Investment sales vs. PE Acquisitions
I’m finishing up my undergraduate and starting my masters in real estate soon and want to get a better idea of what I want to do specifically after I graduate. What are the pros and cons of going into investment sales vs. PE acquisitions. I see a lot of posts on here about people who are trying to make the move from IS to Acq and am wondering why? If you could go into pay structure as well as the money you can expect in your first few years as an analyst as well as further down the road. I understand that Both can be heavily dependent on your team as well as your firm, but let’s assume it’s a good team at a prestigious firm. Thank you
ttlyt_1, have you checked out these or run a search:
I hope those threads give you a bit more insight.
I'm looking for more real estate specific answers
what region?
Los Angeles
It is similar to that of why people in Ibanking want to make the move to PE. Most people that stay in IS are extremely relationship driven and are very good sales people. PE on the other hand is more analytical and compensation potential is there from carry + salary + bonus which adds up a ton, especially if you become a partner at the PE fund.
Don't get me wrong, you can make a TON of money in IS, especially if you are on one of the top teams in the space like Stacom's group with CBRE in NY. In those groups you might be making a lot more than in a typical PE fund (LMM to MM). I think personally, getting into these groups is more difficult than getting into a PE fund in the smaller space (not talking BX, Carlyle, etc here).
I've worked on both sides. IS will give you tons of connections, you will become a modeling pro, see a wide swath of transaction variations, and hone sales skills. Acquisitions will give you a deeper understanding of the value-add process, exposure to asset management, leasing, etc..., and usually affords better work/life balance.
As acquisitions more of a desk job than IS?
It's entirely shop/role dependent.
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