text": "Doing what? Our analysts are starting around $70k. You're not getting to $200K until you're at least 5-7 years of experience.", "replies": [{"id": "he5a1gi", "text": "Obviously not analysts, but more managing roles and I know some associates are getting pretty close to that. If you include bonus it could definitely meet that. There are a ton of real estate companies in Orange County and it\u2019s a very real estate focused area if you just search some job listings you\u2019ll find lots of people making that much in the finance side. Acquisitions, senior valuation associates,", "replies": [{"id": "he5b396", "text": "Yes I work at a dev shop in Irvine. I'm just a bit skeptical of your statement that people with just a \"few years\" experience out of undergrad are pulling in 200K.  Now obviously it depends on what you mean by a few years, but typically I would say that's 2-3.", "replies": [], "depth": 4}], "depth": 3}, {"id": "hjp8vyy", "text": "I\u2019m an analyst for a large firm in SoCal. Is that $70K including bonus because my base is $62K with a 10-15 percent bonus.", "replies": [{"id": "hjpb5do", "text": "That's base. But as I said that's around 70K. It's going to be different depending on prior work and education experience. Some have MREDs and some have 1 year of work experience already after college.", "replies": [{"id": "hjpfsde", "text": "For me I was in financial services industry for 1.5 years right out of college then made this jump. Did I get lucky? I majored in business management.", "replies": [{"id": "hjq6w30", "text": "Your pay seems in line with average RE jobs in the area.\n\n\nWhether you're lucky or not, I don't know. The most important things in RE when you're early in your career are the connections you make, learning new skills, and deal flow. Pay matters yes, but in the long run, those other three items matter way more for lifetime earnings.", "replies": [{"id": "hjq83oj", "text": "Will skills learned as an analyst in CRE be transferable to other analyst job for different companies in different industries?", "replies": [{"id": "hjr89ml", "text": "Honestly I really don't know since I e only worked in CRE my entire career. But it's a niche speciality. So I would assume not too much.", "replies": [{"id": "hjri0vy", "text": "I really want to work for Disney or like a tech company in the operations side. Should I leave the CRE job after 1 year and try to go for a career change? I could also look for a tech based RE company\u2026 thoughts?", "replies": [{"id": "hjrwwbh", "text": "If you don't want to be in CRE, then you need to start applying and networking today to get in the industry you want to be in.", "replies": [{"id": "hjry16v", "text": "I would like to work for Disney. Is this a tough company to get into?", "replies": [{"id": "hjt5250", "text": "I have no clue. But you better really love Disney stuff. I think it's similar to blizzard where the people they hire are all really into the culture. At least that's the case with the people I know that work for Disney.", "replies": [], "depth": 12}], "depth": 11}], "depth": 10}], "depth": 9}], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "iv3j18c", "text": "Btw I\u2019m an acquisitions analyst in SF with a entry level starting salary of 115k + bonus", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hdoopzd", "text": "Asset Manager.  Long hours, a lot of oversight.  Medium floor, low ceiling.", "replies": [{"id": "hp07np6", "text": "Is asset manager the same thing as a development manager?", "replies": [], "depth": 2}], "depth": 1}, {"id": "hdou12m", "text": "I\u2019m not in CRE brokerage but at a consulting firm doing institutional debt and it\u2019s about $200k/yr for a senior role. MD pay is $300-400.", "replies": [], "depth": 1}, {"id": "hdp6hl2", "text": "Focus on in-house, salaried roles at investment firms that make the company money: aquisitions, and leasing. Leasing is probably the easier of the 2 to break into with property management experience but not an MBA, but you need to be good at it. \n\nAn MBA from a brand name school will always be able to get you work. If you go for leasing and you don't have a knack for it, it'll be hard to find the next job with an unimpressive deal history.", "replies": [], "depth": 1}, {"id": "hdpkf9t", "text": "Cmbs/special sitch lending, $200k out of college for analysts. VP\u2019s $4-$700.\n\nMy clients pay approx the same as large PE shops. You\u2019ll see a wide range of PE comp. hours are brutes in our world.", "replies": [{"id": "i017v5p", "text": "Can you explain more? CMBS? Special sitch lending? \n\n&amp;#x200B;\n\nWhat did you study in college?", "replies": [{"id": "i023dki", "text": "Revising VP comp to $5-800k.\n\nStudied finance at a non Ivy school, worked my ass off. Cmbs is commercial mortgage backed securities. Special situation lending in real estate is specialized construction, bridge lending, risky real estate loans, take privates etc. Our construction loans are properties that are known to the average Joe.", "replies": [{"id": "ielhfno", "text": "Do you mind if I DM you?", "replies": [{"id": "ielhiyt", "text": "Sure.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hdponue", "text": "Commercial RE is very much a \"you eat what you kill\" business. Not that many jobs are going to just hand you 200K.", "replies": [{"id": "hfpvarx", "text": "why did this get downvotes? Its true...", "replies": [{"id": "hfq8xmv", "text": "Sometimes the truth hurts? You know on Reddit true but unpopular opinions get downvoted.", "replies": [], "depth": 3}, {"id": "hmf8vet", "text": "Probably because non broker jobs do indeed pay that much at a development/investment/capital markets firm.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hdqr7yy", "text": "I\u2019ve only been working in Valuation &amp; Advisory at a national firm for a short time, but from what I can tell with how much we are billing each month and what fee split you have it\u2019s very possible to make 200k/yr. The base salary isn\u2019t the best in the world but still not terrible, although majority of the pay comes from the fee split.", "replies": [], "depth": 1}, {"id": "hdrnp5r", "text": "Are you talking total comp or base salary?  I\u2019m relatively young and I make just under 300k in total comp in CRE, but on the corporate side.  It\u2019s possible, but the positions can be rare.  The comments regarding the Development Manager roles is pretty accurate, that\u2019s how I broke in.  It\u2019s a position that requires a lot of self drive and a lot of work.  It\u2019s not a 40hr gig by any means, but if you are good people are willing to pay for that skill.", "replies": [{"id": "hgxu7zb", "text": "How many years of experience? I was unaware that Corp RE paid that much.", "replies": [], "depth": 2}, {"id": "j0hkyc5", "text": "Do you mind if i DM you about Development Manager role? Interviewing for role with C&amp;W and would love some advice", "replies": [], "depth": 2}], "depth": 1}, {"id": "hfj3ja7", "text": "Lmfao anyone that plans out a career based on a salary number is in for rude awakening. Good luck ! -commercial broker 10 years", "replies": [{"id": "hfq8tyk", "text": "Yup. You're just one recession away from NO income.", "replies": [], "depth": 2}, {"id": "hjp8rz3", "text": "What do you mean by this?", "replies": [{"id": "hmf794p", "text": "They have no idea what they are talking about", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hhxyl66", "text": "Directors, VPs of retail corporations w/ high net worth (B\u2019s not M\u2019s), doctors, attorneys, congressmen, judges, professional athletes, business owners, some stock brokers, portfolio/hedge fund managers\u2026there\u2019s many careers. Are you willing to spend 15-25 years getting there?\n\nIf not, I suggest you focus on entrepreneurship while pursuing your skill-set to one day establish your own. Most freedom producing careers are of those that are owners and not employees.", "replies": [], "depth": 1}]