Offers - Goldman Sachs, Clarion Partners, Macquarie Group
Long time lurker here, first post. Wanted to get advice on a few opportunities I have. I’m younger-ish in my career, looking for reps on the investments team, don’t mind sweating.
Clarion partners - acquisitions
Goldman Sachs - pia asset management (would like acquisitions but I think this could be good experience)
Macquarie Group - combo of am and acquisitions.
I’ve also got traction at a few small repe firms. In final rounds with a group called wheelock. Pretty indifferent on them though.
Are they all in the same location? Personal preference would determine top choice. I would focus on the vibe of each team and how you felt with individuals you interacted with.
How's comp at Macquarie? Always have wondered
It may be the lowest paying of the three, but doing pure acquisitions at Clarion is likely the best experience. Even if it’s core+ / sleepier deals.
Massive name in real estate + starting out in your desired field can save you 2-3 years of lateraling around to get to where you want to be.
After two years at clarion you should be near the top of the pile of applications for associate roles at the higher paying shops.
I also think you can’t go wrong with Macquarie. They do some interesting deals and are more opportunistic than Clarion.
The only job you absolutely shouldn’t take is Goldman. Honestly after thinking about it while writing this, might go with Macquarie. It won’t be your final destination but the deals there will give you the experience that the $300k+ associate roles will want
Clarion or Macquarie would be my vote if you want acquisitions and name brand. Clarion is probably a little sleepier but no denying their profiles, investors, and deal sizes. Placement into mm pe or emerging fund mangers will be solid. You can also lateral into a larger REPE firm bx or Starwood.
Wheelock is very legit and would consider them before the three you mentioned if you don’t mind very long hours. Lean and opportunistic shop and you will learn a ton but it will hurt.
Goldman is an easy out despite being the sexiest name. You want deal reps, and asset management at a big corporate place is going to be exactly not that. Name brand seriously does not matter that much in real estate. Deal experience is king when building your resume.
Clarion is a classic old school institutional RE shop. You will likely get solid deal flow here, but one of their biggest investment verticals (office) is basically lifeless at the moment. They're big industrial guys and have that heritage beyond it being the current hot place to find opportunity. I personally think it's important to be exposed to a bunch of different asset classes, others would argue it's good to lean into a niche. Something to chew on.
Macquarie is a huge diversified shop so would need to know more about the opportunity and team to opine. A combo role can be good, but again this is a huge institution so I would be wary - be sure that you're going to get meaningful exposure to the transaction side. If you have conviction about the role, great. Big plus if you're going to be working with both the equity and debt teams, although I doubt that's the case.
I don't know Wheelock but from a cursory glance it looks like exactly the type of place where you get really good experience. A smaller team format where you get to do a little of everything, and where they're actually formulating investment theses on a continuing basis vs. searching for assets that fix their preformulated box. Moving with the market and getting to work on complex transactions across the asset spectrum is very good. I would take a very serious look at this role.
Share comp numbers on all please sir
Macquarie
Can you share more about GS AM role? Will send DM.
I’d go clarion all things net. They know what they’re doing and it’s a great shop to cut your teeth at.
ultimately, go where you have a natural pull towards though (ie, connected best with the team, culture seems healthy, etc.).
Does clarion have acquisitions in Dallas? Or is at all NYC and Europe?
Are these offers for the same city? If not, think about where you’d most want to live and which of these companies have the best culture specific to that city.
Macquarie analyst base at 100 or 110k depending on which real estate group you’re talking about and bonus is pretty unknown right now. Historically mediocre, but last year was big (100%) and apparently could be the norm as they more aim to be a name in the US and attract top talent.
Goldman's RE dept is and has been in disarray for years. Easy Pass.
Clarion will be boring.
Wheellock or Mac. Wheelock has low key done some interesting deals over this past cycle. Seemingly smart group.
What about Goldman's debt side of CRE? Specifically their loan management division?
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