I’ve been recently been approached to work with an Office/Industrial company to work in Asset Management. My background is a Ms in RE and three years of commercial lending for Office/Retail/Industrial before my current two year stint on MF debt.
Just curious on where everyone’s thoughts are on the opportunity? Huge chance to grow in a role with a company. Compensation is about on par but my growth opportunities are limited in my current role. Will have to eventually make a switch to production or climb back office ladder on debt side. Not sure what my ultimate end goal would be, But I’d like to make bank.
How are the people you work with now? How are they at the new company?
I tend to always pick positions on the ownership side over third party positions, so I would jump at the asset management opportunity, but I'm obviously not you.
Current company is good. Great culture and makes up lack of salary for big bonuses. Really like the guys I work with locally, but Not so much my direct boss and group who are other offices. I’m a bit rustled that I was told over a year ago that I was on a fast track for promotion from senior analyst to VP, spent 3/4 of year in the role and then they turned around and hired someone else. They hired to solely to build political favors and goodwill with the other company and it just relegated me which I don’t agree with.
New company seems to have great culture, long tenured folks who are smart and great focus on long term. Would like the chance to be on ownership side, but unsure about moving into this role as we are seeing slow down in economic growth.
Have you already interviewed? I think it’s a fair question to ask the company’s principals - how will a negative change in market conditions affect this role and the AM team? This role could end up being very valuable if things turn for the worst. Based on what I’ve read, what my mentors have told me, and comments from senior people on this site, anyone can successfully run a business plan when markets are on the rise but it takes a smart group of people to navigate a portfolio through a downturn without defaulting on loans and losing their ass. Also, unless you have an opportunity to be on the special assets team of your current lender, I’d rather be on the AM side than the debt side when things go south.
What is holding you back from going into production? Curious as someone that is trying to get into MF lending
It’s really a matter of no openings with quality producers at my current shop. It’s really full everywhere I look outside and people are kinda not wanting to pay an experienced senior analyst when there’s cheaper talent. So I feel stuck in a sort of no mans land.
I see, what kind of analyst were you? Underwriting?
I haven’t had as much experience as OP but curious to know - wouldn’t you not like to stay on in the MF? Would imagine work is interesting and comp should be attractive / continue to be attractive as you progress.
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