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This for a portfolio company?
Nope-with Blackstone directly. I’ve seen teams assigned to certain areas: Opportunity funds, Core+, etc.
Good, heck GREAT brand name, you'll learn some stuff as a young kid out of school.
However these types of valuation analysts role lack transactional experience typical development/acquisitions/portfolio management roles give you.
We have same roles that have just been created at our firm within the past couple years given the amount of AUM we now own. Your whole job is to value assets under management which will then be used for us to charge clients AM fees and for our incentive calculations. Most of the time, its done externally anyway so you're just coordinating appraisals with 3rd party appraisers. By quarter 3 of updating valuation "models", things will start to look mundane. But hey you get to put BX on your resume....May be Valuation Analysts at BX do different things but I doubt it.
Appreciate the insight.
Your your exit ops will be mega-fund AM roles and MM/UMM acquisitions and development roles.
What makes you say this?
It’s basically an appraisal role but in house. Many large institutions have this. You’ll learn the ins and outs of valuation without the general time crunch and stretch that comes with acquisitions. I can’t comment on pay. But you exit ops will be acquisitions and asset management. You’ll be able to talk about investments and thesis you saw, and than you get to monitor the thesis and asset and watch it play out. It’s a good starting point. You can always make the transition into two years to acquisitions or asset management if that’s what you want.
Appreciate the comment. How heavily would you weigh Blackstone on a resume/ability to move internally? If Acq/AM is the end goal, would it be better to be directly in that space at a much smaller firm? Or does the BX name outweigh the direct Acq/AM experience? Similarly, would a Portfolio Mgmt role (at smaller firm) be more/less beneficial than valuations at BX? I know it's tough to judge as the exact role/firms we're comparing to are hypothetical.
The BX name will 100% get you looks. But I wouldn’t count on a name to just open every door. Some people may say, great BX, but he/she didn’t do acquisitions. Other people may say - great, BX, let’s interview them! It just depends. Personally, I care about fit with interviews - but that is just me.
If the end goal is Acq / AM, and you like this smaller firm you are talking about - go do acquisitions or asset management. Real estate isn’t like many other areas of finance. You can go from a no name shop to an institution. It’s about your network. I’ve seen it happen all the time. Regarding portfolio management, if you only had the option of the BX valuations roles or portfolio management, I would take the valuations role. It’s direct experience for what you want to do next.
You also asked about moving internally - I have no clue if you can do that at BX. You would need to ask people who work there.
For all the 22 year olds out there, there is no need to worry that you don’t get your dream job out of college. Life takes time to unfold, you will find the job you enjoy and work your way too it. I can say for a fact I’m still figuring it out and I’ve been out of college for a bit.
Thanks for insight/advice. I agree there's a journey to getting the "dream job" and trying to figure out what it really is in the meantime.
bump, what is comp like ?
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