Career Transition Possible? How to do it?
All, thanks in advance for the time. Wanted to give some background on my situation and seek some help/advice.
Background - Associate 2 in capital markets at top tier REPE (Brookfield, STWD, BX, KKR, APO). Did 2 years of acq and a large player prior to coming here. It has been a Great experience, but want to go back to acquisitions.
Knowing my background, can I transfer internally to the acquisitions team? Senior People at this firm have done a ton of different roles in their career so it makes me think it’s possible. If you all think this is possible, how would I go about it? People leave every year after bonuses (probably due to hours or better opps) so I know at some point a spot will open up. Don’t want to ruffle feathers as I actually like my team and the job, but want to do acquisitions again.
Ah, the classic career pivot within the high-stakes world of real estate private equity! Based on the most helpful WSO content, transitioning internally to an acquisitions team is definitely within the realm of possibility, especially with your solid background in capital markets and previous experience in acquisitions. Here's a strategic approach to make your move:
Leverage Your Experience: Highlight your previous acquisitions experience and your current role's relevance to the acquisitions process. This demonstrates your understanding of the full investment cycle.
Build Internal Relationships: Network within your firm, especially with members of the acquisitions team. Since senior people at your firm have diverse backgrounds, seek their mentorship and advice on making such a transition.
Express Your Interest: Have an open conversation with your manager about your career goals. It's important to communicate your interest in acquisitions without diminishing your commitment to your current role.
Timing is Key: Keep an eye on internal job postings and team movements, especially around bonus season when turnover is higher. This is when opportunities are most likely to arise.
Prepare for the Role: Brush up on any skills that are particularly pertinent to acquisitions that you may not be using in your current role. This could include financial modeling, market analysis, or deal structuring.
Be Patient and Professional: These transitions can take time, and it's crucial to maintain professionalism in your current role while pursuing the transition.
Remember, internal mobility can be a great way to advance your career while retaining the benefits of working within a firm you're already familiar with. Keep swinging through those corporate vines with grace, and you'll likely find a way to land in the acquisitions team. Good luck!
Sources: Switching from Big 4 to Acquisitions: My Story, Switching from Big 4 to Acquisitions: My Story, Career Prospects Advice! Where do I stand., How did you transition from an analyst/support role to a sourcing/production role?, Transition from RE Development to REPE
Bump… need help trying to frame this move internally without pissing anyone off.
Did you bring this up during your performance review? Seems like something you should frame as you wanting to round out your skillset but also being able to make an immediate impact.
At my old firm, I applied to a new role (unprompted) on a different deal team and basically got talked out of it. I brought it up during my next review and they were more willing to get me exposure to those deals. I ended up moving shops anyways but I’m sure some firms would be open minded to a transition.
I didn’t bring it up, but I meet with my manager monthly so that does seem like a good way and time to softly to frame it. We don’t really post investment roles so it would be tough to do it that way through applying lol
Why not just have a grown up conversation with your boss....
Not trying to get fired in an awful job market or be pushed out since I “don’t want to be here”
Then that's your answer, candidly when I read this I thought insane background and spot. Acquisitions isn't going to be active and people are still getting laid off, may not be what you want to hear but try this in 6-12 months when things are clearer.
Like you said you don't want to be in a bad spot in a terrible market, so don't bring it up yet especially when a lot of acquisitions team are getting let go or they are freezing hiring.
Edit: Also especially since two of these firms in my mind are very openly cutthroat and don't care about junior employees (Starwood, Apollo). This could be seen as wtf is this kid thinking at this time in the market with our own internal problems trying to switch to acquisitions where we are winding down and may have a need on the capital markets side, there are x many people who would die to be here.
What he said. Not the time to be showing your hand that you want to transition to acquisitions. Keep with your role and bring it up with your boss in a year if things are better, or when the acquisitions team is actively expanding again.
Perhaps use this time to network with folks on that team without explicitly letting them know your interest. Join in on happy hours, attend events they go to, etc.
Actually, I'd recommend in a year or so through your networking you see if there could be a spot for you on that team first, and then go to your boss.
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