I may have a shot to pivot into a RE Banking program at a large bank. Wondering if this position is solid experience to eventually make a move into REPE? Program spends most time in underwriting across asset classes but also gets to rotate through other aspects of RE Banking. Any insight would be helpful.
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Based on the most helpful WSO content, it's definitely possible to make a lateral switch from a Real Estate (RE) Banking program at a large bank to Real Estate Private Equity (REPE). In fact, it's a path that many have taken.
Here's why this could be a good move:
Compensation: Junior employees at a large bank typically earn higher compensation than those at a REPE group. This could be a good way to build up some savings before making the switch.
Experience: Working in a RE group at a large bank can provide valuable institutional experience. Although your skills may become very niche, this can be beneficial in the long run.
Exposure: At smaller firms, you typically get more exposure to different parts of real estate. For example, you might be the one running the numbers, raising capital, finding debt, and managing assets.
Networking: Building a good rapport with your team at the bank can also be beneficial when you're ready to make the switch. A recommendation from a team member can go a long way.
However, it's important to consider your long-term goals. If you're fixated on a top 10 group, for example, you might want to consider a different path. Also, keep in mind that most REPE firms do not hire two years out - most are immediate start.
Remember, every situation is unique, so weigh your options carefully. Good luck!
Sources: Ask Me Anything: REPE Investment Professional, Need some advice on breaking into REPE, Q&A: Merchant Banking --> T15 MBA --> REPE
The short answer is yes it will assist. REIB says two things to an employer. 1)You've likely worked like a dog in your job and will therefore have a stronger work ethic and 2) You're likely a smarter candidate than most as those jobs are harder to obtain. The usual transition for REIB is a job on the principal side with capital markets being the main exit opportunity and acquisitions/development probably the 2nd most common exit. I would assume this is your first job or a job that will be your entrance to real estate at the very least, it would be a strong option for you if so.
What type of RE BANKING? Are you talking REIB, lending or what specifically?
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