REPE offer selection help

I'm currently in Toronto and was considering NYC for better pay and job oppourtunity. I recently received a Toronto offer and hope to have your help in making the decision.

Current Job: REPE AM & PM Analyst

Pros: Excellent culture, reputable brand name, diverse tasks

Cons: Significant underpayment and lower position level, management discourages ambition, limited growth opportunities


Toronto Offer: REPE AM Associate at a BX portfolio company

Pros: High growth potential without concerns about capital raising, learning opportunities, pay increase (+20-30%, but much lower than the investments group)

Cons: Long working hours (challenging with a young child), high turnover, demanding work environment combining operations, accounting, and finance (contrasting with the more analytical nature of current role)


Moving to NYC mid-this year. However, there are uncertainties in finding a decent job while having an ok WLB.


Thank you!!

Job Decision

Stay (REPE Analyst)
11% (7 votes)
Toronto REPE Asso
55% (36 votes)
Move to NYC
34% (22 votes)
Total votes: 65
 

As a father of two toddlers, WLB is everything for me. 20-30% pay increase means jack to me. Unless I'm more than doubling my pay where I know I can afford top quality child care and other needs, its not worth me. However, everyone's preference is different.

One major piece to note is I'd be worried about job hopping right now. Market is complete garbage. Granted, you're in AM so you're in demand, but I dont like uncertainty.

 

I agree with this. As a father of a toddler as well, the pay increase has to be really substantial to make more hours worth it. While I wouldn't say double, I would probably say a 40%-50% increase would be what I would want.

That being said - I voted for the REPE AM Associate position. I think the operations piece would really help your career; I wish I had a chance to spend a stint there before my current role. Is asset management at a portfolio company really going to be super demanding hours?

 

once they’re up and running and parenting is as auto pilot as it could be (say HS age) do you think your focus will shift back to maxing out your compensation?

 

Hmm. Thats a good question, haven't thought that far out, but not really. Once they hit HS age and assuming their college reserves are fully funded then I probably don't think I am going to push myself. Like I see myself traveling and chilling. Why do aim to max out compensation in the first place? Its so we can provide for our kids, build a savings, have the luxury of buying experiences/products. If by my 50s, I already have all this then I don't think I will push myself.

I think the tough part about becoming a parent especially in our industry, where ambitions are in fully supply, is that you hit a sense of self-realization. When we're in our 20s, we all want to start our own firm, raise a fund, become CEO, etc. But if you're goal is to also have kids, it's incredibly difficult to achieve that. I know some that have done it, but let's say they were pretty neglectful of their own children, not by their own choice, but simply the circumstance. Not saying its one or the other, but its incredibly difficult to be good at doing both unless you have like a stay at home spouse. Anyways in my second part I went off on a tangent.

 

Just a side note, not sure what BX port co this is but they’re actually known for their WLB.

 

Not entirely aware of the COL in Toronto compared to NYC, but would that increase move the needle that much considering NYC is a super expensive place anyway?

Not sure the increase is meaningful if NYC COL is just going to eat it.

 

On a ball park it seems both COL and compensation in NYC is ~1.5x higher than Toronto?

Feel like the city choice could really come down to personal preference on career growth, life style, etc. 

 

Voted for you to stay in your current role. I think you can also take the new role. Moving to NYC would be the last decision by far, the job market is very competitive. A lot of people in Masters programs still looking 6-12 months after graduating, a lot of people getting cut and all competing for the same acquisitions, am, etc opening. 15-20 family referrals at groups when a very interesting role opens up at a top shop, almost impossible to get in from normal applications or even connecting with others. Was getting many interviews through applying and connecting with people 2 years ago, getting none of that now and getting ghosted even after being forwarded to MDs through peer connections with a job opening.

 

Would be curious to know if you think LA, Chicago, SF, etc. other top RE cities have just as competitive of a job market right now. Could be an option for OP.

 

Although I studied in US for a few years, I do think Toronto has higher competition. There are very limited job openings in Toronto and the market is quiet conservative when looking at your past experience. I could be wrong and would love to hear more from you! FYI My husband will help me sort out visa issue which I am very thankful for.

 

It's not that, NYC is still very competitive all roles are getting minimum 300+ applicants and it is not easy. Know many people who were laid off or graduated and are looking 6 months later so if you can deal with that come. Maybe start looking now and connecting with owners/places you want to work but there are very few roles open at the junior level.

 
Most Helpful

A few aspects that you should consider for either place are:

- Job Stability: how secure is your position in your group? Foresee any layoffs or possibility of being replaced by another hire from either internally or externally? Asking as some groups have seen various waves of layoffs and re-orgs
- Progression: surely while both firms sound like they have good trajectory, do you foresee the ability to move upwards or does it seem more stagnant / bloated in the levels above you? Do you see the potential to move up after your analyst role wraps up, and by how much would pay improve in the analyst seat?
- Fulfilling work: while not everyone wakes up super excited heading to the office, are you more interested in the nature of the work in the new group or current group? 

 

Feel free to message me. I don't consider myself successful or whatnot - Imagine someone with a kid but is still an analyst! :( 

 

Either sounds like a good role. Find the place where you like the group, they appreciate you and have respect for you.  

 

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