Hello guys
Have been working at a generalist M&A team for just 4 months right after undergrad and I really like working here, my team is great, I am learning a lot, I like to think that I am a good intern since I constantly get staffed with more and more important tasks, I have been approached by the MD several times because he likes me and he gives me some interesting challenges (this has happened 2/3 times) and I even have been taken to a client meeting once. Thus, I am quite happy at my current role and I am looking forward to get promoted (to analyst)
I have been contacted by a Real Estate AM with USD +10 billions of AUM, had an interview and received an offer. I am thinking about accepting it because my plans were to do IB 3-5 years and then move to the buy-side and I have always loved RE. The conditions are incredibly good, however, I didn't know I would like working at M&A this much... Given my lack of experience I would love to hear any suggestions on what to do?
- Is it too soon to move to AM?
- What do the exit opps look like after working at AM?
I really think I need experience before moving into AM (which is what I want in the long term) but the conditions are great and its tempting me...
Thanks in advance
Curious to hear what more experienced users say. There's definitely something to be said for the technical skills IB will give you and the ability to work under pressure, but I wonder if you could see the same success going directly buy-side.
That's right and I don't even know if I will enjoy working at the buy-side right now because I don't think I am prepared, though I don't know if these opportunities will come again in the future...
You could pigeonhole yourself not only in real estate but in asset management. I think making the transition to acquisitions a few years down the road will be easier but understand what asset management is. If you like deal hunting then you won't like asset management. It's a lot of reporting, talking with your property managers about leasing, etc., budgeting, investor relations/reporting, valuations for exits, etc. If you eventually want to run your own RE firm one day then it's solid but it does suck at times. I will say after talking with numerous people at a few very large firms there is a large hole being created in asset management. Everyone wants to be the deal guy and only a small percentage are going into asset management. That could be good for your pay and career down the road. Times get tough the asset managers get to stay on and squeeze every penny out of a deal while the deal guys get trimmed.
Mmmm thank you for your answer. I didn't imagine that going into AM would be pigeonholing myself, isn't it a top industry? True that I might not like the day to day job, that is my biggest fear. On the other hand, I don't want to let go a potential interesting opp. Would it be difficult to transition from AM to IB if I regret my decision?
Is it asset management from a JV perspective or an operator perspective? I assume since they have that much AUM they are the JV partner or credit facility on projects?
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