Career Choice: Real Estate Development vs. REIB
Real Estate (145), real estate analyst (28764), Real estate Investment banking (59856), REIB (18594), real estate development (53274), real estate developer (58511), career advice (750), career choices (2309), real estate career (41599), development (2609)
Depends on your future plans. I think the best solution for you right know in terms of exit opps and comp would be the REIB role. You also get to see more asset classes probably so u dont pigeon hole yourself like in the development role.
Quick question for clarification... when you say "REIB equity analyst"... do you mean an analyst position on a true REIB desk (at like a major I-bank) that raises equity? Or do you mean an equity research analyst in ER at an i-bank? Those are massively different, so just want to make sure before giving any thoughts!
I apologize if I do not understand your question properly. But from my understanding the role would include working on the research side about 50% of the time and the other 50% of my time would be working on the equity placement side (termsheet, ect.). I hope that helps answer your question.
Sounds like you don’t have a great understanding of what the REIB job is. That rules out the possibility of it being an equity research or true investment banking role at a large bank because the kids who land those roles know their shit.
Most likely working at a broker raising equity for deals and they just called it “real estate investment banking”
So, I'm guessing this is not at a bank (like Goldman or BofA or even a regional player). Is it at a debt/equity placement shop (essentially a broker??). Is this an institutional shop? If you can give "similar names" of firms, would help, but the phrase "equity placement" is more commonly used with capital markets brokerage, not true REIB.
Do you need a Series 7 to work here (like required to get early on)? That's one solid way to know what kind of firm this is!
A similar firm would be Cushman & Wakefield
So, its a brokerage vs. development question... I guess... which do you really want to do? If you want to be a developer... then this seems like an easy call. The brokerage role sounds like a very standard entry level type role, if the firm has legit institutional standing and you are placed on a good team, them you should have many "exit ops" as they say. Of course for many.... the dev job would be the exit op.
So honestly OP, you have to decide on the path you want to follow. It's just a first job, I wouldn't overthink it. Will add.... getting the first job in development is the hardest, so if development is the end goal for you, I'd think long before turning it down.
Share more detail. City, similar firms, if you would be doing affordable or market rate development, if the dev role is focused on land acquisitions or mostly development management or maybe both, what asset class would you work on in the brokerage role, whats the rep of the broker you’ll be working under, etc. these are all things you need to consider.
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