Investment Analyst Advice, what should I be doing different?
Hello,
I have been working for a commercial real estate firm for the past 4 years under it's Capital Markets Group selling its non-traded reit investment products. I'm trying to transition to an investment analyst role whether that means acquisitions and/or Asset Management but I seem to be having trouble even getting the opportunity to interview for open positions even at my own company. I have earned my Argus certification, passed the first level of the CFA designation (I'm not sure if it's as relevant but it did give me a great understanding of DCF analysis) I am taking courses to improve my excel skills and I majored in Finance with an "ok" GPA (although I graduated in 2011). What else can I do to improve my chances of getting a shot? Would anyone be willing to critique my resume to see if I'm completely missing the mark? Any other suggestions would be greatly appreciated as well. I understand I work in a highly competitive market (SoCal) but I would have thought I might at least get a phone call.
It sounds like you know a lot about Finance, what do you know about Real Estate?
Your qualifications and experience are useless if you are not actively networking aggressively. How many coffee/lunch meetings/face-to-face sitdowns are you setting up per week with people at shops you are attracted to in your market? If your answer is less than three per week, put your head down and put in that kind of time for at least 2-3 months before you start questioning your qualifications/skill set. It sounds plenty solid to make the transition.
You were absolutely right, I have been networking my ass off for the past several months now and it's finally paying off. I'm actually getting the interviews/introductions now.
I was in your same position. The way I transitioned laterally was to hone my position within the company as the technical analyst on the sales side. Over time, many of the wholesalers came to me when there were any technical questions on the underwriting model, etc. This ultimately evolved into its own role, where I became the go between with the acquisitions team and the sales team. This is when I really got to sit at the table with the Acq team and the investment side of the house. Over time I made the right contacts on the side of the business that I ultimately wanted to work on. Eventually, this paid off, and I was able to secure an interview for an opening and ultimately convert it to an offer - and have been working on the finance/investment side ever since.
This whole process took approximately 12-18 months...Thus, it can be done. Keep in mind, you were much further along in your career than I was (fresh out of undergrad working at a NTREIT shop).
One of our brokers told me how much he made last yr.... I'm starting to think acquisitions is yhe wrong side of the business to be on.
Lateral moves within the company can be difficult. Think about what you have done to demonstrate that you show good judgement and rational thinking? Firms look for that regardless of asset Mgt or acquisitions. Depending on the firm, cultural fit might also factor.
You may need to recreate yourself at another firm, since 4 years is plenty of time to see if you are going to get "favored nation status."
I tell folks in your position (be it they are in research, property management, etc) to take advantage of being in their firm and try to learn as much as they can if they can get access to people and project info. For example, to the research analyst who has just one or two sections of the investment memo, read the entire memo and understand the investment rationale, risks, and reasons why a particular bucket of money has interest.
Take the initiative. A lot of times as an analyst, or even someone starting their own shop, you are going to have to follow leads to keep digging for more info until you have some unique perspectives that are useful and not standard. That's how you will add value as an analyst/investor.
Be like water on a roof, eventually seep your way in. Nice job with passing CFA level 1. You have the drive, but I think you need guidance and also need to know how to pivot and accentuate your current experience. Also, it is damn hard to become an investment analyst at a reputable company. Very competitive.
Ask yourself whether you are acq or AM material. You might apply to both, but you need to understand what makes you tick so you know what you are strong at.
Hey!
Thanks for the advice, I actually have a few interviews lined up for this week. I'm a little nervous about the conversations I should be having but I think I'm prepared. Any insight about possible questions that could be asked in a preliminary phone interview for a real estate analyst position?
The only way to move laterally internally is to network, especially for FO positions. If you don't have a good relationship with the hiring team then why should they hire you? They are getting thousands of external resumes or even internal as well, who's qualifications are better. They don't give a crap that you're currently a "value" member of the firm. They want the best candidate possible and most of the times it's someone externally who already has relevant experience.
I currently work for a CRE Private Equity firm in LA and want to move to one in NYC. Any advice out there?
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