Chicago REIT vs Houston oil and gas?
So I have two offers and have to accept one ASAP and I'm graduating undergrad in a few weeks.
One is at at Major Oil and Gas company in Houston where I am from and the other is at a REIT in Chicago.
I interned at the Oil and Gas company this summer in their controllers division, I loved their culture but it was more accounting work than Finance work, finances mostly major and I like that type of work more. They gave me the offer at the end of the internship and I told them I wanted to move to their trading or treasury division but they did not let me. I would have to work a few years in controllers then maybe be able to switch divisions.
The other offer is at a REIT in Chicago working as an analyst in their asset management division which is more inclined to the work I want to do.
But the thing is the Oil and Gas company has a name that is known worldwide by everyone( one of the 2 biggest oil and gas companies in the U.S), and the pay is something that im thinking heavily about.
So the Oil and Gas company pays $5000 more, but there is no bonus structure. The REIT pays less but there is a $5000 bonus to help move to Chicago as well as an end of year bonus that ranges from 9% to 17% of your base salary.
Another thing to think about is that Chicago is more expensive than Houston.
Taking into consideration what I want to do with my career, pay, and location, and name recognition what should I do!!?
I would ignore the pay and see which industry you're trying to be in long term
Industry doesnt play as big of a role in my head for some reason. I mean I'm probably more interested in Oil and Gas over a REIT. But I'd much rather be working in asset management than controllers basically doing accounting.
Others may chime in on the difficulty of pivoting within Exxon/P66, but Chicago and Houston are way different. I've lived in both and say that Chicago is nicer, but with no state income tax and cheaper rent, you will save some money long term in Houston, but you need a car in Houston and not Chicago. I would personally focus more on your industry interests more than pay and prestige(unless there's a signficant gap). Also, if you stay in O&G you're gonna want to like Houston.
I know they initially said no when you asked to be placed in a more trading/asset roles, but would there be any timeline where you might get a look at a seat on one of those groups?
is the reit ventas? they are the industry leader with great reputation but heard they grind you a lot haha agree with the above comment that generally you should go with industry you are more interested in/passionate about especially given real estate is a very specialized field.... i live in chicago and been to houston like 10 times but much prefer chicago for various reasons.. to each his own tho
Haha, excellent guess! Yeah, to be honest industry is not a big concern to me. It's more about long term profit.
yeah asset management at a top reit is a good gig esp for entry role and i'd only imagine won't be too difficult to transition to RE acquisition role if you want to given the skill set/brand u will develop also chicago apartment rent is not crazy expensive compared to other major cities and u won't need a car at all congrats on the offers!
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