RE investing arms at Investment Banks
Hey Monkeys
Would really appreciate some insight into the RE investing arms of the top investment banks. To be honest, it’s not something I would have been particularly attracted to (as I assume the hours and work culture mirror the IB side and I couldn't care less about 'prestige'), but I am keen to get a sense of what they are like typically.
The key things I’m (and presumably others on the forum are) interested in are;
● Typical hours - I’m at a Canadian LP (in the London office) where I do c.50-55 hours a week most weeks with virtually no weekend work, and I definitely don’t want to trade that for IB hours. I could probably stomach 60-65 per week but that would be my maximum
● Type of work - unfortunately they are quite discreet so it’s tough to get a sense of what an analyst/associate role would entail i.e. whether you are staffed on particular sectors, investment types (only equity, only credit etc), geographies, and what you’re predominantly doing (reporting, running models etc). Are you given a ton of responsibility at the analyst/associate level or are you mainly guided by your VPs?
● Comp - is it a case where the base is in line with IB and then there’s a different bonus structure or is it different altogether?
● I really really hate this term, but ‘exit ops’, presumably you could go anywhere you wanted after the experience you’ll be getting?
Thanks very much in advance! Hopefully this thread is of use to others on the forum too
Bump
Another bump
Gotta be more precise, most of these points depend on the specific firm/office.
Ah, gotcha. Thought they would all be very similar. I’m particularly focused on MS and GS real estate investing teams.
In general both are very good places to work for with smart people and interesting investments. Investments basically cover all asset classes and risk-return profiles. Hours are not at IB level but still average out to at least 60-70. For the type of work I know that its quite diverse at GS covering both Equity and Debt and have quite a large mandate from a geographical standpoint. I do not think you are required to cover a certain property type (but I could be wrong) and the tasks should be the general ones that analysts/associates do. Comp is dependent on the bank but I know that for the analyst level (in the UK) it is similar to IB. Exit ops are good due to the recognizable names and pedigree of the funds.
Thanking you sir! All in all, I assume then that the culture would be more akin to the large PE funds rather than life co’s/ developers?
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