What Should I do?

Based on the most helpful WSO content, navigating career transitions, especially after a layoff, can indeed be challenging but also an opportunity for growth and exploration. Let's tackle your concerns one by one:

1. Transitioning to Infrastructure or FP&A in a Different Industry

• Flexibility in Career Paths: Transitioning to infrastructure or FP&A in a different industry wouldn't necessarily mean you're "screwed" for returning to Commercial Real Estate (CRE). Many skills in finance and analysis are transferable. For instance, the analytical skills, financial modeling, and understanding of market dynamics you'd use in infrastructure or FP&A are highly relevant in CRE.

• Returning to CRE: While it's true that CRE has its specificities, the broader finance skills you'd maintain and develop in infrastructure or FP&A roles can be valuable. The key would be to keep networking within the CRE industry and stay updated on industry trends and developments. This way, you signal your continued interest and commitment to the field.

2. Underwriting Smaller Deals Part-Time vs. Seeking CRE Job in a Different City

• Part-Time Underwriting Role: Taking on a part-time role underwriting smaller deals can be a strategic move. It keeps you directly involved in the CRE industry, allowing you to maintain and even expand your skill set. This experience can be valuable on your resume, showing that you've remained active in the field despite the employment gap.

• Perception by Recruiters: Recruiters and future employers often value direct industry experience and the initiative to stay engaged in your field. The part-time role could be seen as a proactive step to keep your skills sharp and stay involved in CRE. It's also an opportunity to potentially grow into a more significant role within your friend's company as it expands.

• Long-Term Goals: Given your preference to stay in your current city and your long-term career aspirations in CRE, the part-time role might offer a good balance. It allows you to continue living where you want while also keeping your career trajectory aligned with your goals.

Conclusion

The decision between moving for a job or staying in your current city for a part-time role depends on your priorities and long-term career goals. Both options have their merits, and neither would necessarily "ruin" your career. Staying active in the industry, continuing to network, and being open to learning and adapting are key strategies for navigating this period.

Remember, career paths are rarely linear, and sometimes the most unexpected opportunities lead to the most rewarding outcomes. Keep an open mind, and consider which option aligns best with your personal and professional goals.

Sources: Anyone start in RE and end up leaving for another industry?, https://www.wallstreetoasis.com/forum/real-estate/whats-with-all-the-ibpe-bros-asking-about-cre?customgpt=1, What's with all the IB/PE bros asking about CRE?, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, To Those Who's Had A Successful Career In CRE, What Advice Do You Have For Younger Generations?

Based on the most helpful WSO content, navigating career transitions, especially after a layoff, can indeed be challenging but also an opportunity for growth and exploration. Here's some advice tailored to your situation:

1. Transitioning to Infrastructure or FP&A: Taking a job in infrastructure or FP&A in a different industry wouldn't necessarily ruin your chances of returning to Commercial Real Estate (CRE) later. Skills in finance, analysis, and project management are highly transferable. However, the ease of returning to CRE might depend on how long you've been away and the state of the market when you decide to return. It's crucial to keep networking within the CRE industry and stay updated on industry trends even while working in another field. This will signal your continued interest in CRE to potential employers.

2. Underwriting Part-Time vs. Moving for a CRE Job: Working part-time for your friend's company could be a strategic move to keep your skills sharp and remain relevant in the CRE space. It shows initiative and the ability to adapt, which are qualities recruiters often look for. However, if your ultimate goal is to secure a more stable position in CRE, you might want to consider relocating for a job that aligns more closely with your career aspirations, especially if opportunities in your current city are limited. Recruiters tend to value direct industry experience, and a full-time role in CRE, even in a different city, could be more beneficial for your long-term career.

Long-Term Strategy: Given your desire to stay in your current city long-term, you could take the part-time underwriting job while continuing to network and apply for CRE roles that interest you. This approach allows you to maintain industry relevance and flexibility. Meanwhile, keep an open mind about opportunities in other cities. A temporary move could lead to valuable experience that makes you a more competitive candidate when the job market in your preferred city improves.

Remember, career paths are rarely linear. Each experience, whether in infrastructure, FP&A, or underwriting smaller deals, contributes to your skill set and professional network. Stay proactive, open to learning, and focused on your long-term goals.

Sources: Anyone start in RE and end up leaving for another industry?, https://www.wallstreetoasis.com/forum/real-estate/whats-with-all-the-ibpe-bros-asking-about-cre?customgpt=1, What's with all the IB/PE bros asking about CRE?, Corporate Finance Q&A with accountingbyday, BJM85, STorIB, and djfiii, To Those Who's Had A Successful Career In CRE, What Advice Do You Have For Younger Generations?