What are the thoughts on community development banking roles within CRE groups at BBs. Seems like a lot more of a fulfilling role but curious how it compares in terms of salary progression and any exit ops.
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Community Development Banking (CDB) roles within CRE (Commercial Real Estate) groups at bulge bracket banks (BBs) can indeed be fulfilling, as they often focus on financing projects that have a tangible social impact, such as affordable housing, community facilities, and economic development in underserved areas. Here's a breakdown based on the most helpful WSO content:
1. Role Overview
2. Salary Progression
3. Exit Opportunities
4. Work-Life Balance
5. Challenges
Final Thoughts
If you're passionate about making a social impact and are okay with potentially slower salary progression compared to traditional CRE roles, CDB can be a highly rewarding career path. However, if maximizing compensation and broader exit opportunities are your primary goals, you might want to consider traditional CRE roles or other areas within real estate finance.
Sources: Breakdown of Post-IB Exit Opportunities, Interesting (Post-MBA) Exits from Banking, 2017 Commercial/Corporate Banking Bonuses, Breakdown of Post-IB Exit Opportunities, Commercial Banking - Comp/Lifestyle
Better hours, similarish comp at the entry level that quickly falls behind your peers. Deals tend to blend multiple sources of private and public funding sources. Government always moves slowly.
What would be considered peers to this. And how would comp compare. If aiming for fulfillment and good comp is there a better alternative.
Community Development in the world of banking usually means an investing role to fullfill the firm's CRA requirement. The better comp'd peer role is a seat in a traditional lending or investing pod.
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