Hey all,
I need some help! Received two offers from a really big MF C-REIT and a BB for CRE. The roles are similar/both rotational 3 year analyst programs in divisions like asset management, portfolio management, and investing.
Which one should I take? I think I want to pursue REPE for FT next summer and use that experience to eventually become a principal for a smaller shop if that adds any more context. Thank u
This might be a really stupid question, but by C REIT, do you mean a China focused REIT?
Commercial Reit, and ur good
Based on the below, a very tough call. I'd say both are similar in quality. Depends on where you want to be FL vs NYC etc.
If it were me I'd take the JP job but it's close
Company names would help a lot here.
Starwood Property and JPMC/Citi type BB
I see. My feeling is being NYC would be great for networking and exit ops compared to Miami. Both solid offers. Is the BB a CMBS role?
Here is how I would look at it..
Take the the REIT (STWD?) offer if you see a long path with that firm or ones like it. NO reason to "two-hop" if you go direct to your destination. This is a good one, and if you like the firm, offer, comp, etc... take it. Caveat, can you be retained after 3-years? You may still want to go to the market, but it's nice if you have the option. I would think this gig would have a better work/life balance on net (still probably pretty bad..)
Take the BB real estate desk position if you want max flexibility and optionality (especially if its NYC vs. Miami). You will work a ton, learn a ton, and honestly be open/attractive to all sorts of firms at the end of the 3-years. You pretty much have to plan on going to market and/or grad school (less chance of stay-on, but not impossible). I would technically say this route is "riskier" but probably has way higher reward potential depending on what you are willing/want to do (honestly, risk is really equal, but still on the margin).
Good news, you are debating between two good options. I would probably go with the BB offer, but that just me. Really, working for large REIT right out the gate is an amazing way to start. Either path will probably make getting an MBA (or possibly other grad degree like MSF or MSRE/D) in 5 years or so a needed step to maximize potential (if you care about riding the "top shop" path). Alternately, either would let you "downshift" to smaller firms well as you suggest you may want to do (hint, you may decide to stay on the "high road" that's life, you can't predict).
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