My job title is a financial analyst
at a private equity firm.
The salary range for someone in my job is typically between
90 and 150 thousand base and bonus, all-in.
My firm specifically, it's a private equity firm
so they do traditional buyout private equity,
which is the business of buying
public or private corporations
by issuing large amounts of debt.
What I specifically do is I work in the real estate group,
which is what my private equity firm is best known for.
We invest in distressed debt, non-performing loans,
hard-asset real estate, and we also have
a lending platform where we give out performing loans
to performing hard-asset real estate owners
who are trying to do things like develop, renovate,
whatever it may be, to their existing properties.
I build and manage all of our portfolio models
so when we make an acquisition,
depending on how busy we are, I may or may not help
with our acquisition and underwriting team,
but my main focus is the dispositions of assets
and the management of our entire portfolios
once we've acquired them.
Our models are pretty in-depth.
It's within Excel.
It can be anywhere between 10 and 50 tabs,
hopefully lower than 50 because it makes them
pretty convoluted if they get that big.
But, once we've underwritten some portfolio properties,
they've already built-in a certain set of assumptions
for the acquisition.
We have to build in assumptions on my side for disposition,
so we'll build in things like expenses for selling,
broker fees, legal costs, things of that nature.
We'll also build in interest rate expenses,
financing expenses, asset management fees, performance fees.
We have our own internal line of credit
that we have to pay interest on.
We model our distributions to our limited partners,
and we are the general partners,
so to the people within our company
that are getting paid by our distributions as well.
That's sort of where my area of expertise lies.
There are very many times where I have to learn new things
within Excel, within real estate, within finance,
whatever it may be, and the harder it is
the more I enjoy it.
I don't like the more administrative, repetitive things
that come with any job.
But, the stuff that really makes me happy to go to work
is knowing that I'm gonna get pissed off a lot
because I'm gonna be challenged a lot about something.
You get frustrated, and you get mad,
and I'll yell profanities every now and again
at my computer screen,
but that is what I actually enjoy doing
because at the end of the day when you complete
whatever it is that you're trying to do
after struggling through it
and having to learn a lot through it,
that's when I think you learn the most, number one.
And when you really kind of put yourself at your peak
in terms of your performance.
When I first was applying to jobs and I had an internship
in New York between my junior and senior in college,
I worked at a trading firm and it was by far
the most terrifying experience of my life.
I was completely horrified of my boss,
but he was a great guy.
I don't have anything against him, he helped me quite a bit.
But, it was just an overwhelming experience
and I was thinking, oh, this is finance in New York,
it's super intense.
I was like, I'm not prepared for this.
What I learned after moving to New York
and working full-time in finance
was that really what I think are the best traits to have
is number one, you have to be likable.
I mean, I know people always think,
oh, you have to be a genius to be in finance, math.
I mean, people outside of finance.
I could tell you from first-hand experience
you do not need to be a genius to work in finance.
What I've noticed is that people like to hire people
that they like being with.
I mean, it doesn't matter if you're
the smartest person on the planet.
If you're not an enjoyable person to be around,
people don't wanna hire you.
Past that, you need to be
very detail-oriented and organized.
That's something that I've had to work with
because generally I've been good at
just keeping things in my head
and always being able to remember it,
but when you have a lot of things on your plate,
you need to actually properly organize yourself
and schedule yourself so that you don't forget anything
or that you don't miss something that
even if it's not super important,
it can make an effect on someone.
It can give an impression that you are lazy,
or not lazy, or you're super on top of the ball.
That's something that you need to be wary of.
Then, like I said, detail-oriented is hugely important,
that's something that I've also had to work on
because my boss, she's so incredibly detail-oriented
it's not even funny.
It's very impressive.
If you have an email that you're sending to someone
that's of high importance, that needs to be properly worded,
grammar needs to be great, but whatever you're sending them
needs to be very well done as well.
Whether it's a simple Excel sheet, or a Word document,
a very extensive Excel sheet, you may think that
you've gone over it once and then that's good,
but if they go through it and they find a mistake,
they may not trust any of the work that you send them
for quite a bit of time onwards.
I learned that the hard way when I was a little bit younger.
That's something that I've tried to be
very, very focused on, and my boss is extremely encouraging
and helpful, and she gives me a break
when I make these mistakes, but those are things
that people really, really care about.
If they find even the smallest mistake,
it deters their trust of you,
and that's something that is hugely important.
That's not something that I thought about
when I was an intern, or even when I was early on in my job.
Being hardworking, no one wants
to have someone who's lazy, obviously.
And that goes without saying.
That shouldn't even really be something that I bring up.
You need to be hardworking if you want to do well
in any job, regardless of the industry or specific area.
I've gone home at two in the morning just to come back
the next day at six to make sure
that something is out at nine.
That's sort of just the nature of this industry,
especially within New York.
There's no sympathy for the late hours.
If they set a deadline, they need it to be met.
I think that's just, again, it comes with the territory.
Depending on where you work, some companies pay
extraordinarily well.
Some, if they're maybe a smaller boutique firm,
may not pay as much, but, in the same breath,
some small boutique firms that are very high-caliber
will even pay more than some of the largest firms.
It really is just dependent on the culture,
the management, or whatever it may be.
I guess a typical range, all-in bonus, salary,
everything all-in for a financial job for someone my age
is typically between 90 and 150 thousand
depending on what group, within a bank,
or a private equity firm, or whatever it may be.
I'm not giving you my exact salary
because I guess within the world of finance,
it's negotiable to some extent.
It's just something that's been frowned upon
within finance, as far as I know,
to publicly display your salary in a way
that someone could potentially
hold another company accountable to say,
hey, why am I not getting paid this,
or why am I getting paid this and someone else
is getting paid that much more than me, whatever it may be.
Bonuses depend on discretion of your manager,
or your boss, I should say.
Your annual salary increase, if you wanna call it that,
I mean, it's probably 5% maybe, something in that range.
But, if you get promoted, obviously, it's more.
A lot of times you can ask, you may get shut down,
you may be welcomed with open arms for more money.
It really just depends on how you are perceived
within your company, if your company is even open
to doing things like that.
Some companies will just say no no matter what.
Even if you're an absolute all-star.
It is really dependent from company to company.
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