for your time..
"Would you consider jumping to the GS AWM PB—RE underwriting role just for the company title, even if you need to step down in title and salary after 8 years in boutique AMC, IB, and REPE?
for more detail..
I'm considering two companies for a move, the first is Goldman Sachs AWM-PB-Real Estate team in Dallas TX. The role involves underwriting. I believe the role would be similar to my IB experience but with a focus on HNWIs and their assets, which contrasts with my previous experience in IB working with institutional investors. (also, difference in the deal size and underwriting approach)
Despite my 8 years of experience and a Master of Science in Real Estate, Goldman's HR suggests starting as an Associate before potentially becoming a VP in the future (it seems Goldman's structure skips Senior Associate and AVP). This causes a little stress. The offered salary matches what I earned some years ago.
The other opportunity is with a mid-sized RE investment firm in Chicago, specializing in middle-market cre investments in both equity and debt. I haven't discussed salary yet, but it seems likely I'll learn more after the interveiw with their CEO soon. The role aligns closely with my current responsibilities in asset management, due diligence, and overall investment oversight, with a title likely remaining consistent as VP. also it seems that the opportunities for advancement within the company are promising due to its ongoing growth
Given my background in APAC financial institutions, company name value in the US seems important, but I'm unsure if moving to Goldman Sachs justifies the potential title and salary trade-offs, especially since it's not IB where I had worked, but Private Bank. Any advice you have would be greatly appreciated.!!!!
With 8 years of experience I wouldn’t take a pay cut to get GS on your resume especially at a pay cut & lower title. You already worked in RE IB so no one is questioning your work ethic/experience. Plus there’s a decent amount of solid firms in chicago if you eventually decide to move shops.
Appreciate your comment!
What do those acronyms mean?
Asset & Wealth Management - Private Bank
no thanks, after 8 years I’ll take what’s better for my own career and livelihood vs. something more “prestigious.” it’s all just a dick measuring contest anyways
.
I agree with you. I think I've developed some sorta issue with the company title out of my current MD. When my MD introduces me and my teammate (another VP who worked at MS before the current one) to others at the meetings, he always brings up his previous company, like 'Here is John Doe. He worked at Morgan Stanley before joining our company...' and became weirdly mute when he introduced me at the same time. (Since I've majorly worked for financial companies in APAC (HK, SG..), not the asian branch of the USA bb in the APAC) I guess I have always felt like it undermines me. However, Thanks so much for your advice!
Similar question to OP's first option - I have an opportunity to do essentially the same at a similar bank but I do not have as many YoE nor am I coming from an IB background.
I've spent about 3.5 years as an analyst in debt brokerage/lending for clients that range from smaller, lean shops to medium size regional players. For the potential new role, I would be getting a title (and pay) bump to associate and would focus on the banks' HNW clients and their CRE portfolios. I'm not set on being an originator at my firm so wondering what you guys think of the new opportunity.
I feel like at 8 years of WE, you should start optimizing for lifestyle (sharpening your focus/skill-set, making the money that supports your lifestyle, spending your time outside of work how you want, etc.
“Prestige” is overrated. As you get further in your career you’ll notice people care more and more about output than pedigree (although pedigree helps get your foot in the door)
I would ask yourself this question about the pay cut - how much is it worth to you just to say you work at Goldman? (Hint: none of your bills get paid By having Goldman Sachs on your LinkedIn)
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