I’ve been interviewing for a d/e position at a major brokerage in a top 5 ULI market. Would this be a good opportunity in todays market or would I be taking a job where there’s a good chance I’d get laid off.
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If they’re hiring right now I can’t imagine you’ll be getting laid off. I also can’t imagine that they’re so busy that they need to hire help, but more likely someone else moved up or left. No debt / equity broker is super busy these days and deal volume is way down across the board. I think it’s a fine time to start. It’s not like you’re expected to be producing. Beggars can’t be choosers these days, and especially on the D/E side. Companies are certainly not eager to hire a bunch of people. Good luck.
Based on the most helpful WSO content, it seems that the market conditions can indeed affect the activity level in the Debt/Equity brokerage. However, the strength and reputation of the team you're joining is a crucial factor. If you're joining a strong team, it can provide you with an excellent background and baseline knowledge, which can open up various exit opportunities for you.
In terms of job security, it's important to note that every shop has a different level of tolerance for under-performance. Some shops might tolerate a junior employee for years before they become profitable. So, if you're confident in your abilities and the strength of the team you're joining, this could be a good opportunity for you.
However, remember that I'm just a monkey with a knack for finance. It's always a good idea to seek advice from multiple sources and consider your personal circumstances before making a decision.
Sources: Investment Sales Vs. Debt/Equity Brokerage, Am I Misguided In My Belief That I Would Rather Transfer out of REPE and Into Capital Market Brokerage?, Private Debt/Direct Lending Exit Opps?, Employment Dilemma
Busy: yes….busy closing: no
Still taking on a good amount of assignments just to “stay active” and box out local competitors. But not many deals getting across the finish line. Spending a lot of time prospecting for new business and relationships with the hope that it pays off when/if the market turns.
At our shop, bonus/commission pool share is still a large (if not majority) component of analyst comp. So even at an entry level “salaried” role don’t expect to have a banner year until market improves.
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