New York Life Real Estate Inquiry
I have an upcoming interview with New York Life in their real estate group and am not finding much information about them on this website (yes, I have researched their website for a high-level understanding of their platform). I have worked on deals with a few other LIFECOs but have not worked with them specifically.
Any insight into the company would be great. From the people I have talked to, it sounds like everyone enjoys their job.
Thanks in advance
What team are you interviewing for?
great company and great people. Many of them are “lifers”. Literally people stay for 20-30 years. You will get lots of exposure and they are very good about moving top performers around the business. Friends there have been in 2-4 roles over the last 7-8 years. Due to the low turnover, it can be hard to move up past senior associate but even those that are at senior associate for 5+ years stay because it’s a great culture and lifestyle.
Knew someone who was there and got a lot of reps on their acq team. Looked at a debt role there which is dealing with their existing book - where you seem to start coming in then move to the equity side. Know someone in that group - the work is very boring and menial. He is not on a team and kind of seems to be out on his own island not really learning much, it's good to have a job but I don't think the role is interesting at all if I'm being honest.
I worked there for 4 years. Not sure how the person you are referring to isn’t on a team - they only operate in teams. It does sound like a debt asset management role where you manage a loan book and work with the person who runs that group. The team is large but your day to day has less people involved.
Personally I loved my experience there. It gave me an amazing foundation about real estate which I still use to this day. I currently work at an office owner / operator trying to branch out to new product types & the amount I have realized I know just from being a generalist at NYLREI buying/lending and managing office/multifamily/retail/industrial has been huge. Frankly I know more about certain product types and what questions to ask than people I currently work with who have been in the business for 30 years. But that’s because they haven’t touched these products.
The team at NYLREI is amazing. All are smart and nice. They have worked together for years so people are generally actual friends. There is a large component of people who have been there for 20-35 years driven by the pension fund many of the “lifers” have. The firm also really tries to promote from within. While it is hard to move up past senior associate due to low turnover and only so many seats - it does happen and you see it. You also see so many people who stay for years even with no promotion because they treat people so well. You’ll see and work on a large amount but still have your life.
It is incredibly institutional and has a large amount of process that you must follow to get things done. So if you hate that type of stuff - not for you. But it teaches you a structured way to review a ton of product and figure out what makes sense.
They also do a good job of moving people around internally. Many people in their “analyst pool” start in loan asset management and the firm won’t always hire externally to fill those roles as they are coveted. So they tap people in loan asset management. The best analysts we had actually came from loan asset management because they knew their way around loan docs and how they functioned. Lastly just an FYI the firm doesn’t have a an “analyst” title. The lowest title is associate. Associate and senior associate effectively has “associate 1 and associate 2” and “senior associate 1 and senior associate 2”. You won’t see this externally (ie.: LinkedIn) but it is why you see people at these levels for 3-6 years. Associate 1 = analyst and senior associate 2 could be akin to either a senior associate to assistant vice president. It is where they will start giving you more responsibility so you can start running your own items (deals / assets / etc.).
Feel free to ask any questions. I loved it there and still have many friends. Would probably go back if the right opportunity arose.
May be true, but I also heard loan AM was very boring just to be transparent with OP.
Depends on the person. Some people like it.
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