Help me survive in RE
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Help me survive in RE
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Career Resources
Where do you live?
What is the caliber of brokerage (JLL / CB or EastDil)?
50-60 seems impossibly low based on the deal scale / sophistication you've mentioned.
What are your day to day tasks?
Market is fickle but with your background there may be room to move to a more distress buyer (Oaktree, USAA, etc.)
Yes one of those and in London.
Day-to-day is financial modelling, IM and process management. Modelling includes dcf, operational cash flows, sensitivities, scenarios etc.
It is gruelling to do and I am starting to really hate things.
That is absolutely brutal pay for one of those brokerages. What's your bonus like? Low salary but up to 100% bonus isn't too unusual.
I have heard London is rough pay-wise at junior levels though.
Sounds like Eastdil London anecdotally from what I've read on this forum
Agreed, his description sounds like Eastdil London as someone who's recruited for them. From what I heard Eastdil London works you hard, but I also heard pay was excellent. If that pay number is accurate I think that would be a big red flag against them.
Sounds brutal, is the pay typical in London for that role? I am based in the US so genuinely curious, sounds like you are getting screwed. You could definitely lateral to acquisitions, start applying to openings you see, reaching out to alumni on Linkedin, and cold emailing people to learn more about them and their day to day. There's a firm in the US that focuses on debt/equity brokerage and pays similarly bad for junior levels, I frankly think it's a joke and falls under the were giving you a chance to learn which is good but also takes advantage.
See what else is out there, network with people in your industry, are there more junior people on your team you can pass some of the work/hours off to? Also when you get another offer, say it's $100k + bonus, do not go back to you firm to negotiate. They are willingly underpaying you and when you say hey I got this offer that's double my current salary and they miraculously match or offer you $70-80k to stay say no. If you stay 1. They could've been paying you that the whole time and either you didn't have good negotiations up front or they've been screwing you on raises 2. I don't think it ever puts you in a good position as you were ready to leave and now the firm sees you have no loyalty (even though they never do have your back when it goes bad). Look out for yourself first always, everyone else does in their career.
There are people from brokerage with no modeling experience that land acquisition roles. You definitely have the experience needed, try to find a shop where you're mainly focused on UW to get reps, there are a few shops where people say they're in acquisitions yet their whole day is cold calling like a broker for the owner/developer which benefits them but is not advantageous to your skillset besides learning how to sell and get in front of people.
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