Institutional vs Private Development Job Choice
Hi WSO, looking for advice on a late 20s/early 30s CRE monkey looking to make a WLB move. (not giving region, company or name away for anti-dox)
Currently in REPE where my hours are long and my Sundays are full of works. Honestly its not for me at this stage of life. I want to be able to go out on a Sunday without a dreaded weekend work text. My top priority is just not my job. I want a family and I want to be able to spend time with the missus and friends. I have a background in development and acquisition and am fortunate to have two job offers, both secured in developments:
- Institutional Development Manager: Hines/Tishman type of company. Doing Development Acquisitions for Opportunisitc/Value-Add fund with development portfolio reporting. Base is higher, annual bonus is decent and small carry in fund (unclear if deal by deal or end of fund). Working across regions. I worry that this will have long week days. However I have worked with before as a counterparty and they are very sound.
- Private Development Manager: Heading up an alternative asset class they are breaking into (said asset class is my expertise). Oversight from director. Good reputation. Base is good, annual bonus is low, % of every development I do (both promote and DM fees). Best WLB from discussions (ie leave when your work is done). Work on one region only.
Compensation isn't really a worry as both are good offers with their trade offs. My main worry is regretting choosing WLB in a single region compared to longer days but cross-regional. I do not know if I will be in my T1 city forever but I currently enjoy it so I expect to be here for at least the next 2yrs. Option 1 gives me most flexibility across regions and could have availability to move within company in different regions. Downside is I expect weekday work to be long and stressful at Option 1 but no (or very light) weekend work. Option 2 is very good WLB, so much that I am very much contemplating it. But I worry that if I ever do leave my region, it will be a hard pitch.
Anyone made the WLB move in late 20s and regretted it? I think I will be happy with either over where I am currently, more concerned around thinking the grass is greener on the other side and that I am cutting my resume building phase short. But honestly I cant do this REPE weekend work any longer. Development specific WLB thoughts would be helpful, thank you!
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