What are the pros and cons of a position within a BB's Real Estate Private Equity group (under the Investment Management Division) versus a position within IBD?
What are the chances of switching groups?
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what kind of RE PE? BB IM division or a RE group within a PE firm?
BB IM
The one I am familiar has much better hours (think 7-7, m-f). Better work as most of your time is spent doing valuation for potential properties, and then putting together a book for the portfolio manager if you want to pitch a property (your MD does). It definitely gives you a RE-specific skillset, but you may be able to sell the valuation experience for IB if you want to switch to the sell-side.
Thank you for the info; it's definitely helpful.
This position is at Lehman Brothers. It's interesting that you mention cushier hours, as the description had me worried:
"...and capability to function efficiently under severe time constraints are absolutely essential. Long hours and demanding assignments are a constant reality in our business."
Two other question:
Would general PE within IM at a BB be different than RE-PE at a BB (in terms of skills acquired, opportunities available, etc.)? [I'm not sure I want to pigeonhole myself into RE immediately out of school]
If I end up liking the work, and, instead of switching to the sell side, I decide to switch a mega-fund, would a BB PE group offer this opportunity? How similar/different are BBs' PE groups compared to the work done at mega-funds?
Thanks!
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