Can you make a career in CRE capital markets?

Is it possible to stay within capital markets for the long term at a big broker like JLL/CBRE/CW? If so, what would type of career progression would you have? Also what is the progression difference/lifestyle/comp differences between IS and equity and structured finance teams in capital markets?

 

You absolutely can make a career. Looks like you prefer debt/equity brokerage over investment sales. (You can make a career in either one).

"crewbf: should I be looking to come in as an analyst or senior analyst? Also, why isn’t it more competitive then? If there is potential to be pulling in hundreds of thousands early in your career working flexible hours I’d assume a lot of people would want it? Is it because it has a lot of sales elements?"

The title isn't important (except perhaps for comp) and differs at each outfit. It is competitive, because there are limited spots. It will take several years "to pull in hundreds of thousands". In most shops you're an analyst for about two years and then you transition to producer over time. The tiughest aspects probably is that producers are all commission and can have highly variabe income, and that success takes networking and sales. So the career is not for everyone.

 
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It's definitely possible after one year. They're looking for the right fit primarily (ie you'll fit in on the team and be easy to work with). This toughest thing right now is what you mentioned, they're not hiring. Keep networking and be patient. Try to think of options, and networking will help you become aware of other options. For example, there are going to be several firms in major markets beyond the big brokerages. Two of them are Northmarq and Grandbridge, which just do Debt/Equity (no sales, though one of these, I think, recently entered a sales relationship of some kind.) Also, there are boutique firms. Probably, brokerage firms are more ideal to start, because of the sales pipeline, but as an analyst you won't be responsible for production, so cast a wide net.

The most important thing is being with the right mentor, rather than what brand they are under. Also, ideally you want to get placed in the market where you want to make your career. It can be challenging moving markets because most of yorur contacts will be in that market. You could try a nearby market instead of your target if it's nearby, ie San Diego or Orange County instead of LA. So, try to meet all the players and realize that it may be several months or more before there is a spot. But you could get lucky. Other options could be a Life company (also competitive and probably not hiring, but a good related gig).

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