How much can you earn as a structurer of commercial mortgage backed securities in London? One recruitment firm spills the beans.
"The pan-European real estate market is growing fast and London is at the centre," says Timothy Rowe, managing director of London-based Cobalt Recruitment. "The amount of hiring is ridiculous - it's a candidate led market."
The most sought after profiles are reportedly the elusive German speaking CMBS originator and structurer, which Rowe says can command 10% to 15% above the market norm.
Just what is the market norm? The figures below, taken from Cobalt's study of 500 people working in the commercial mortgage backed market over the past 12 months, may provide the answer.
Analyst CMBS Salary 45,000 to 60,000, Bonus 30%-60%
Associate CMBS Salary 60,000 to 75,000, Bonus 50%-75%
Associate director (VP) Salary 75,000 to 90,000, Bonus 65%-150%
Director (Senior VP) Salary 90,000 to 120,000, Bonus 100%-200%
Managing director Salary 120,000 +, Bonus 300%+