The development team is responsible for finding new development opportunities, planning and budgeting the development, and seeing the development through to completion. You can think of it as a combination of acquisitions (finding and underwriting a new opportunity) mixed with asset management (overseeing the actual development of the property).
As a junior member of the team, you will be responsible and accountable for working on development projects from inception to closing. Your job will include:
Obtaining the correct numbers is no easy task and will require a lot of research and coordination on your part. The future performance of the property, and possibly your bonus, will be measured against the baseline business plan and financial model you create.
The hours and compensation for a junior-level development employee will likely be similar to those of his/her acquisition counterpart.
Interview with a Development Associate
This interview is coming soon!
Analyst (0-3 years)
Associate (3-5 years)
Vice President (5-8)
Managing Director (9+)
Real estate compensation is highly dependent on location, type of real estate company, and company size.
Analyst: ~$60k base + 15% bonus
Associate: ~$100k base + 30% bonus
Vice President: ~$150k base + 50% bonus
Director: ~$175k base + 75% bonus
Managing Director: ~$225k base + 100% bonus