Newmark Offer

First, you didn't post your current occupation/role/etc. but you do reference a 20K paycut, that detail may matter, so I'll just assume its some non-CRE job and you want into CRE and this is potentially your first real offer. If you add detail/context, I may amend...

- First, a thought on the pay. Given the hourly rate that translates to about $45k annual if my estimation is right, that is all else equal low... but, trainee appraisal roles are typically very low. This comes from the fact that you are semi-to-fully useless day one, once "trained" (i.e. the trust you do the work accurately and correctly), you go "on-fee" and then this field can be decently well paid (clearly, that is opinionate/relative) with 2nd year comp above $100k easily obtainable at many firms (I'd think the case at Newmark, but I'm speculating tbh). So my other answers

1. Yes, appraisal/valuation roles can lead very well to all sorts of buyside roles... generally most "tracked" to acquisitions, but no limitations for asset management, capital markets, or development. Lots of threads on WSO on these moves, so I'll let you read past ones. It's not the world's easiest jump, but MANY have done it. Valuation is a key skill in investment decision making and the whole acquisitions process (and development tbh), so being good at it is totally a door way in. Jobs like this are also pathways to joining legit IS/DE teams as analysts at brokerages, so jumping to that side of the house at Newmark is probably doable if you work to engineer such. 

2. The "fee split" question is one you should directly pose to the Newmark people. It is a 100% fair question. I don't think most new "Trainees" get put "on fee" in one month or anything close to that, I've heard average time is closer to one year (some as fast as 6 months, all depends how good and fast learner you are). BUT.... they may mean you get some "fee split" meaning even though you are not the principal on the assignment, you get a cut of that principal's share. Trying to figure out what that is worth seems really tough without direct guidance from them. Here is a hypothetical example. Let's say the fee to Newmark is $5,000, and the principal appraisal gets 60% of that (not sure if that is accurate, but seems in reasonable range), so they get $3,000. Let's say you get 10% for helping, that's $300. How many can you help on in a week? 3-5 maybe? Especially if shared around several appraisers (it helps to know how that ratio looks, makes a big diff in earnings potential, small/lean is good here). Just for round sakes, that could be an extra $1000 a week, that easily doubles your pay. Clearly, your speed/ability will matter greatly on that, and the work flow and demands of the team, so I wouldn't just assume anything here. 

- Final point, they know you aren't taking this job to make $45k, you SHOULD ask about how you make more and when! They want you to be money hungry in that context as good for them, so don't shy away from this conversation!!! Also, since this is quoted hourly, is overtime pay something they do? I'd think "salaried exempt" but who knows. Also worth asking.