Background: REPE, institutional asset management, a short brokerage stint I withhold from resume, now at a small SoCal sponsor/brokerage. Two exits were layoffs/restructurings and two were short stints that didn't work out, so on paper it looks jumpy.
Currently running acquisitions, asset management and dispositions for a small shop, basically solo. Thr firm would completely collapse if I left. Just ran a full acquisition (PSA, title/survey, closing on a messy tax-defaulted asset) and I'm operating it post-close. I have my broker's license and have closed a couple of capital placement fees on my own outside of the company I sourced on my own.
Comp is $75k with no defined commission split (it's discretionary up to ceo so far everything has been $0 ), even though I'm on every listing agreement and do 100% of the work. I took the job knowing the principal already when I needed something out of desperation. He regularly tells me I should be glad to have a job and that institutional MDs make $120k in this market. IN fact I'm basically a bottomless pit he rambles and complains to 24/7 while finding something wrong with everything and everyone but himself.
Questions:
How do you explain multiple short stints without it reading as a red flag? Is in-house transactions/execution at an owner-operator realistic, or should I lean into brokerage now that I'm licensed?Anyone made a similar move in this market? What worked?
It sounds like you're in a tough spot, but there are actionable steps you can take to improve your situation. Based on the most helpful WSO content, here's how you can approach this:
1. Addressing the Choppy Resume
2. Evaluating Your Next Move
3. Navigating the Current Market
4. Compensation and Current Role
5. What Worked for Others
Final Thoughts
Your current role is unsustainable, both financially and professionally. Start positioning yourself for a move by refining your narrative, networking aggressively, and targeting roles that align with your skills and goals. Whether you lean into brokerage or pursue in-house roles, your experience running acquisitions and managing assets is a strong foundation.
Sources: 5 Things that Determine Your Success as a Commercial Real Estate Broker, Stuck at Current Firm, Real Estate Megathread - The Best RE Posts on WSO, https://www.wallstreetoasis.com/forum/real-estate/starting-my-career-in-cre-five-years-out-of-undergrad-brokerage-vs-development?customgpt=1, Running out of time and options in a big, big way; have no idea what to do; losing my mind
Bump
Kind of hard to believe this situation. Others can chime in but seems reasonable to say company was restructured and your group was laid off, or whatever the truth is.
You could try and get an offer and tie up a deal at the same time, but if you have to leverage someone to be fair, it’s probably not someone you want to work for long term.
I have leverage but he cares more about money then leverage and will torpedo stuff over his own ego or greed.
I'm trying to do both, the job market is basically nonexistent for people like me.
You should honestly try to get any job you can. I don't know why you are still working for your current shop if what you said is accurate. I would insta-quit if I were you.
Everything is accurate. Its worse then I even mentioned.
Can't really afford to quit.
What?
How short are these stints you mentioned?
8 months
3 months (omitted from resume)
1 year
18 months
This is only 3.5 years. What have you been doing for the other 2.5?
Side deals where I ran entire process from negotiating OA/LOI/PSA on behalf of clients through DD and close, underwriting side gigs on bullpen and upwork, current underpaid role where I was a 1099 for a couple of years while working in sales or as a golf instructor on top of everything else.
I've spent the last 2.5 years pretty much doing that and been at current job full time for 5 months.
Idk I feel like my career with a big shop making a high salary is probably over which is what I need the most right now.
Just send out resumes and see if you get bites. If companies have an issue with it, then they wouldn't interview you.
I used to get a lot of interviews haven't gotten any in the last few months.
This sounds like ass and if you can’t get another job in CRE quickly I legit think you should get an MBA and/or leave the industry.
What do I pivot too? Is my career over?
Pivot to another job in CRE.
If not- something else that interests you? I can’t give you the answer man but if what you say is true I would’ve quit yesterday. You’re dealing with complete BS and worse you aren’t learning from good people. Environment of negativity.
There is no point working this hard, dealing with this level of mental abuse for $75k. And given you are struggling with finding another CRE job… I’m just saying there are other careers out there. I love this industry and am not as down on it as many on this site and in real life seem but I would rather do a lot of things than what you’re doing. You need to leave.
You are getting hosed.
…and institutional MDs do not only make $120k in this market.
Well apparently according to the ceo if you don't own a home where the average home is 4.5M where we live, then you're a loser.
He also bought his home 30+ years ago for $750,000.....
I think you are overstating your role. 75k is nuts. But, this still doesn't make sense?
How am I overstating the role? There is no one between me and the ceo and the ceo has no idea what is going on for every deal we work on.
What makes no sense?
I was in the exact same position as you, except in debt brokerage. But can definitely relate with the shitty boss, pay, sole junior running every deal etc. even the same area!
I ended up pulling the trigger on a masters degree, graduated a few months back and have a much better job now. Will attest to the weird job market but have doubled my salary, albeit not at the most name brand firm like I wanted but it’s still a great place and role for me.
If you pursue a masters, your story will resonate with a lot of hiring managers because them or someone on their team went through something similar and you have actual deal experience which is a huge plus.
Its funny the last two guys in this position both left for grad school but they made more then I did they had splits. They both had to exit as far away as possible.
Seconded on the comment that the environment sounds too negative to be beneficial to your career. Working around guys like that are draining.
You absolutely should quit, apply to grad school, and go be a ski bum for the winter.
Your comp is low enough you don’t have golden handcuffs, and if you have no participation in the deals, then forget your boss and get out of there asap.
I'm a good skier I'd love to be a ski bum.
Also the ceo jsut had a medical emergency so I'm now acting MD and cant work a few days ago so it's now gotten from toxic to straight dehumanizing. He's completely broke liquid cash wise (illiquid hes got a high net worthso hes pulled me off all listings so he can take all the commission but expects me to do the work for it) and now expects me to start producing for him on a PIP as of today.
lol dude, he put you on a PIP? Quit immediately. I’m serious.
Dude just quit and get a regular corporate job. Entry level at Big 4 is more than $75k and less work.
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