Ackman Ziff
I have heard great things about people that have used them for advisory services, but can anyone speak to how it is working there? Anywhere from being an Associate level to higher level originator.
Thanks.
Multiple friends have or do work there. Good culture. The team is split between originators and executors. The originators are either salary + bonus or straight commission. They let you choose the set up if you are an originator. Supposedly a team culture / atmosphere. Many people start on the execution team and use that to see deal flow / learn and than jump to the buyside. To move up, just like any brokerage, you need to win business and originate.
Former AZ analyst. Its a great opportunity to learn a lot of things, but definitely not all rainbows and roses. You'll see tons of deals of all different kinds and the sponsorship will generally be fairly institutional. The debt side is reps more than anything, so this is a great place to get those in. You'll see probably about 1/3 construction paper of all kinds of assets, 1/3 bridge off construction of all kinds of assets, and 1/3 of everything else. You'll likely get exposure to some cool niches like cold storage, or destination hospitality assets, and lots of SFR. Management forces originators to write a detailed closed deal memo as a condition of receiving their fees. The folder of closed deal memos is one of the greatest learning opportunities you'll have. You'll also get to sit in every meeting with capital sources, which is a very good way to learn what the market is looking for and over time, really gives a lot of insight on where market trends are headed and what products are in favor/coming down the road. For some reason the culture here is crazy geared towards early mornings - the office is full by 8am. That said, its generally dead by 7pm, so its made up for on the other end. The senior origination guys are all super sharp and super well connected, with no exception. Make sure you really go out of your way to build relationships internally, because these guys will be able to have a positive influence on your career whether or not you're still at AZ.
Its very collaborative for a brokerage (especially for the originators and execution guys) and management goes out of their way to force brokers to split fees, etc when there are conflicts to keep all happy. At the junior levels, however, the politics here are crazy. Roughly 2/3 to 3/4 of the bullpen (analysts and associates) are relatives of influential real estate people (the usual mix of clients and capital sources), and it trickles through to everything. It'll affect what deals you get staffed to, promotion opportunities, etc and those waters can be tough to navigate if you're just a regular person without a built-in network. If you're not an openly Trump Republican and Jewish, you'll be one of a tiny minority. The new-ish COO is completely and utterly insufferable and is unfortunately who you'll be reporting to as a junior employee. Feel free to ping with any specific questions.
Thanks this was really helpful. Regarding originators, is there a lot of bias with senior originators vs. ones that are more junior? Like as in chasing clients etc.
Wondering, what is comp for an analyst there?
great write up..thanks!
can you just further expand on the 'detailed closed deal memos' and what information they usually consist of? how many pages were they and why is it so important?
Hey, I'm interviewing for an Associate position there right now. If you could pm me, I'd appreciate if you could fill me in on the COO/culture.
How'd the interview go for you? What was your first round like?
bro, I just had a great conversation propositioning myself as a new broker, trying to work in investment sales at Ackman-Ziff.
from your experience, is there anything I might be able to show for myself in terms of being a value-add? I see it as a huge opportunity to join this firm and I think I have a real shot as a new broker.
Interviewed with the newish-COO and she was unpleasant to say the least. However, Simon and the rest of the brokers were cool.
Was quoted 100 base + 50% bonus for 1st year associate, which was lower than expected. Didn’t move forward due to market timing / comp package as the offer wasn’t good enough to be lowest on the seniority totem pole if recession based cuts came.
Can anyone shed light on their 9 - 12 month analyst program?
Bump
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