Considering going upmarket from middle market REPE to major institutional player (Starwood, BX, KKR)
Hey all - wanted to get your opinions on making a career move. Currently an associate at a middle market REPE fund in NY. I've enjoyed it a lot - been able to take a ton of responsibility and have been quite active, closing 3 deals or so in the last 10 months which I've really learned a lot from. I have an opportunity to join a BX/KKR/Starwood type real estate platform in investments. I think the brand name, comp, and potential flexibility in the future is tough to turn down but the tradeoff would be lifestyle, team culture, etc. Curious how you guys would think about this.
If the role is for explicitly acquisitions it could make sense. What level is the person you report to and how many YOE do you have.
2 YOE - jumping from analyst to associate
Really depends on the person. Are you willing to give up your life for work? And I really mean give it up. An old team member of mine moved to a BX RE portfolio company for the pay and prestige. They burnt him out so bad in about 1-year. Hard to leave because you have no time to interview and no one pays as well. He makes a boatload of money. More than me actually and I’m a VP. But..he works every night until midnight-2AM and they own him on weekends. No gym time. No friends. No time to just relax when you need it. Really think about what your goals are.
For example, I don’t make as much as I can. But I work at a top developer in my city and do very varied and interesting work which is allowing me to eventually go on my own. And on top of that, I have time to actually look at deals for myself because I can get home at 6 pm, put my kids to sleep, and work on my own things until 10PM. At a BX type company, you won’t get home until 12AM at the earliest when you’re younger.
Prob say do it. Would think different if you were associate and eyeing VP/access to non cash comp and fees
How much is ur current comp and hours like?
all-in currently is 170K as analyst working 50-60 hr/week - the upmarket job would be ~300K probably 70-80 hours/week
I'm a master student rn at NYU getting my MSRE, what's the aum for the MM fund paying you 170k?
Curious what kind of deals you guys closing these days
one off type things - affordable housing, something from a servicer, self-storage etc - passing on most opportunities
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