I've been applying for the past eight months to many CRE Brokerages and smaller PERE Funds in a major city on the east coast. I was wondering if anyone could weigh in on the pros and cons of taking either job. I know this a "what do you personally want" type of question, but I'd like to get feedback on the difference in positions.
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You're basically deciding whether to go buy side or sell side. I spent a year at a top brokerage in investment sales before moving to an Associate position on the buy side at a REIT. If you're a hustler (and are friends with hustlers), don't mind cold calling, and are a clear extrovert, maybe sell side appeals to you. If you like steady money, financial analysis, more low key people, and better job security, maybe you're more suited for buy side. This was my pathetically stereotyped observation and I'm sure there are people who disagree. Having spent a year in broker I found I prefer the latter.
If you want to go PERE but can't get in then your second best option would be an investment sales position at a top brokerage shop with the idea of moving to PERE later.
REPE vs Investment Sales? (Originally Posted: 03/15/2016)
Which would you pick for a job immediately after undergraduate and why? I was told the investment sales position will get more exposure to financial modeling across asset types and risk segments while the PE will have more of the market analysis finding deals! Which would be best if I plan on becoming an entrepreneurial developer eventually?
Investment sales at brokerage houses are typically spent just preparing OM / BOVs. You will not get the true underwriting experience that you would get at a PE shop that is buying the asset.
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