Mid-market Corp Fin to Capital Markets at JLL/Savills/CBRE?
Hi
I've been an analyst in the IBD at a Benelux mid-market Corp Finance team of one of the big local banks in the area, and am considering to move to a different role at a different shop.
I've been invited for an interview for an analyst position in Capital Markets (not valuation) at JLL/Savills/CBRE, and am wondering whether I should consider this. It sounds like less hardcore financial work and much more commercial (something I have learned to enjoy more than hardcore analysis/modeling). Would givee the opportunity to work with some big international investment funds.
From what I've heard from the recruiter and considering my experience, I was told that I would be an analyst for 6-12m to than move quickly to an investment manager role. Pay is good with great uptick in manager role and work-life very good from what I've heard.
As I don't intend to make the classic move towards PE, and would rather move to another bank/public equity fund for an investment sales-like role or keep doing M&A/ECM/DCM for a couple of more years, I am wondering what exactly RE has to offer these days and what the exit opps are after say 3-5y in such a role.
I don't have a lot of affinity yet with RE (worked on a couple ECM transactions in the sector but that is basically it). However I did get the impression this is mostly learned on the job and that lack of experience in the field was definitely not a deal-breaker.
Inclined to not pursue due to the fact that I'm not convinced that RE might be the perfect sector for me.
Any advice? How do the following rank: JLL/CBRE/Savills
Thanks in advance!
You should go on the interview for sure, at worst, you learn more about the position and the industry.
Overall, I would only take this type of a role if you want to transition to RE fully, going back to back to banking or corp fin is possible, but really doesn't make sense to leave if that's your goal. Exit opps? I mean, do you not think this is long-term? You can be promoted to production and get to work your own deals (can be big pay, if successful). Some people move to REPE, investment mngt, or even development, just depends on desires.
I am not sure I am following the promotion to "investment manager", generally capital markets at these firms is code for investment sales and/or capital raising/brokerage. Investment management is a whole other department (generally firewalled from the brokers).
All three are considered top RE firms, JLL and CBRE are bigger names in the US and globally, Savills is big in Asia and Europe (getting bigger in US). People don't try and "Rank" firms like in IB, its really pointless in RE. The reputation of the team you work on is what matters, that's what determines deal flow. CBRE can be number 1 in one market/property type, but not in top 5 in another. Real estate is more local, asset driven.
Hope that helps some! Good luck.
Curious what are your thoughts on Savills in markets like New York? I saw they were poaching a lot of great talent from CBRE and others a few years ago, but have not seen many deals closed from news online. Any insight into their capital markets team there?
So, I am not really active in the NYC real estate market (despite being located and HQ'd here), thus, I am not a person to ask on thoughts of brokers in the city.
With that caveat, I mainly know of Savills in the US as tenant rep type shop, not so much as cap mrkts. They have a big global brand, but small presence here. Not surprised they are picking off talent from the CBRE's, that is how those new market entrants can grow.
May be a great place to get in with if they keep growing... is in, easier today than will be in a few years.
Message me.
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