CBRE Financial Consulting Group?
So I’ve been pitched the cbre financial consulting group and the capital markets rotational program as I wrap up my last year of undergrad. I was wondering if anyone knows about or has personal experience in either of these positions. Seems like they get experience underwriting in excel/argus but are basically analysts that aren’t assigned to a specific team or property type. I want to get into brokerage but don’t know if the pay/exit or growth ops are there. Would love some advice - thanks.
I did CB’s summer program (an institutional team). FCG is a great op out of undergrad. You’ll crank models / Argus the entire time and learn modeling very well - but you probably won’t touch multi as most of the multi teams have dedicated analyst. Path here is either to get the experience and then recruit to buy-side, or join a brokerage team after (less common). You prob won’t get a ton of visibility into each brokerage team’s process unless you’re on a specific FCG team like national partners but a good way to get reps and build a reputation. Also good if you don’t know what you want to do in RE yet.
If you’re 100% on going principal side prob better to just recruit there.
What did you end up doing after going through it?
I wasn’t on FCG specially but know many who were. I went to a top 3 global GP/developer after undergrad (west coast).
Would also say it depends on which part of your personality you want to double down on. If you want to go brokerage and can shine there, would be good to spend a year or two in the numbers to have a strong foundation. But could also join a specific deal team where you’d get early exposure to the full deal process.
All people I know in the FCG moved up on the landlord rep side and either moved over to brokerage or stayed in the consulting group. While I’m not sure if the group operates differently outside of NYC. In NYC, the FCG is effectively brokerage, but on a salary. Any lease above 20K SF, the consulting group gets brought onto the deal team and is given 20% of the commission. At the end of each year, the commission pool is divided up between members of the group as a bonus (salary and bonus model). The consulting group is also the landlord rep team, though there are people who do landlord rep who are not part of the consulting group.
Think of the consulting group (from a compensation perspective) as a corporate salary. It’ll climb every year / as you do bigger deals and create your network within the firm. A slow upward sloping curve but can go very very high. Whereas, the brokerage team traditionally has no salary, but is like a tech start up - it can shoot up to 7 figures very quickly or go to zero.
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