I want to be in a role where I spend less time behind the desk and more time working with third parties/people. However I enjoy modeling as well.
Which position is better for this? Additionally which position is more respected/pays more and what are the exit opportunities?
I have a a year in IB (Industrials) as background, with an finance & accounting degree.
All advice would be helpful
Development in a project management role will be the least time behind the desk, but minimal modeling. Development finance will be mostly modeling/behind a desk. Hard to get both. Asset management can incorporate a bit of both but is primarily a desk job, you'll get out from time to time.
Neither is necessarily more respected, although Dev gets more of the glory as you're actually creating the buildings, not just managing them. Getting a proj mgmt role in Dev is going to be tough from a finance background.
Exit opps? These are the exit opps. Exit opps are from banking/brokerage. Where are you going to exit to from the principal side?
What do you mean these are the exit ops?
As in, people look to move to the buy side be it acquisitions, development or AM as an exit opp. These are the places people want to end up. From these roles, your option is these roles at other shops, maybe a job function change, or moving to brokerage.
An "exit opp" is generally an IB/consulting term, because people don't go into those roles with long-term careers in mind, they're a stepping stone and training ground for most people. Development and AM aren't stepping stones, they're the final goal.
EDIT: In deciding between these roles, I'd pursue what's more interesting to you and not worry about the perceived prestige. Are you more interested in making and executing a business plan, preparing budgets, working on leasing, and making sure properties are generally performing according to plan, or are you more interested in the development cycle, taking something from nothing, and in the long term being a project manager?
Thank you for that info, that was helpful.
How complex/difficult is the modeling in asset management?
I enjoy modeling but not getting into the complete weeds of everything or doing extreme complex LBOs.
I know asset management doesn’t do LBO but I was speaking to the complexity of the modeling.
Nothing in real estate is that complex modeling-wise. Development is probably as difficult as it gets, a few waterfall structures aside, and it's pretty easy. AM modeling is not difficult.
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