I am graduating from college in the fall and I want to get into CRE. I have REFM certification, I self studied and I am currently in an internship with a bridge lender. I want to get into acquisitions or development (just like everybody else) but I was advised to start off on the debt side. What are some debt role names that I should be looking at? thanks
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Most entry-level debt roles will usually be the following:
Although some postings will be vague and have something like RE Analyst or simply Analyst. Some will be more direct too, like Debt Analyst or Debt Investment Analyst. Look into the postings to make sure the position is what you're targeting.
thank you !!!
Whoever advised you to start off on the debt side is an idiot.
What makes you say that?
Don't listen to him. Plenty of people start off on the debt side and transition to equity, or stay with debt because they like it or the pay is good.
My main point is why would you limit yourself to just the debt side coming out of school? Second point: having worked on both sides of the coin, I enjoy the equity side more. Equity deals have all the upside and you feel like a rock star when you hit a home run. That's just one reason but just remember there are pros and cons to both sides.
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Wrong forum my man.
lol real estate finance/cmbs analysts at BB are effectively paid the same as IB analysts/associate/etc. .. and can really move to any position. Have past coworkers at BX, Starwood, MSREI, Pru, etc.
Equity is more flashy, but plenty of ppl love debt. It is more structured, higher deal flow, faster paced... really depends what you're looking for. I love the pace and massive deal flow, everyone is different. But you can be working under an MD closing 100 deals + a year (and reviewing 1000s vs. an equity analyst closing a handful.. and likely being in a specific industry/geo/segment). But they think its cool bc they can run a modeled waterfall, which nearly every analyst debt or equity can do.
Coming out of UG, really doesnt matter, although you're likely to find more debt roles readily available vs. 1st equity shop analysts. Also keep in mind, many REPE funds also have debt/real estate credit teams... including probably every MF.
Would just keep your mind open. I honestly think starting out as a real estate finance/cmbs analyst at CS/C/MS/JPM/etc. is a killer role, with structured learning/training and easy exits.
thank you! very detailed info. I really appreciate it!
If I want to be on the equity side eventually and have the opportunity to be an analyst at a top 20 firm on the equity side or at a MF (BX, Starwood, etc) on the debt side which would you take?
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