I'm curious what everyone thinks would be a better starting point in RE: CMBS at a BB (GS, BAML, JPM) or Capital Markets at a brokerage (HFF, Eastdil, JLL)? I know both are excellent opportunities but I was wondering if someone could compare and contrast these 2 in terms of long-term potential. Thanks
| +99 | Is anybody just going to leave the industry? | 34 | 5d |
| +32 | CRE Recruiting for a Career - crazy? | 8 | 4h |
| +26 | Multifamily firms collpasing in Dallas whose next? | 8 | 2d |
| +22 | Exits from REPE | 11 | 1d |
| +19 | Arbor Realty Trust in 2026 | 10 | 2h |
| +18 | LOI Underwriting / Due Diligence | 0 | 3h |
| +15 | NYC Real Estate Job Market | 5 | 2d |
| +14 | Q3/Q4 CRE Job Market Optimism (or lack thereof) | 5 | 1d |
| +10 | Do REPE SA/VP/Dir expect base/bonus bump annually or is 'bump' inherent in carry? | 1 | 6h |
| +8 | Family Office vs REPE | 4 | 5h |
Career Resources
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.
This is partly personal preference. Capital markets at Eastdil could be great, but I guess if I had to come up with my own personal bullshit ranking, I'd rather do CMBS at a BB than any job at JLL, HFF, etc.
Agree
I'm in Capital Markets and I love it. Unlimited income potential, great resources for learning, and good name for the resume. I'm a senior analyst. That being said, I do wonder what it would be like on the other side in a CMBS BB job.
Are the exit opportunities similar for someone who is an analyst at either a top CMBS or Capital Markets firm?
Exit options for my role (Analyst Capital Markets--office, land, multifam, industrial anything) would be to latch on to a client in an acquisitions/Asset Management role. I plan on going REPE or MSRED in a couple years. Maybe JPM Asset Management or another BB asset management shop. I have a ton of underwriting (excel, argus etc.) experience, relationships and marketing material experience. I've taken advantage of our educational programs-- RE Excel classes, and real estate certification classes. This wasn't my first job in the business- I was an analyst at a major REIT for 2 years prior to my Capital Markets gig. I like Capital Markets a whole lot better-- the culture, the people, the potential, the exposure, everything. My REIT position exposed me to only one asset class and it was very corporate. Towards to the end of my stay, I was essentially a reporting analyst because acquisitions were so few and far between.
What's the level of difficulty in landing a role in Capital markets for a brokerage vs the banking route?
@rj1443 - Having worked in two of the biggest RE markets in the world, one on the lending side and one capital markets side; I found it much more difficult to land a role in capital markets. Capital markets firms are especially selective. You need to be a numbers and bravado guy... which is few and far between. Those who have those qualities are most likely in a secure position for those reasons.
@cre123 is right on with exit opps for capital markets. The deals you do make you, end of story. Real estate related, your options are virtually limitless if you are capable and driven.
OP - I started on the lending side and found the transition much easier than most when I moved to capital markets. That being said, the learning curve is still quite steep. I'd recommend going into lending at a BB, saving some cash then making the move.
Facere consequatur qui dignissimos consequatur hic animi magnam. Occaecati maxime ea in eius totam. Est vel provident commodi voluptatem perspiciatis. Corporis illum nobis ex iusto exercitationem. Et accusantium quia aut eos aut. Est qui qui nihil porro aut ipsam.
Et molestiae ut placeat eum aut. Saepe sapiente amet sunt ut enim. Repudiandae cumque sit nesciunt impedit. Quidem perspiciatis corporis distinctio excepturi non aspernatur. Blanditiis et et vel adipisci minima aperiam. Aut ea quae voluptas qui explicabo.
Qui alias qui optio quis quia velit aspernatur. Inventore quia iure non hic est. Voluptates cumque voluptas quia et voluptatum. Quasi ut rem quod quis.
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...