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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 (18)

  • relinquo's picture

    a bit harsh, no? is there a reason for the hostitliy or is it random?

  • 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.

  • Back That Asset Up's picture

    JPMorgan RE = MS Real Estate. JPMorgan CMBS = MS CMBS

    LA > Atlanta any day. Atlanta is a joke for Real Estate.

  • 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.

  • anonrock's picture

    Yea, I was under the impression that the RE ATL office is in control of everything in the southeast (florida to past texas) and more.

  • In reply to Prescott Moncrief III
    Back That Asset Up's picture

    I am referring to CRE CDO's and CMBS. CMBS production is essentially the same for MS and JPM. MS has turnover in CMBS up top and it will be hard for them to maintain their spot.

    Stop misleading other people. Atlanta is a deadend location. 100% better is too strong.

  • 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).

  • GenghisKhan's picture

    pwmtoIB:
    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.

    J.P. Morgan is a relatively small shop in LA, and has traditionally been a generalist regional coverage shop, which isn't really segmented into industry verticals. Real Estate is a small group at JPM, even in New York.

    The concept of "JPM LA Real Estate, Gaming & Lodging" is, I suspect, more fiction than fact.

    Other than pointing that out, I'll stick with my policy of not commenting on comparing firms.

  • In reply to GenghisKhan
    pwmtoIB's picture

    GhengisKhan:
    pwmtoIB:
    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.

    J.P. Morgan is a relatively small shop in LA, and has traditionally been a generalist regional coverage shop, which isn't really segmented into industry verticals. Real Estate is a small group at JPM, even in New York.

    The concept of "JPM LA Real Estate, Gaming & Lodging" is, I suspect, more fiction than fact.

    Other than pointing that out, I'll stick with my policy of not commenting on comparing firms.

    Well you do not have to compare them-but do you know anything about MS REPE in ATL?

  • In reply to zala rules
    Ibtorepe's picture

    Worked 2 years at a top IB boutique (ostensibly, you're not the idiot here, so extrapolate away if you're curious about which firm that is) and now at, unequivocally, the top real estate pe fund. In response to the gentleman's inquiry, and predicated that real estate is the career you've chosen, I would accept an offer at MS—and my reasons are quite simple. 1) Commensurate with the granularity involved (i.e. Firm>group>geo) I recommend you evaluate the "people" once geography is rendered sensitive. JP's real estate practice out there (LA) lacks the maturity you want in a coverage group. A caveat I must also make is the firm's understanding of where the re market is headed—they could be smarter. 2) MS has a strong re practice, and I like the trajectory they're on with the overtures they've made into enhancing their breadth in the industry. RE will function the same for the next 99 years, it comes down to whether a bb "gets it." 3) You're not an idiot, as much as this class act may claim, and you know that deal flow is king for an entry level analyst: you'll be busy in Atlanta.

    Good luck.

  • In reply to Ibtorepe
    cre123's picture

    If I received an email from you that was worded like your above post, I would immediately send it to my co-workers so we could all laugh at you together.

    Why are you responding to posts that were made over 8 years ago?

  • Gene Parmesan's picture

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  • Ricky Rosay's picture