Career Advice for AM
Hi All. I am new to this forum seeking some career advice, as it seems there is a wealth of knowledge here!
I am a real estate Asset Manager currently working for an operating partner of a large Institutional investor. I have 6 years of experience, starting with 3 years in real estate consulting in London and the past 3 working at private investment companies.
I am looking for advice on my next move. I am currently underpaid (I think) earning around $85k base with $5k of bonus in Northern CA. I reached final round at a private equity company as an AM Associate but lost out to a MBA grad with greater modeling skills than me. I have a potential opportunity at another operating company and I am also talking to a major bank about an AM Associate role.
I am interested to know what kind of compensation I should be looking for in either of those two roles and any pros and cons members can shed from the information I have given them. In terms of my skills, I hold a pure real estate degree from the UK and have a very wide range of experience with most asset types. My weakest area would be modeling which for most of my roles I haven't had to do much (more focused on executing business plans by leasing, development etc). I can work with models and do basic waterfalls etc though.
Any help much appreciated!
o.
I believe he is inquiring about real estate AM not equities.
AM = RE Asset Management
With your experience and the market you are located in $85k +5k does sound a little low. I had an AM offer for a large multifamily REPE shop for $95k +~10k, but this position was located in a lower cost of living city. I would expect a bigger bump at the VP level once you manage your own portfolio of properties.
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