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April 30, 2024
9 Free Financial Modeling Lessons
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Yes. You can leverage your understanding of cash flows, modeling, etc., but you'll find it tough to break in without using an MBA to set you on track. There is an excess of bankers out there right now.
Thanks!
MBA no doubt. And just curious, what market are you in (geographic) and what is your exact motive? I'm at odds between commerical real estate and banking/other top finance areas. If you don't mind could you either post here or PM me specifics. I'm well versed in the pros and cons of each, just want to hear your opinion, and mainly compensation data haha. Thanks in advance and good luck!
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Interesting. Having come from banking, I'm actually considering getting into CRE. I didn't care much for the banking hours or culture. I'm also curious about compensation data though, like droking7 is. Any more info or suggested reads would be great.
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I dont agree at all with the comment the "CBRE is the Goldman Sachs if CRE brokerage." That is a huge statement and first off, isn't true and secondly, it is very complicated to explain to someone if they don't know how the brokerage world works.
Yes, CBRE is the largest real estate services firm in the world. They are everywhere, literally. But that isn't really a good thing according to a lot of people in the industry. Most of the people working there are brokers who make commission. Bigger does not mean better. The CBRE brand is VERY corporate. In order to move up the ladder you have to put in years and deal with a lot of red tape. I used to work at CBRE and the firm itself isnt entrepreneurial at all like some other brokerage firms. There are pros though...
CBRE is known for their corporate services brokerage(large scale leasing and portfolio investment sales). Comparing them to Goldman Sachs doesnt make sense at all. GS is the most respected IB in the world and whose average employee makes 500k. The average CBRE employee(including brokers) makes probably 45k.
I am not trying to rag on CBRE. If you want to go into leasing, you could consider them. They have a pretty good Capital Markets division too.
Brokerage is all about networking. It literally isnt how smart you are at all, it is nearly all about who you know(or who you are related to). So, the most important thing is getting onto a solid team and then beginning to network yourself because eventually you are going to be asked to produce.
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I am more interested in careers in real estate development or investments, and less in brokerage. I think the traditional brokerage model will be replaced sometime in the future with some sort of technology. Also I personally don't find it interesting to be a broker.
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Nearly everyone in finance would jump at the opportunity to work at Goldman Sachs.
You can't say the same for CBRE.
They are two different animals.
CBRE is only well-known to the public because they have locations everywhere. Its more quantity over quality. They want to be everywhere. Thats their "brand".
Goldman Sachs is well-known because of their quality. Thats their "brand."
I'm not really dissing CBRE, they have some solid business units. But real estate brokerage and investment banking arent comparable.
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