LO REITs --> REITs Pod?
I'm 2 years into a LO buy-side role out of undergrad covering REITs, but I would like to jump to a pod.
I know REIT pods exist, but it seems like REIT-only pods are rare. Would I be better off learning fins to try and join a fins + REIT pod? Or would it be easier to start following a whole new sector in my free time, like TMT/consumer, and try to recruit for one of those pods?
TLDR: is it easier to land a REIT pod seat or cover a new sector in my free time if my main goal is doing long/short at a pod
Based on the most helpful WSO content, transitioning from a LO buy-side role covering REITs to a pod can be challenging, especially if you're targeting REIT-only pods, as they are indeed rare. Here’s a breakdown of your options:
Targeting REIT + Fins Pods:
Expanding your expertise to include financials (fins) could be a more practical path. Many pods that cover REITs also handle broader financial sectors, so demonstrating knowledge in both areas would make you a stronger candidate. This approach leverages your existing REIT experience while broadening your appeal.
Switching to a New Sector:
If you're considering pivoting to a completely new sector like TMT or consumer, it will require significant effort to build expertise and credibility. Pods in these sectors are competitive, and you'll need to show a deep understanding of the space, which might be harder to achieve in your free time compared to leveraging your current REIT background.
Recommendation:
The easier and more strategic route would likely be to focus on fins + REIT pods. This allows you to build on your existing skill set while expanding into a related area. However, if you have a strong passion for another sector and are willing to put in the work, transitioning to a new sector is possible but more challenging.
Ultimately, your decision should align with your long-term interests and where you see yourself excelling.
Sources: Leaving MFPE for MMHF seat?, Anyone start in RE and end up leaving for another industry?, REIT career path to REPE, REIT or REPE for acquisitions?
Following
Probably better to start branching out into specialty finance and then broader finance/fintech. There's value in becoming an expert in more esoteric areas vs. being another TMT analyst tracking AI capex.
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