Comments (36)

Jan 18, 2022 - 1:33pm

I'm assuming you are an analyst/associate?

The easiest move would be to a debt AM spot. But you would want to target a high yield/transitional focused shop. If you work on a core portfolio, it will be much of the same as you have now.

You could try for an originations spot, but the completion is going to be fierce so you have to impress up front.

Part of this is going to depend where you live and if you are willing to move. Very different if you tell me you like in Kansas City, working at Midland, and that you want to stay there vs living in NYC.

  • Associate 2 in RE - Comm
Jan 18, 2022 - 5:23pm

I would search for debt brokerage roles. Some of the best high volume transactional seats in the biz. I think you could sell your experience

  • Works at Jones Lang LaSalle
Jan 18, 2022 - 6:51pm

This was me OP, exactly four years ago today, I started working as an asset management analyst overseeing a portfolio of agency and life company loans. The experience I got from the role was great (it was my first job) and gave me talking points in interviews. Plus a lot of people thought I did equity AM given my title, so that gave me plenty of phone screens essentially for practice.

Where can you go from here? Many places, and the ones I've personally seen are: originations, acquisitions, equity AM, climb up the debt AM ladder, or leave CRE completely. I myself landed at JLL doing debt/equity and my debt AM experience definitely helped, at least at first. Let me know if you have any specific questions I can try to answer.

  • Manager in RE - Comm
Jan 18, 2022 - 9:47pm

Debt placement and originations are really going to be more about sales and producing deals. You'll touch on modelling but i wouldn't expect anything too technical or too complicated. Debt placement will provide a bit more edge assuming the brokerage shop you land at has a variety of capital sources having different risk appetite.

Your current role will translate very well for asset management roles assuming you like what you're touching on in servicing to an extent. I'd honestly expect less modeling in asset management.

Lots more analyst/associate positions for debt placement than there are asset management analyst roles. For context, I previously worked for a servicer and now work in development.

Jan 18, 2022 - 9:57pm
  1. So is debt placement and originations a role where I have to find my own clients or something? I'm not into those kind of sales jobs.
  1. How does compensation look for debt asset management roles for a 1-3 year and like 5-7 year experience employees?
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  • Manager in RE - Comm
Jan 18, 2022 - 11:04pm

1. not at the analyst/associate level but after a couple years you'll get pushed to move into a commissioned role where you'll need to bring in clients. can you expect to do some cold-calling like other sales roles? I'd like to say "no" but you'll probably pick up the phone to cold-call property owners for business. most of the business you'll need to generate is going to come from networking with clients

2. comp i'd say really depends on what kind of deal sizes the shop does. somewhere like nuveen, big institutional shop, could have base starting at $75k + 15% bonus for 1-2 years experience. others might be on the lower end at $60-65k with maybe 10-15% bonus. Don't really know too much on the 5-7 year range. you can browse old discussions that quote comp. I'm sure you can hit somewhere well-above $100k at that point but i think this where there aren't enough data points on salary to say what you can expect. The pool of those making it to 5-7 years just gets smaller because i personally believe those who aren't too interested in a long-term career in the industry have left after 3-4 years and decided to do something totally different or have opted to go back to school to do a reset.

  • Director in RE - Comm
Jan 18, 2022 - 11:51pm

Check out Bellwether Asset Management. They seem to be on a hiring spree. 
How much experience do you have?  Are you just doing reporting or are you also doing draw request, lease reviews, budget analyst, processing loan extensions, modifications. etc. If not I would recommend getting on a lender team and get that experience. This gets you a step closer to the actual deal as servicers are "back office" and while they can provide a lender with recommendations, and implement them, the servicer is not making the final decisions. Then once on a team, network with the lender to try to join. But now on the decision making side. 

  • VP in IB - Gen
Jan 19, 2022 - 9:18am

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