Trending Content - Real Estate Forum
Career Resources
WSO Free Modeling Series - Now Open Through
June 30, 2026
9 Free Financial Modeling Lessons
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
+Bonus: Get 27 financial modeling templates in swipe file
+Bonus: Get 27 financial modeling templates in swipe file
High Finance Applications
Guaranteed
Get at least one offer GUARANTEED
- 1:1 support
- 92% success rate
- 2,000+ mentor network
- Unlimited Live bootcamps
- AI for resume + LinkedIn
- Networking automation tools
- HireVue simulation tool
- Full course library
- Private Slack community
- 20hrs of mocks
- + much more...
Short answer. No. Agency lending is great if you want to stick it out there. Great career path. But definitely not transferable to principal side.
Do you think it would be possible to transfer over to the balance sheet side at the same firm if there was an opening to get more experience with different asset classes and lending situations to make the switch?
Sure its possible. Debt to debt is a lot easier than going from debt to equity, especially if you're trying to transfer within. However, I'll say since agency is specializing in multifamily, I've seen it the other way around where someone does all asset classes and then goes to agency. However, every situation is different and anything is possible. If you want to do multiple asset classes in lending, then my suggestion is to try for an underwriting/credit analyst gig at a traditional bank. You'll get exposure to all asset classes and products (construction, perm, etc.).
I made it to final round for that kind of seat. Then they reached out with this opportunity. I have been looking for quite some time. would it be better to just keep on looking for better opportunities?
So if you don't have another offer and dont have a job yet, then 100% you should take whatever you can get. Some experience even if its in a different area of CRE is better than no experience.
I’ve seen one case of an Agency underwriter (LifeCo) going to a small MF developer after 3 years. I’m at a bank with a large agency presence and have not seen anyone move from agency to balance sheet internally.
not true^ you can move over to the principal side from agency lending as your first job. I did it.
yea, same. Debt side is a great place to start your career. I saw maybe 300+ deals in the 1.5 yrs I was there.
Quibusdam deserunt aut rem ducimus optio magni aliquid. Molestiae voluptate quisquam est aliquam deserunt sit dolorum. Omnis nihil et iste iusto laborum tenetur facilis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...