Maryland real estate company surprises employees with $10 million bonus to split

[oldsoftie]

Source: YahooFinance

St. John Properties, a Baltimore-based commercial real estate property management and development company, provided a $10 million bonus for its 198 employees to split at its annual holiday party on Dec. 7.

“The [bonus] distribution was based solely on years of service. It had nothing to do with a person's position in the company,” Larry Maykrantz, president of St. John Properties, told Yahoo Finance in a phone interview. “We spent a little bit of time discussing it and believe me, once we made that decision, we realized that was the only fair and equitable way of handling this.”

Individual employee bonuses ranged from $100 to $270,000, according to the company’s LinkedIn post. On average, each employee received about $50,000.

Read more: https://finance.yahoo.com/news/10-million-bonus-company-bonus-maryland-012153557.html

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Nice to post good news for a change

[dewsgirl]

1. Wow lucky employees. I was happy if my husband recieved

a $100 dollar Christmas bonus.

[oldsoftie]

2. Think they'll be inundated with job applications?

[dewsgirl]

3. Yes.😊

[Hawaii Hiker]

4. Wow, most companies you're lucky if you get a Xmas luncheon

and maybe a $10 gift card..

[bucolic_frolic]

5. Somebody paid them a lot of money for their services

If I were a customer I'd wonder if I overpaid a little.

[DFW]

6. Do you know what their volume was?

If they did $5 billion in business a year and made a 1% margin on their trades after expenses, that means they made $50 million. I'd be happy to deal with a company that worked on that kind of a margin.

You can only know the answer to what you're wondering after knowing what their annual turnover is.

[bucolic_frolic]

9. It's not something I really worry about

I was more illustrating a point that profits ultimately are paid by people. I try to find room to get a good deal here or there. Not that I begrudge businesses their profits, I just don't want to pay the highest one of the month.

[DFW]

12. If they were able to pay their employees THAT kind of bonus AND were willing to do so

It's unlikely they got that successful by gouging their customers. A real estate company is nothing more than a service provider. If their service sucks, word gets around fast and they will fail when the customers go elsewhere. Besides, a company that turns around and voluntarily shares $10 million of its profits among its 200 employees is hardly one likely to be run by greedy, selfish, predatory businessmen.

[marble falls]

7. What are the conditions of their properties like? What are the wages of the regular employees like?

[PatSeg]

8. Thanks for posting something upbeat!

[csziggy]

10. St. John Properties is a very large company

Established in 1971 by Edward St. John, St. John Properties has evolved from a small, local real estate developer into one of the largest and most successful privately held commercial real estate firms in the Mid-Atlantic region.

Our real estate investments are valued at more than 3.5 billion dollars, and we proudly serve over 2,200 clients across eight states including Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Utah, Virginia and Wisconsin.

During our 48-year history, our portfolio has grown to 20 million square feet of real estate consisting of class ‘A’ office, flex/R&D, retail, warehouse and residential units. We continue to expand our portfolio, explore new markets and constantly evaluate new business opportunities.
https://www.sjpi.com/company

Edward St. John was named Baltimore CEO of the year this year:

March 8, 2019
Baltimore Business Journal’s 2019 CEO of the Year: Edward St. John
Baltimore Business Journal | Melody Simmons

<SNIP>

Ed St. John has a succinct way of summing up his many decades in real estate development.

“I play Monopoly with real money and real buildings,” he says. “I don’t work. I play Monopoly and that’s why I’m still here.”

If that’s the case, the patriarch of St. John Properties has built a life-size game board of 20 million square feet of office, retail, warehouse, flex and residential properties in eight states worth more than $3 billion.

He is both stoic and quick witted, arriving regularly at the office in a Chevy Suburban with a gym bag at the ready for his daily workout. At 81, St. John is regarded by his peers as a visionary and teacher whose role as a major philanthropist has cemented his legacy.
More: https://www.sjpi.com/awards/baltimore-business-journals-2019-ceo-of-the-year-edward-st-john

It seems as though they do all their planning and maintenance work in house. Here are current open positions:

Available Positions:
BALTIMORE, MARYLAND

Building Engineer | Designer/Space Planner (1-3 years experience) | HVAC Technician | Laborer | Real Estate Investment Analyst | Property Administrator


FREDERICK, MARYLAND

Maintenance Technician | Project Manager – Tenant Interior


PLEASANT GROVE, UTAH

Interior Designer/Space Planner

https://www.sjpi.com/company/careers

[AllaN01Bear]

11. wozers.

[Aristus]

13. The bad news: the company has ten million employees.

[benld74]

14. Individual employee bonuses ranged from $100 to $270,000

Better than nothing tho

[TexasBushwhacker]

16. The one who got $100 was a new hire

The one that got $270K had been with the company over 40 years. The average bonus was $50K.

[elleng]

15. 'Established in 1971 by Edward St. John, St. John Properties has evolved

from a small, local real estate developer into one of the largest and most successful privately held commercial real estate firms in the Mid-Atlantic region.

Our real estate investments are valued at more than 3.5 billion dollars, and we proudly serve over 2,200 clients across eight states including Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Utah, Virginia and Wisconsin.'>>>

https://www.sjpi.com/company