Comparing two RE opportunities
Hi everyone- Recently discovered WSO and thought it would be a good place to ask this question. So I have two potential opportunities that I would like to get some feedback on. The first is a Market Analyst job at Cushman & Wakefield. The second is an Asset Management Analyst job at Boston Capital. Boston Capital has a $15 billion multifamily housing portfolio, most of it is affordable housing.
My ideal scenario would be to work for a couple more years, then get an MBA. After that I would like to get into REPE, REIB, or REIT.
In your opinion, which is the more favorable opportunity? Is my plan, which is to work for one of these firms > MBA> REPE/REIB/REIT plausible? Thanks for any feedback.
I work at a firm similar to Cushman and if their market analysts are equivalent to our market research analysts then it is mostly going to be pre brokerage training. Our analysts are basically just compiling market data for brokers and feeding them the info for their client presentations. Boston Capital may be better for moving on with your desired route.
I would, without a question, go with the position at Boston Capital. You're looking to get onto the investing side of real estate. The Asset Management position with give you analysis, modeling, and evaluation skills. If you want to transition to a reit/repe, you're going to need those skills. Also, if you want to get an mba and you are young, branding and company names are important. While Cushman is a great company, I can't imagine many people from there going to top mba's- where as from even a smaller investment shop on the buyside could be done.
The Asset Management division of any big shop ($15 billion) is going to entail a lot of reporting and asset tracking. This means doing quarterly and annual reporting of the assets that they own and must report to their investors. Boston Capital is a big name in the affordable housing industry but if you're going to be doing the work that you'll be doing such as asset management, you'd want to work for a company with an asset class you'll like.
If those are the 2 offers. I would take a hard look at both. You may become a market research bitch at C&W but Boston Capital pigeon holes you a little in terms of Asset Management and Affordable. That being said, I would hate a job at C&W if my entire day was looking at comps and looking for comparable psf numbers.
and to answer your question. Yes. MBA -> REPE with the BC opportunity is completely plausible. You can leverage your AM exp into a quality MBA and move to Acquisitions from there.
I'd take the BC offer and maneuver around from there. Those junior analyst roles at the big brokers are notoriously shitty, with the exception of cap markets/inv. sales.
Asset Management, for sure. Please, please choose the AM job lol
I did a job similar to the Cushman job you've posted and was able to transition into REPE following an MBA/MSRE.
In reflection, I'd say it provided a comprehensive introduction to RE. I was able to pick up on terminology (NNN/Gross, NER, loss factors), understand the research process, how the lease deal process works, and understand the sticks and bricks of office properties very well (efficient floorplates, what tenants are looking for, how much fitouts cost, etc). Also was required to model lease cashflows which I've found helpful in working in ARGUS now. I left after +/- 2 years, wouldn't have stayed any longer.
Comp sucks, hours are very easy (50 hrs/wk).
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