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?
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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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