Help me choose between offers
Currently deciding between two different associate offers:
First one is at a mega developer Hines/Related/Tishman and second is with a multi merchant developer Alliance/Greystar/Mill Creek
Both are in smaller office and I would like to be in my next position for the long haul. All things being equal, which would offer would you go with and why?
It’s a close enough decision that I would take things like how you get along with the team into consideration, as well as your own preferences toward apartments vs. other product types and what you’ll actually be responsible and get exposed to day to day, but I’d lean slightly toward the first option.
No wrong answer here though. Good work.
Appreciate the feedback. I see my self getting along with either team as we have similar interests and personalities.
Responsibilities are also very similar albeit slightly more AM work in the first option, which is the way I’m leaning given that there’s more product type variety, including multi.
Is there greater benefit in specializing in one asset class?
Eventually yes but when starting out I think it’s smart to have exposure to different types; you don’t know enough to know what you like and don’t like at the onset. The jack of all trades master of none really begins to be dangerous as you climb the ladder or go out on your own. There’s no way to master a bunch of product types while keeping up with specific asset type scuttle around your markets. You open yourself up to getting suckered on deals as well.
Bump
I’ve interned at one of the multi-merchant builders you listed and currently work at a mega developer you listed. If this is a job right out of undergrad/MBA, 100% take the mega developer - you will touch various product types, capital stacks, and overall work on more complicated deals which i think is more beneficial in the long-run. Multi merchant builders generally have a set playbook that they’re successful with but doesn’t really give you a very vigorous analytical foundation. But if you are already dead-set on development and/or really like multi, you can’t go wrong here either since you’ll get more cradle to grave exposure than at a mega developer.
Thanks for the feedback. It’s an experienced associate and have worked in most asset classes on acquisition side so not worried about that. This would be my first development gig and ideally plan to stay for the long haul.
It was only an internship but which role did you like better/see your self long term? I could see myself getting bored of building down the fairway multi but also feel like I’m at a point I need to pick an asset class to specialize in.
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