Seeking Career Advice
Hi all,
I'm fortunate to be considering several different firms for a full-time analyst position. For some context, I aspire to eventually open my own firm on the principal side of the business. While I’m still an undergrad and unsure of exactly what that will look like (i.e. asset class), I truly enjoy entrepreneurial spirit of commercial real estate and the relationships that come with it. I consider myself a hard worker who is willing to climb through a window when the front door doesn't open to reach an opportunity.
Below are the options I’m weighing. While I’d prefer not to reveal specifics, I’d appreciate any input. Thanks for helping a kid out!
- Institutional Equity Asset Management (~$30 billion AUM)
- Smaller REPE firm with significant responsibility early on and upward mobility (~$4 billion AUM, focused on one asset class)
- Established REPE firm with a large analyst pool (~$30 billion AUM, working across all asset classes)
- Well-known Real Estate Investment Bank in New York
Based on the most helpful WSO content, here are some insights to help you weigh your options:
Institutional Equity Asset Management (~$30 billion AUM)
Smaller REPE Firm (~$4 billion AUM, focused on one asset class)
Established REPE Firm (~$30 billion AUM, working across all asset classes)
Well-known Real Estate Investment Bank in New York
Given your aspiration to eventually open your own firm on the principal side, the smaller REPE firm might offer the most relevant experience and faster career progression. However, if you value a broad exposure to different asset classes and a strong brand name, the established REPE firm or the real estate investment bank could be more beneficial in the long run.
Consider what aspects are most important to you in the short term (e.g., learning, responsibility, brand name) and how they align with your long-term goals. Good luck with your decision!
Sources: Two Offers - Need Advice, Aspiring biotechnology analyst, Advice From an Advisor to Senior Wall Streeters, What was your path to a Real Estate Private Equity job? Looking for advice, Guide for Investment Banking Full-Time Recruiting
You have some nice options here, are they all pretty equal in pay? I'd probably eliminate number 2 since 3 has coverage of other assets, I'll assume whatever team you end up on in 4 will cover multiple assets as well. As for 1, this sounds like an Asset Manager where you'd cover assets other than real estate alone? If you're set on real estate then its just between 3 and 4, 1 if you're not 100 percent. I'd really push towards a role that's more general and provides diverse deal exposure until you know what you want. Spending two to three years in a role like such can give you a good gauge of what direction you want your career to go.
Thank you! I Should have also clarified that it is a real estate equity asset management role.
well then that makes #1 also a pretty competitive option then. Of these roles, is there one that you just like inherently more than the others? I mean, honestly, I wish i was in your shoes with these offers considering how bad the job market has been for almost two years.
#2 or #3, unless #4 is literally Goldman/JPM/etc. and even then it isn’t a guaranteed choice. Depending on the company, #3 might be a no brainer for a few years.
My choice would be #3 for exposure to asset classes, geography, and networking. Should help you figure out which niches you like the best and will set you up nicely for mobility going forward once you figure out where exactly you want to be.
If #2 is a developer in an asset class you have interest in it's a real consideration as well. The downside is you may find it harder to move around if you determine that it's not the asset class or company you love. However when it comes to getting "entrepreneurial" experience that would be the best choice if as #3 is likely to be very siloed / institutional. However being at #3 may help you meet other #2s that you can eventually build relationships with after doing deals and transition to. This happens as well.
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