Guys – hoping to get some feedback here – currently a first year associate at a real estate private equity firm in Los Angeles (started in August). I was in a real estate banking analyst program for three years prior in San Francisco, but I am originally from the East Coast. Here is the problem: I hate (i) the firm and (ii) L.A. From a career progression standpoint, I have no doubt that this would be a good place to do a pre-MBA tour of duty at – we do core (stabilized) and opportunistic (ground-up development or significant re-positioning) investments. Solid AUM, no trouble raising capital, etc. Downside is that I am still getting crushed banking style, and internal dynamics are less than favorable. I have also heard pay is below market. Chalk it up to getting suckered by the “myth of the buy-side” or call me a girl – either way, I am tired of the lifestyle.
I have friends at other shops (or friends of friends), and they don’t get crushed as hard or deal with internal BS as much, so I don’t think I categorically hate REPE, and I am hoping that these issues are firm-related. Other issue is that L.A. sucks IMO. I know I am going to catch hell for saying this, but it’s just not for me. Could be a social life issue, could be that traffic on the 405 makes me want to club baby seals or whatever. I am thinking that NYC is a much better fit (pretty confident as I have tons of friends there and have been numerous times for business and fun).
My question is this – am I being a b*tch about this? I.e., should I take the professional development for what it’s worth and chalk the rest up to growing pains, or is life too short and I should look to make a move. Impact on B-School/future PE/etc (assumes that I move to a less “prestigious” firm or a FoF to make the transition happen)?
Thanks in advance all.
Just follow through with clubbing the baby seals... you will feel much better afterwards lol. Why not try hooking up a recruiter like Glocap and explain your situation to them. I think they have offices in both LA and NYC. I'm sure at a minimum they could advise you on what direction to go for what you're trying to achieve.
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