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Hey there, welcome to the jungle! First off, congrats on snagging that internship – those are some big names in the CRE space. Now, let's swing into your questions:
Entry-Level Comp in Asset Management: Based on the most helpful WSO content, for a first-year analyst in asset management, you're looking at a base salary that can range from $65k to $75k, with bonuses around 5% to 20%, depending on the firm and location. Remember, these numbers can swing around like vines in the jungle, so keep a grip on the latest figures.
Transitioning from AM to IB: It's definitely possible to move from asset management to investment banking, but it's not the most beaten path. Most folks tend to move from IB to AM due to the skill set and experience gained in IB being highly valuable in AM. However, if you're a star performer and network like a champ, you can make the leap.
Is an AM Internship a Step Towards IB?: An AM internship can be a good step, especially if you're learning relevant financial analysis skills. It shows you've got some finance chops. However, if IB is your ultimate goal, you'll want to aim for an IB internship down the road. Networking and building a strong understanding of financial modeling and valuation will be key.
Since you're in Texas, keep in mind that the energy sector is big there, and having knowledge in that area could be a plus for IB roles. Also, don't forget to leverage your internship experience to build relationships and learn as much as you can about the industry.
Keep swinging through the forums, and don't hesitate to reach out if you've got more questions. Good luck!
Sources: Salary Progression in Asset Management, Is asset management underrated?, Why Work in Asset Management?, Asset Management vs Investment Banking 101, Compensation and Stability in Asset Management?
I think if you want to work in IB you should recruit for IB. You can try to find a niche where you can leverage your CRE experience. The more senior you get, the more difficult it will be. If banks need bodies off cycle, maybe you could sneak in somewhere after a year in CRE, but you'll be competing with folks with more relevant experience. Now the next shot you'd have is to do an MBA and recruit for IB out of that. But i dont think most folks look at IB as an exit op, more like something to exit from.
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