3rd Year Analyst for top IS brokerage team in a huge market NY/SF/LA - What are my options?
To start off, I started a gig around ~3 years ago as an analyst for a top brokerage team. The team has done extremely well in the past few years but I feel that I'm doing the same mundane tasks for every deal. Underwriting with absurd assumptions, generating reports, coordinating due diligence, and working with both buyers and sellers to ensure a smooth sale. I've worked on transactions ranging from $10M - $200M and have underwrote hundreds and hundreds of deals and OMs throughout my past few years. I've been involved with over $4B in sales and feel that I am learning and doing nothing new.
Has anyone been in the same situation? What did you decide to do? I've been looking into asset management or acquisitions but I'm not sure if these roles offer much more. I would love to hear your thoughts and whether you made a move from IS to any other field whether it be tech, sales, finance, or anything else.
I didn't transition from IS, but from a related field in CRE Finance and had felt similar after about 3 years at my previous employer. What do you want to do long term? Do you not want to be a broker?
Sounds like AM and Acquisitions would both be worthwhile, realistic paths for you if the answer to the last question above is no. With that said, after a few years in AM you may be feeling the same way in regards to the nature of your work. An Acquisitions role may be similar to your current role in that you'll be doing a lot to pull together deals, but you'll at least have to answer to an investment committee which will keep you (somewhat) honest. You can always go over to AM one day if you want a slower pace. From what I've read around here, it seems going from Acq to AM is easier than the reverse
Otherwise, if you don't feel the role is challenging, you may want to find something within CRE that is more intellectually stimulating. Going REPE or MF may be a possibility to scratch that itch; but I'll let someone else verify that because as mentioned, I haven't worked on buyside
Do you mind if I ask what industry you jumped into? Did you end up going into AM or Acquisitions? I've worked with a few institutional REPE groups and funds here and there but I'm not sure why I'm feeling so stagnant. I guess I have to think about it long and hard. I did think about being a broker since my team has offered that option but I think it's extremely tough during these times to broker deals as a new broker. I also would not be able to live off of commission only and it seems too much of a risk for me.
I work on the debt side now and transitioned from another vertical of finance. I realized I left development out of my original response but BrickandMorty put it perfectly, that field will definitely keep you busy
I think you're onto something, though. Sounds like you've talked with a number of folks across the different segments of the industry (REPE, Funds, Developers), do more of that. I think you just need to find which direction you want to go. Sounds to me like you'll be able to dig up a number of opportunities considering your deal experience
Do you have any interest in development? While it can be a bit slower than acquisitions or brokerage, it is hard to feel like your job is getting repetitive as there is SO much to learn between finance, law, construction, design, etc. It is truly a lifetime of learning.
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