Wondering about exit opps for an analyst in multi family capital markets debt and structured finance. I currently work at a big agency lender (think CBRE, NKF, walker Dunlop) as an underwriting analyst. I really want to get into originations though, 1) how long do I have to stay an analyst (1, 2, etc yrs) before transitioning?
2) should I move laterally at the firm I’m at or go to another firm?
3) what is comps like for a junior originator? A junior originator working for a top producer?
Thnx
does being an underwriter give any kind of advantage on your resume than going straight into origination?
Absolutely. You'll have knowledge on how to do a deal, the process, etc. You should also have some relationships with producers, clients, and so on
You should be figuring out what market you want to work in when you make the switch, do research on all the teams in that area that produce well and start forming relationships with whoever you can. Plenty of people make that transition. If you play it right you'll be able to really hit the ground running when you make the switch
thanks! any idea what comps an originator with 2 years underwriting experience would get when making the switch?
1) Analyst time frame can range from 1-2 years, depending on your knowledge base and how well you pick up on things. Also better know how to sell your brand/product/etc before you jump to originations
2) Either works. Lateral at the firm appears to be a seamless play since you should know all the right people, but you could go to another firm and be a junior originator. Would have to play politics and all that at a new firm though, meet the right people again, etc... something to think about
3) No idea on comp, hopefully someone can comment on that. At my firm, I would guess our VP's (who are originators/underwriters) get at least $100k base plus a bonus for each deal they bring in. I don't know if the deal has to close for them to get that bonus though. Again, this is all speculation
I'm in the opposite position as you. When COVID-19 hit, I had to join our agency underwriting team to help out on the due diligence aspects. It's not bad or anything, but I was in CMBS originations before this and would really like to get back to that. Oh well, in due time.
What firm or type of firm? I'd hope VPs are like $150+ base
Yeah that's why I said I don't know. There are guys who are like a year or two older than me who make that, but I would assume our more seasoned originators' base is more in line with what you said. Our first year analyst base is $80k
Small firm with 40ish employees, private RE debt group with multiple strategies
Gotcha, makes sense. Some of these firms or brokerages throw around titles like its nothing too, so take that with a grain of salt.
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