Real Estate to... What Comes Next?
Hi All,
Currently do Corp M&A and have been doing so for 3-4 years. Had an opportunity come up to join a REPE shop. RE has always interested me but will be a pay cut from my current role and I have this lagging thought I can't get out of my head of what do you exit to when you're tired of deal work? Coming from M&A I feel like there's plenty of avenues you can go to in the corporate world. Would love some insight into where people go from REPE acquisition teams specifically.
Thanks in advance!
Pay cut from CorpDev to REPE? Are you sure?
Definitely sure, granted I'm at a company who pays well for CD. Talking about a 30k ish cut
And we're talking total comp here?
Is this a big REPE (AUM-wise) and are you technically "lateraling"? I would think there would be some wiggle room on that comp, hopefully.
I took a cut to go into a big Dev shop from a Corpstrat role. It happens when you’re in the right seat that juniors get paid well.
My 2023 comp at my old shop would have been ~180k plus a little bit of stock (~10k). Mostly base too, and that was at 2 YOE for 40hrs/wk.
Just started new role at ~120k year one since I’m basically starting at 0 now
REPE is generally going to out pay Dev roles and healthily so at any level under VP.
There isn't an "exit" - you either move up and start getting promote at the REPE fund, or go off on your own and do your own deals
I know a lot of corporations have RE teams, do you have any idea about them and what they do?
Corporate Real Estate teams manage facilities and corporate leases. Unless it’s a very fast growing Retail (where Real Estate is a key thing to manage, with new development) - you DO NOT want to work for a Corporate Real Estate team. Very low value add work.
Not everything has an "exit". At some point you are exiting into a chosen career path. If that's real estate, great! Welcome to the most elite club in the history of humankind!
If not, no worries. But if you go to a real estate shop, that's that. You might jump between different firms as you home in on what asset class or type of role best suits you, or as you get offers with more pay/responsibility, but you're not going to skip from REPE to being MD at a hedge fund. The only "exit" worth talking about in real estate is the big one, when you go out and hang your own shingle and start doing your own deals.
Surprised about the pay cut as well. Just curious can you share where this opportunity will be located and what type of properties you'll be focusing on?
For the sake of anonymity I'm gonna be a little more broad. Its in the NY/NJ/CT area not in NYC. Industrial focus.
Ok well this combined with the small size of the REPE is why it’s a pay cut.
For a $30k pay cut, unless I was itching to leave my company or I really wanted to move into CRE, you should keep looking elsewhere.
Agreed. Outside of maybe Danaher, you shouldn't be making less or par with CorpDev at a REPE imo.
CRE Would love to get your input here
You can leave deal work for asset management, development, investor relations, brokerage, etc. depends on what you want to do.
As an emergency fallback, I always figure that one could go do portfolio/asset management at a regional bank. It's not glamorous but I imagine coming from REPE, they'd take you.
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