Infrastructure or Real Estate Financing ?

Based on the most helpful WSO content, here are insights to help you with your dilemma:

1. Complexity and Stimulation:

   • Project Finance: Project finance is often considered more complex and stimulating due to its heavy modeling work, long-term orientation, and the need to understand niche areas of capital markets. It involves structuring deals for large-scale projects like energy, infrastructure, and industrial plants, which can be intellectually rewarding.
   • Real Estate Finance: Real estate finance can vary in complexity. While some find it less technical and more straightforward, others appreciate its tangible impact on communities and the diverse skill set it requires, including development and construction knowledge.

2. Lateral Move to Infrastructure Finance:

   • It is possible to lateral from real estate to infrastructure finance, especially if you have a strong foundation in financial modeling and an understanding of capital markets. The transition might be smoother at the associate level, given your prior experience in corporate banking.

3. Prestige and Exit Opportunities:

   • Asset Management Firm: Working at a top-tier asset management firm in real estate finance can offer strong exit opportunities, especially within the real estate sector or related fields.
   • French Bank: A traineeship in project finance with a reputable French bank can also be prestigious, particularly if you are passionate about the mining and industrial sectors. It may provide broader exit opportunities in infrastructure finance and related industries.

4. Job Market Risk:

   • Given the current job market in Europe, opting for a full-time position over a traineeship might be less risky. A full-time role offers more stability and a clearer career progression path.

5. Relocation Feasibility:

   • Moving to London after gaining 2-3 years of experience in France is feasible. However, seizing the opportunity to go abroad now could provide immediate exposure to a different market and potentially faster career growth, especially if you are keen on working in project finance.

In summary, if you are passionate about project finance and find it more stimulating, the traineeship in London might align better with your interests. However, considering the current job market, the full-time position in Paris offers more stability. Weighing your long-term career goals and risk tolerance will help you make the best decision.

Sources: Is Project Finance interesting?, why choose real estate finance?, Thoughts on acquisitions vs. development, Regrets About not Going to Corporate Finance?, What's the catch in CRE?