CMBS/Structured Finance
Hey guys,
New to this forum and hope to catch some insight. I recently graduated with a BBA in Finance from a state school in Texas and was just hired on as an Analyst in the portfolio management arm of a CMBS/special servicing firm. I'm seeking an MBA here in the next year and also want to pursue my CFA designation. I was wondering if anybody had any tips for me about how I can position myself to advance quickly and hopefully move up. I'm also concerned about whether or not this a good starting point for me to get into other areas of finance in the future like IB or PE. Any input would be greatly appreciated.
CFA is not too applicable unless you're going to jump to the CMBS trading side. In terms of portfolio management, are you strictly performing surveillance on your firms CMBS portfolio (i.e. monitoring loans for default, controlling class shifts, bond erosion etc.)?
Or are you involved in the actual loan workouts? The most transferable skill to the PE side would be actually working out the loans, learning real estate valuation, & the legal side of the business.
Solid bet would be to put in a couple years, get promoted, get your MBA and then try and sell your previous experience as buy-side work.
Coming froma finance background, you won't have trouble gertting into IB from an MBA program IF THAT PROGRAM IS A TARGET SCHOOL. If it is not a target, you will have to work incredibly hard, network a ton, and have the stars align. If you get into IB as an associate out of bschool you will have a shot at the big PERE firms. Sponsor level and smaller size PE requires a less traditional path so there is no direct route such as IB or MBA, but again your background will help you down the road. If you can, try to get some exposure to the workout side of the business because there is going to be a lot of it soon and PE firms will need people who participated in it to help them buy it on the other side.
Thanks for the feedback guys. Appreciate it.
Tobe - .Yeah that's where they have me started out at is in surveillance. But I've heard that surveillance is a good stepping stone to get into loan workouts. I think your right about the experience factor which is why im planning on staying here for while, but the firm i work for is pretty well known in the business.
Quest - I doubt I would be able to get into your typical TOP TIER B-School but I was thinking UT-D or SMU for MBA. But that does give a better idea of the different paths i can take to getting into different areas so i appreciate that.
CMBS Special Servicer Opportunity (Originally Posted: 12/09/2013)
HI all,
I was recently offered an analyst position with a large CMBS special servicer. Half of my time will be spent on the investment management side and the other half on the Asset Management side.
Does anyone have any experience working for a special servicer, and do you think this is a good entry level opportunity in CRE?
Also, since this is only a 2 year program any ideas on potential exit ops?
Thanks in advance
If the world doesn't go to shit again, and you do well in the program, I would think going to work as an analyst for a B-buyer would be a natural transition.
Like above it may make for a good set up if you are working for a special servicer who is also a b piece buyer.
How much do analysts > associates > VP's make at a B piece buyer; and what is the overall outlook for these guys?
Where do you go when your shop slows down to a crawl?
also curious about this.. you don't hear too much about them.
EDIT: pulled this from CM Alert's website. biggest players in B-piece of the first half.
OP, what is your background? How did you get recruited? What is the comp? Usual questions..
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