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Anyone know anything about these offices (or would like to speculate)? Which would pay the most-and how much salary and bonus can real estate IB analysts expect? I'd like to stay in real estate, so I have no problem being coined a real estate guy.

Comments (12)

  • Prescott Moncrief III's picture

    Analysts and associates in MS RE do both IB and PE. It's also probably their third most respected industry group behind Tech and Sponsors, and because of the feel you get as an analyst for both the buy and sell sides of things, some would argue that it's on par with the two aforementioned groups. While normally people in banking would frown upon Atlanta, for RE that is definitely not the case. While no NYC or SF, it's still going to see good deal flow.

    JP Morgan LA is very small, and while their RE group is not bad, it is no Morgan Stanley. But, IMO, MS RE is number one, so no one really is.

    If you're into Real Estate, both options are very good, though.

  • Prescott Moncrief III's picture

    What criteria exactly are you basing your JPM RE = MS RE on?
    MS is #1 in RE M&A advisory
    MS is #1 in CMBS underwriting
    MS is in the process of raising the largest RE PE fund ever ($8 bn), and was #2 only to Blackstone (because of EOP) in RE acquisitions last year. No other investment bank (not even Whitehall) was in the top ten. All in all, MS RE has something like $75 bn in assets under management. As the RE group you will be dealing with at JPM has no PE operations, MS is clearly the winner here.

    And no, Atlanta is far from being a joke in RE. The MS RE offices in Atlanta are in control of everything as far west as Texas, as far north as Virgina, and as far south as Florida. In the end, obviously this is a decision you will have to make on your own. But if your long-term career goal is RE PE, MS is 100% the better option here.

  • Prescott Moncrief III's picture

    Notice I said 100% if you are interested in RE PE, which it is, as you will actually be involved in RE PE at MS, which is not the case with JPM.

    And as far as CMBS, JPM is a top shop, no doubt. That's why I did not say that MS ATL is definitely the better option if that's what you're interested in (although I still believe it is). Regardless, MS has been the number one underwriter of CMBS every year since 1997, and thus I still say they're the best in the industry. With regards to turnover, JPM CMBS is seeing just as much turnover up top, and honestly turnover is something inherent in the industry.

    Lastly, I am sorry but I cannot agree with you that Atlanta is a dead end location. I will reiterate that it is indeed not, and that you are mistaken for believing so (for the reason I mentioned before).