Greetings monkeys,
Need some wisdom. I’m at a boutique valuation firm in a primary TX market. Our firm does institutional work nationwide, with my main markets worked being the PNW. The job is great in terms of the assets we are exposed to, clients we work with, company culture etc. But I find the work to be pretty dull and a ton of report writing with not much people interaction other than co-workers. Deadlines are brutal and typical work week averages 70-80hrs. I also hate how much oversight there is. Not sure what my end game is either. Upper-level preaches to get Certified General license then MAI so we can become managers. But I’m looking at their position thinking I would absolutely hate it if 10-15 years down the line I’m still here. For what it’s worth comp is pretty great (for valuations).
Comp (Including bonuses) 1st Year (2020): $78K 2nd Year (2021): $165K This year: Will be around $185K-$200K
Should I just man up and stick with it because the pay? If I did leave and stayed in the RE industry, I’d either want to land in Industrial leasing/IS or Multifamily IS. Besides that, I have enough time/money to step back if I wanted to and figure things out.
Any input would be appreciated.
So from reading your post, it sounds like you understand the world and what your options are.
1. Keep making good money on a path you are losing the love for
vs.
2. Take a risk, and potentially a pay cut (at least short term), do something else
So...... I mean not sure what you are hoping everyone to opine on, you seem to get it!
It's your call, but I'd say its best to think long term on this one. Meaning where do you really want to be 5, 10, or more years! A lot of people are very happy, well paid, and end fairly rich from a career in valuations..... but, it's not for everyone and that's okay.
Why would you hate it being there 10-15 years later? Also curious how much the CG's and MAI's are making at your firm? Wondering as I just switched to a valuations role fairly recently. Think we both are earning more than most in valuations so want to compare with my firm; I should pull about $95k-$110k this year but work has been completely flexible so far and pretty much 40 hours/week or less. Are you close to earning your CG? Kind of want to say to stick it out and earn your CG just in case you would want to come back to valuations.
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