Background: I’ve been in RE development for 5 years as an “analyst”. I work for a developer with a corporate headquarter office and satellite offices throughout the country whereby the satellite offices use corporate as seed capital for pursuit/GP equity and satellite offices do the rest essentially living and dying by their own projects. I work directly with two MDs and our development managers are on site. Our projects range between $50M-$500M in size located in international destinations.
As an “analyst” I do a little of everything as most of you know at smaller shops. I am in every meeting with the MD’s in regard to acquisitions, capital raising, structuring, design, construction management, sales & marketing and dispositions. I’ve had fantastic experience so far but now it’s time to move to the next step in my career. I have the fortunate opportunity to basically choose between moving up to a VP role within the organization through our expansion plan or move to a development manager role on a newly acquired site.
My question: to those who are further along in their careers, what do you find more beneficial in terms of career progression and experience: staying strictly on the finance/deal structuring side and managing the development managers or learning the intricacies of the development process by being on site and in the weeds? I work very close with the development managers also and know from a high level all the issues that arise and help to solve the problems but cannot say I’ve “built” something.
Long term goal: CEO of Development (we completely bifurcate ops & dev.) of the entire company in 10-15 years OR go off on my own in 7-10 years developing similar product types. In a perfect world I would become a development manager for 4-5 years and go back to acquisitions/deal structuring/capital raising for the company.
I ask this, because my DM’s are both nearing retirement age and have mentioned this cycle is their last rodeo. I am trying to decide which route would be more beneficial for (i) keeping this satellite office open and moving up in the company and/or (ii) gaining the experience required to go off on my own.
Any insights would be helpful.
Thanks
Aperiam sequi tenetur facere aut. Omnis molestiae ipsa omnis iste eos. Voluptate ut repudiandae corporis eos.
Et ab voluptates et corrupti qui tempora minus. Hic nostrum eum laborum expedita porro unde eveniet. Quidem accusantium tempore odio voluptatem non molestias.
Facere sapiente facilis ex dolorum fuga aspernatur at eligendi. Quia consequatur fugiat ut eveniet odit ducimus. Voluptas aliquam animi adipisci et labore voluptatibus. Optio pariatur suscipit illo tempore nam ut. Dignissimos repellat repellendus nulla ratione tempore ut facere at.
Ut quas voluptas perferendis rerum. Rerum officiis autem ut voluptas dolorem molestiae quos. Repudiandae aut itaque cupiditate ipsa. Quidem nulla voluptatem ipsa ut. Velit saepe dolorem et sed.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...