I am currently finishing up my MBA at a t-15 school and have accepted an offer in an IB coverage group. I have recently become more interested in real estate.
My question is, how difficult would it be to pivot into real estate after 1-2 years as an IB associate? What areas of real estate would be a good fit? I would be interested in acquisitions, brokerage, or maybe Development but open to others.
I appreciate your help!
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Are you in the RE coverage group? That would obviously help. My bro did RE IB at a top BB and ended up getting out to do development at one of the largest multi multi family developers.
No not reib. I’ll be joining fig.
FIG is actually a pretty good group for making a move to institutional real estate later on, you get to see more complex financial structures and the workings of financial institutions, all relates to the capital markets side of CRE. In short, you can totally do this if desired.
If you’re interested in brokerage and have a 2 year IB background, I don’t see why you couldn’t get onto a top investment sales / Debt & Equity team. CRE sales may not always be the go to for someone with a background such as yours, but it’s definitely gives you the leg up compared to most. It may not be the most “prestigious,” but a good option if you consider yourself to be entrepreneurial and good with people. It’s also not extremely uncommon for people to jump ship from IS into the investment side of RE through the network the developed. Food for thought on the brokerage side, but any path could lead to a successful career as long as you enjoy doing it.
I appreciate the response. Would a team pay salary plus commissions or do you start off straight commission? Any idea what a role like this would pay?
If you are coming from banking then a brokerage like Eastdil is your best bet if you want/need a salary. You will get a salary and bonus. It will still be a haircut from your banking salary, but the base is respectable in terms of brokerage.
However, the flip-side to this is that you will have more upside at another shop with a bonus structure and that is where the real money is made...you just have to figure out your risk tolerance.
Yeah I’d rather less salary but more upside. What does an average broker make? How long would it take to get to a $200k a year income level? Market like Boston or LA.
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