This is a bit of niche question, but does anyone here work on the development side for a tech firm building data centers? I'm in the PNW and see a lot of positions open within Microsoft/Amazon/FB/Google. I almost exclusively work in multi, but the field is way too overcrowded and commoditized. I am starting to think about applying for one of these positions, but I'd love to connect with someone on the inside first.
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Bump. Curious to hear about the WLB/comp from someone in that position
I did a short stent in corporate real estate at a tech company. Pay was fine but had less upside, work life balance was great. Honestly was the easiest job I have ever had, I worked 4 hrs a day and was a top performer. It’s a low bar to impress because by no means is too real estate talent going to work for these companies, generally. I think the pay for some of these jobs can be almost 2-300k total comp with RSUs today. Ultimately left because it seemed like a place where good careers go to die. At a certain point your experience becomes super specific, and no longer applicable to the rest of the industry. Nothing beats merchant development when it comes to the highs of this business in my opinion. You have the ability to really influence outcomes and with that comes the potential for a lot of money. You don’t get that working in corporate real estate, you are just a small cog in a huge machine. Remember this is a facilities job not real estate investments.
Very interesting, thanks for sharing. If you don't mind, what was your background before working in corporate RE at the tech company? I've seen a lot of people that work in corporate RE either come from brokerage or project management backgrounds.
Owner project/dev manager doing mostly 3rd party work. Most people came from brokerage or CM type background, but most teams are hyper specialized so there is a lot less soup to nuts management (millage will very depending on company and org.). Actual dev experience was pretty rare and it showed in a lot of hires ability to execute the job.
Can’t stress enough that this is not a real estate job but a facilities job, thus decisions that are made sometimes make zero sense from a RE perspective. This mostly is because the discount is tied back to stock buy backs and more often than not the additional capital to invest to make money from real estate (sale lease back, flipping land) makes more sense to buy back stock or invest into other operation parts of the business. This it is just and expense line item to them and therefore you job means very little to them.
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