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Comments (18)

Jan 7, 2022 - 7:49pm
RealEstateRealTalk, what's your opinion? Comment below:

Good question. I'd say my least favorite part was that often, when analyzing a new or reporting on an existing investment, upper management would often request multiple scenario / sensitivity analyses. This would sometimes lead to me juggling 3-5 different models at the same time, all with uniquely different assumptions and return metrics, and could often be a painstaking exercise. However, it was obviously necessary to avoid delays in executing business plans and it actually minimized the additional busywork I would have to do down the line, so it was worth it in the end.

  • Analyst 3+ in RE - Comm
Jan 8, 2022 - 3:48pm

Interesting. We're the models you were using for underwriting not dynamic or were the sensitivities asked for just really complex? At my firm, most sensitivities asked for are manageable within the one model

Jan 7, 2022 - 8:00pm
Urban Mogul, what's your opinion? Comment below:

Specifically pertaining to your time at Tishman, how close were you to development? And did you get to work across the asset classes or were you siloed? Also, if you don't mind, was compensation below market or at market? Don't have to give exact numbers. 

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Jan 8, 2022 - 1:27pm
Lazerboy, what's your opinion? Comment below:

What advice do you have for someone who is a freshman at college? I have an internship lined up for Spring 2022 but I want to also find one for this summer as well. The reason why I'm looking for internships is that the college I go to is a non-target in NYC (Baruch college) and I feel the need to do the leg work to be considered barely even to kids at target schools. 

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Jan 8, 2022 - 2:04pm
RealEstateRealTalk, what's your opinion? Comment below:

Several points:

1) Based on my experience, I don't think most RE firms have "target schools" in mind when looking at applicants, even at the larger shops. Obviously there are inherent advantages in being from a "target school" (whatever that means to you) but I went to a small liberal arts school for undergrad and have personally worked with more people coming from non-Ivy backgrounds than not in all of my roles, including interns. 

2) To maximize your chances to land a solid RE internship, I think you have to a) build out and leverage your network to the best of your ability (as cliche as this sounds) and b) lower your expectations about which firm you land at (if your goal is to build a long-term career in real estate private equity / development). This means being okay with going to a smaller firm with fewer employees and lower pay in the short run if you can't secure an internship right away with a big player in the industry. This will pay dividends in the future when you have a strong skillset that will be attractive to and well-compensated by firms both within and outside the real estate industry. Talk to your friends at Baruch, family, and even professors. Scour LinkedIn for mutual connections. You need to work hard to see if someone in your network knows anyone, at any shop because real estate is a relationship-based industry and that's how you will likely find your way into the space. And remember - Adam Neumann went to Baruch too ;) 

  • Analyst 2 in IB - DCM
Feb 12, 2022 - 1:55am

I have an opportunity to interview with a small REPE firm meeting people on both the RE Investment team & CRE Lending team. As someone with no prior RE experience (honestly I lucked out getting this interview), I'd appreciate any help:

  1. What are some "must knows" for interviews? 
  2. Any sources/guides/primers on revenues/expenses per sq ft, vacancy rates, cap rates, etc., and how things have changed the past few years? I know CBRE/Colliers sometimes publish regional data
  3. Differences between RE Investments & CRE Lending from a compensation, work life balance perspective? Is RE Investments more prestigious and would lead to more exit opps / headhunters (i.e. the equivalent way of how M&A is regarded in the IB hierarchy)?
  4. Any resources/guides/case studies for financial modelling for RE?

Thanks in advance for any guidance and help! 

Jan 9, 2022 - 3:53pm
RE.exe, what's your opinion? Comment below:

I'm currently a CRE analyst working in asset management for a relatively small company (~50 employees). I help manage the company REIT as well as a portfolio of loans on the private side of the business. I work on a small team (>10 people in my department ~$3B AUM) and I am putting in a solid amount of hours. It is my first job out of college and I only have one non CRE internship on my resume. I am grateful for the experience I'm gaining and understand I'm not in a bad situation by any means, but I feel that I'm being underpaid for the work I'm doing. I make $58k base salary plus a 20% target bonus, so my total comp is around $70k (I'm also in New York but not NYC, if that matters). I'm about 6 months into the job and I am looking for career advice as to what I can do to increase my comp or other career paths I can take from here to increase my salary.

1- What other job opportunities can I pursue with a background in asset/portfolio management? Is IB a stretch?

2- How long should I wait before considering other roles? 1 full year?

3- Is going back to school to get a Masters in RE worth it?

4- Am I an asshole who is making enough and should just take what I have? 

Appreciate any input and feel free to rip into me if I have it good and I should just stay put and do my time at this company.

Feb 8, 2022 - 11:23am
bwg1123, what's your opinion? Comment below:

What does Comp/ hours look like for someone joining a RE firm? Either out of undergrad, or what position would I have if I did a few years of IB first?

Feb 9, 2022 - 7:57am
no.agoun, what's your opinion? Comment below:

Hello, do anybody know how are salaries for Analysts year 1 ( after graduating) in firms like La Salle or Tishman Speyer, WeWork in London? Any bonuses? Thank you,

nora 

  • Associate 2 in RE - Comm
Feb 9, 2022 - 7:55pm

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