Vice President acquisition comp - Is this a market salary?
Wondering if my salary is market or underpaid etc. Also wondering about carry.

Major market 
5 years development/acquisitions+3 years leasing + MRED
Small shop 8 people
Running acquisitions, sourcing/closing deals, dealing with any am stuff etc. Doing some development management.
150 base + greater of 15% of Acq fees/30%+ 4% promote. Acq fees may be another 50-75k.


We are a developer raising deal by deal so no funds. We have projects in different stages but around 750 units overall once everything is completed.

Is this market? My promote gets eradicated if I leave and will not be paid out and there is no vesting. Is that normal? We're buy and hold so not sure if I'll ever see that unless we crystallize. Seeing much higher comp elsewhere so not sure what to think.
[{"id": "ikv3fk6", "text": "Sounds super low", "replies": [], "depth": 1}, {"id": "ikvaovi", "text": "I spoke with a recruiter a couple weeks back and heard that non-NYC hospitality VP roles are usually $150-$225 base plus 30-40% bonus, and promote is hit or miss. I would guess that multifam would command a bit higher total comp, but you would still be on the low end, but not below market.\n\nI'm used to hearing that promotes vest over 3-5 years and wouldn't be eradicated if you leave. Talk about golden handcuffs.", "replies": [{"id": "ikxw6x4", "text": "3-5 years of tenure, or 3-5 years after a deal closes?", "replies": [{"id": "ikye0n7", "text": "After a deal closes", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ikvv0bv", "text": "I would not know about the pay structure but I do have a question. \n\nI am about to start a MRED program at a great school and hope to work with a developer in the near future. My question is what would you expect a development associate salary to be for a small group (7-15 guys) in a tertiary market. My gut tells me 60-70k.", "replies": [{"id": "ikx89qa", "text": "Real estate recruiter here - depending on the company size and asset class they typically operate in it could be from 60-85k", "replies": [{"id": "ikyiobu", "text": "Thanks it would be with a multifamily group.", "replies": [], "depth": 3}, {"id": "il0vbgf", "text": "How about comp for acquisitions manager in single family residential for a land developer or  home builder?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ikx8p6w", "text": "RE Recuiter here. Seems like the low end of market. I\u2019d guess that you haven\u2019t moved jobs much if at all?", "replies": [{"id": "ikxs9so", "text": "I haven't. What do you think would be fair? And what would you think would be a fair vesting schedule for promote if we don't have funds?", "replies": [{"id": "ikxwpr1", "text": "I would really need more information to know what would be fair - like seeing a resume and deal sheet if I\u2019m honest, and knowing exactly what your making in terms of bonus/promote/acq fees.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ikxggnf", "text": "Yes, the promote should vest. If evergreen fund, then then they should have internal crystallization.", "replies": [{"id": "ikxs58h", "text": "As mentioned we don't have a fund. What do you think would be fair schedule to vest?", "replies": [{"id": "ikxud5y", "text": "Despite evergreen, your promote vests over 4 years no matter how long they hold the deal or they buy you out after 5 years of leaving at xx discount rate at current appraisal they do yearly.  Just hope they are not assholes that would tell the appraiser to lower the value the year or fictitious sale!  It could also be midpoint of last BOV / appraisal, etc. \n\nThe promote as given is carrot on a stick to keep you around for ever but you won\u2019t get it!!  \n\nThe fact that it\u2019s not a fund structure is better as you can look deal by deal!  You just have to understand how the promote is calculated, etc", "replies": [], "depth": 3}, {"id": "ikxvfe9", "text": "You don\u2019t want to get tied up if this gets shit with your boss and you have a million or two in promote after 3-5 years of doing deals, but due to ego you piss off the owner or your boss and it becomes toxic, now you are fucked and can\u2019t get a dime of money owed.  You definitely want that promote to vest, stocks given by public companies aka RSUs vest over 4 to 5 years, so not sure Wtf real estate wouldn\u2019t vest!  Even if you leave, you should get the full monthly share if the deal until they sell the deal.  If a deal is held for 10 years, they should be able to buy you out at refi or some mile stones.   Don\u2019t get f**ked!  I worked for a shit syndicator during Covid that had a lot of carve outs in my promote, I left 20 days before my vesting schedule went from 50 percent to 75 percent, it was so toxic!!  I literally had to sue those mother fuckers!  Be careful who you join and how you structure the promote!  That\u2019s leverage or carrots based on if it\u2019s a good deal!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ikyem0r", "text": "Typically your promote should vest 20-25% per year starting within 1-2 years of the deal closing.", "replies": [{"id": "ikzb9z2", "text": "How would it be calculated though? Based on the existing deal performance what our promote would be if we sold it?", "replies": [{"id": "ikzbn03", "text": "The ownership interests in the promote vest, but the actual promote gets paid once the property is sold (there are some exceptions to that).", "replies": [{"id": "ikzc129", "text": "But if they didn't sell and I left and it had vested x% they would have to pay me out? And if so how would that be calculated? That's what I'm trying to figure out. Thanks!", "replies": [{"id": "ikzcwko", "text": "Not quite. It wouldn\u2019t get paid out when you left, if the property hadn\u2019t sold. You would own interests in some kind of entity if you left though, which would eventually receive distributions from the promote payments\n\nIf the business plan is hold forever, you\u2019re starting to get outside my wheelhouse. I suppose there could be a promote crystallization concept based on an appraisal or something.", "replies": [{"id": "ikzg9bs", "text": "Got it. Thank you, very helpful.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]