Hi folks, this is my first post here in WSO. First of all, I would like to express my gratitude here to members here who have contributed a lot of useful information.
A little bit of my background: 1. Spent One and a half year in Big4 Auditing 2. Joined a boutique repe (my current job) as an analyst in the acquisitions team through networking and have been working for around one year 3. Able to speak fluent Mandarin 4. Everything below happens in Asia
After spending a year in RE I think this is an interesting place to develop a long term career on, that said, I am now considering switching to another repe, and would like to seek opinion on whether this is a good move.
Background of my current repe: 1. Slightly less than $1B AUM 2. Focuses investing only in one country 3. Good reputation in our base country (Great track record) 4. Great management and friendly working environment 5. Pitiful comps ($40k, with very little annual increment + 20% Bonus + little carry) 6. Odd reporting structure which it seems difficult for me to work on things other than number crunching (and perhaps some write-ups on IM/reports), as there is a senior staff between me and the MD (Real deal driver)
And there is this opportunity on my plate (Talking to them at a final stage) 1. Similar fund size to my current repe 2. Investing in a regional basis 3. Good track record but perhaps not as good as my current company 4. Less pitiful comps (I think I can make it >$45k base) 5. Better reporting structure as I will be able to report directly to the real deal driver. (In such case, I may be able to really talk to the brokers, bankers and other stakeholders, and perhaps handling some other "advanced" stuff)
Looking at long term benefits on my career, I am leaning towards making the shift. The main reasons are the better reporting structure and the regional exposure.
As said, in that way I will be able to work not only on number crunching. I don't hate, and I do not mind longer working hours neither. But the thing here is I don't think I can move up the ladder here in my current company given the current hierarchy).
Also, based on the research reports and my own observation, very few funds focus only on our base country (probably because it is becoming very difficult to make money out of it). I think my fund is doing this simply because they are reluctant to getting away from their modus operandus. It might be good for me to seek regional exposure which allows me to leverage this experience in case I want to jump to another bigger repe in medium term. (As there are a LOT more funds having a regional focus).
Any ideas?
From the looks of it, you've got the basic idea and nearly made your decision. If you don't see a path forward in your current position/at your current company, you need to make a change. Whether it is this new opportunity that you've described or some other opening, you need to focus on placing yourself in a position where you can grow.
That being said, if it is an option for you, I'd finish out a full year at the current firm (you say you've been there "around a year" anyway) to show you gave it a full run.
Thanks for the advice, BlueDevilCRE. Yes, I almost made my decision. And yes, I agree with you that it'd be better to stay for one full year. That wouldnt be a big problem to me though since technically its been 11.5 months as at today.
In terms of the length of each position in the repe industry, what, to you, is considered jumpy? I saw folks here jumping from one to another every 1-2 years. Is it the norm in the industry?
From what I've seen real estate is less jumpy than vanilla finance is. Since the end game is getting some carry, you don't want to develop too much of a reputation for jumping ship lest it make your path to becoming a principal more difficult.
Thanks cre-questions. I should probably consider thoroughly before making shifts then.
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