Advice Needed: Big Four Valuation Analyst Debating Next Move
Hey guys, I’m currently a first-year analyst at a Big Four real estate valuation shop, nearing the end of my first year. For the past few months, I’ve been looking for positions in acquisitions and asset management, but haven’t gotten much traction. I think this is partly due to the market just starting to open up and perhaps my experience not aligning with what firms are looking for right now.
I’ve had exposure to decent amount of RE intern experience, so I know I’m a strong candidate, but I’m in a bit of a dilemma. I really don’t want to go through another busy season because I know it will make it difficult to interview for other opportunities.
I recently received an offer from a regional bank for a real estate analyst role, which would give me some deal flow, but it’s only focused on stabilized assets. I’m torn between taking the offer to avoid getting stuck in another busy season or holding off, powering through busy season, and continuing to apply for positions in acquisitions and asset management afterward.
Any advice would be appreciated.
Based on the most helpful WSO content, here are some insights and advice for your situation:
Transitioning from Big Four to Real Estate Roles:
Considering the Regional Bank Offer:
Ultimately, the decision depends on your personal priorities and career goals. If avoiding another busy season and gaining deal flow experience is more important to you right now, the regional bank offer might be a good fit. However, if you are willing to endure the busy season to find a role that aligns more closely with your long-term aspirations, continuing your search might be the better option.
Sources: Switching from Big 4 to Acquisitions: My Story, Switching from Big 4 to Acquisitions: My Story, Career advice needed: Acquisitions vs Asset Management, Career Advice: Valuations vs. Acquisitions, To Those Who's Had A Successful Career In CRE, What Advice Do You Have For Younger Generations?
What is the job at the regional bank? Are you doing new deals or managing existing or both.
See if you can find how healthy the bank’s CRE book is and what deals they have recently done.
I’ve been at one of the biggest banks and have had a pretty good experience the past 2.5 years but I have hesitancies regarding balance sheet lending going forward.
Can answer any questions on the analyst front on both originations and asset management.
Real Estate Analyst. New Deals but primarily using direct cap.
Will you only touch long term lease NNN industrial? Or very stabilized multi family?
stabilized assets crossed most asset classes.
I think it would be a good opportunity if you want to work on the debt side and they have good volume.
Would it prevent me from ever doing acquisitions?
It depends on what level of acquisitions I suppose, but it probably won’t be easy if you are competing against guys that have operating experience or whatever. I’ve had interviews with “mega funds” for acquisitions but haven’t made it past first round as they want guys with equity experience per feedback. Much easier to gain traction in the debt fund space if you want to end up there.
Will say banking is great WLB and comp though. Sure there are times where you have multiple 70+ hour weeks in a row but there are also times when you work 20-30.
If you want acquisitions/asset management then strive for that role and don’t just make a move to a regional bank to make a move. A role at a regional bank is not going to help you in landing an acquisition or asset management in the future. The fact you’re at the Big Four should help you quite a bit. I assume you mean a big four brokerage shop and not tax/audit (like a PwC)..a next step might even be to try and move to an IS/Debt Equity shop internally if you’re looking for deal flow.
Big 4 Accounting
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