Acq to AM?
After almost 6 years, I’m burning out in acquisitions. I don’t want my schedule to be dictated by deal flow anymore. The idea of having to pound the table to “source” deals doesn’t seem as cool or interesting to me anymore. I’d rather have a more predictable schedule that lets me have an actual life outside of work. Exercise the right side of my brain again.
Has anybody made the jump? How do you feel about it? Is it true that AM teams like candidates with acq experience?
Based on the most helpful WSO content, making the transition from acquisitions (Acq) to asset management (AM) is a path that some professionals in the real estate sector have considered or undertaken, especially when seeking a better work-life balance and a shift in work focus. Here's a breakdown of insights related to your query:
Burnout in Acquisitions: It's not uncommon for professionals in acquisitions to experience burnout due to the high-pressure environment and the unpredictable nature of deal flow. The constant need to source deals and the irregular hours can indeed take a toll on one's personal life and well-being.
Transition to Asset Management: Moving to asset management can offer a more structured schedule and potentially less stress related to deal sourcing. Asset management focuses on maximizing the value of existing properties through strategic oversight and operational improvements. This role can allow for more predictable hours and a different set of challenges that might be more aligned with your current professional desires.
Valuing Acquisitions Experience: Asset management teams often value candidates with acquisitions experience. Your background in acquisitions can provide a deep understanding of the financial and market analysis necessary for successful asset management. Your experience in deal-making and understanding of what makes a property a valuable acquisition can be a significant asset in managing and optimizing property performance.
Personal Experience: While I can't speak from personal experience, based on previous WSO threads, individuals who have made the jump from acquisitions to asset management often report a positive shift in terms of work-life balance. They appreciate the opportunity to engage more deeply with the operational aspects of real estate and enjoy the challenge of enhancing asset value over time.
Considerations: Before making the transition, consider the potential differences in compensation structures and career trajectory. Asset management might offer a more stable income but could have different long-term growth prospects compared to acquisitions. It's also worth considering the cultural fit within the asset management team and whether the day-to-day responsibilities align with your career goals and interests.
In conclusion, if you're seeking a change due to burnout and a desire for a more predictable schedule, transitioning from acquisitions to asset management could be a beneficial move. Your acquisitions experience is likely to be valued in asset management, offering a solid foundation for this new phase in your career.
Sources: Career advice needed: Acquisitions vs Asset Management, Would you move from real estate development to asset management?, Switching from Big 4 to Acquisitions: My Story, Allure of REPE/REIT Acquisitions
Go work in Asset Managment. I work at a top 5 REIT and most AMs make 250k+ working 50 hours a week
Did you start out in acq? How was that transition?
Is that 250k all-in comp or Base?
How does AM at a REIT differ from AM at a REPE firm (value add)?
Generally more reporting requirements, but otherwise it doesn't really (assuming they are apples to apples in terms of degree of vertical integration and whether they primarily operate or act as LP capital).
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