Saw this role posted in NYC. Any insights on this type of AM role and the kind of experience it would be for someone that wants to be in AM long term? Also, it seems like this would be roughly equivalent to a senior associate level relative to other firms..is that right?
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Based on the most helpful WSO content, a Senior Manager Asset Management role typically involves overseeing the performance of a portfolio of assets, making strategic decisions to increase value, and managing relationships with tenants and other stakeholders.
In the context of real estate, this could involve tracking major capital events or leasing activity, deciding where to push value, and when to cut losses. The role might also involve bringing cases in front of an Investment Committee, predominantly for redevelopment/expansion projects, dispositions or other capital investments.
In terms of the level of seniority, it can vary between firms. However, based on the WSO Dataset, a Senior Manager role could indeed be equivalent to a Senior Associate level at other firms.
Remember, this is a role that requires a deep understanding of the market and strong relationships with tenants, which can often lead to sourcing acquisition deals or providing underwriting support.
If you're looking to be in Asset Management long term, this could be a great opportunity to gain valuable experience and develop your skills. But remember, every day might not be spent on high-level strategic decisions - there could also be a fair amount of work involved in appeasing potential investors and dealing with C-Level teams.
Hope this helps! If you have any other questions, feel free to ask.
Sources: Is Real Estate "Asset Management" Considered Back Office?, Allure of REPE/REIT Acquisitions, Real Estate Asset/Portfolio Management Tips and Tools, https://www.wallstreetoasis.com/forum/job-search/buyside-viewpoint-from-a-fixed-income-pm?customgpt=1
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