Moving from Capital Markets Brokerage to Dev / Ownership
Coming up on 1 year on a debt / equity team at one of the top brokerage firms and top markets in the country, so have seen some great deal flow, but obviously things have been slow for a time and likely will be for most of 2023. Clearing $100k for my first year, which I am happy with considering the 2nd half of the year turned south. However, it’s my end goal to move to development / principal side. I’m afraid on the debt side I have already nearly tapped out transferable skills for the ownership side (I know that may be a little of an exaggeration, but still). Had a recruiter reach out for a developer that I know has an extensive pipeline. Would it burn a ton of bridges to move after a year to ownership? What would be a reasonable comp expectation? Told the recruiter I would need to be close to $150k (2 YOE outside of RE, 1 YOE in RE). Any other thoughts on making a move to ownership after a short stint in cap markets brokerage?
No bridges burned…in fact you will be helping out your senior with an inside to your firm for raising debt in the future.
In terms of comp…if this is a developer I wouldn’t be expecting that much more than what you’re currently making tbh. It depends on the exact role I suppose. If you’re coming with 2 years of experience from McKinsey or something and you’re going to a Related type developer then ok. Otherwise, you’re not bringing that much value to the firm and developers typically pay lower. Again, there are anomalies out there, but that’s generally what I have seen.
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