Big Four Real Estate Advisory
I have done some digging around on the site and know that there is some information regarding Big Four Real Estate Advisory, but was hoping to get some more information, and hopefully a better idea of a timeline.
Has anyone worked with these groups? If so, what work did they do for your firm?
Alternatively, has anyone hired or worked for/with someone who left one of these groups?
I have seen that past one year it the returns can be diminishing and you run the risk of being considered an appraiser and unable to get out. How true is this? Also, based on this timeline, and considering the other posts regarding recruiting timelines and how long to stay at your first job, would you recommend to start looking after 9, 12, 15 months?
I am caught between trying to get out as early as possible (what this real estate board seems to think about this job) and making sure to stay enough time to get the "stamp of approval" that I have real estate experience and that I am a competent human being (WSO community recommends staying 12+ months so that you go through at least one annual review and didn't get fired)
Are there any things I should be pursuing to supplement my experience?
Appreciate the help!
thisismywsoinbox, hey, look at the bright side, at least you didn't get a ton of monkey shit thrown at you...here is my best guess on threads that might be helpful:
You're welcome.
Bump.
I would say if it is your first gig out of college it isn't a bad opportunity at all. I know a few guys that worked at HFF & Eastdil after leaving Deloitte's RE group. I'd say if you stay too long you may be pigeonholed so you are definitely right on that front.
I think we may know the same people.. or may just go to show that this isn't an uncommon thing to do.
Agreed with Vintagegmt. Staying 2-4 years is a nice starter job. You'll get to work with some major clients, deals and on all angles of RE. After those few years it gets tough for IS/buy-side companies to justify bringing you on at a comparable title vs. a candidate with prior investment exp.
A couple people I went to undergrad with took this route, some stayed at Big 4, but others went on to valuations at larger more RE focused shops in my market, plus GSEs so it's fairly good way to get experience I'd say, especially if it's your first job out of school.
Bump, any more info on these groups. Having trouble figuring out what these guys actually do. Specifically for Big 4 CMBS, possible to lateral to REIB / REPE?
If you go the valuation/appraisal/advisory type route, I would highly recommend staying at least 3 years, even 5 before seriously trying to jump. Really, this is generally good advice, but some roles do make shifts after 1-2 years doable and worthwhile.
These fields are more cerebral/analytical, not just banging out deals which is actually pretty rote at the end of the day (why analyst in IB or IS can/do jump faster to principal side). This will take longer to get good. That said, being good at valuation and analysis is very valuable to the principal side as well as IS/capital markets brokerage. People start here and jump over often, I don't think it is that hard. But a fast move could be sub-optimal.
You could of course do this for a few years, go get grad degree and then apply in to principal side roles.
Deleting duplicate
Disagree. Use the Big Four brand to lateral ASAP. You'll learn more about real estate at a brokerage, lender or principal investor than you will at PwC.
Why waste years of your life just to "get ready" to make the move? Do it now...
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