Switch from Investment Banking to Commercial Real Estate?
Is making the switch from an investment banking job to a commercial real estate job realistic/easy? I am a college student considering investment banking, however I think if i dislike investment banking I would pivot to commercial real estate. Is this something people do?
they might even prefer your experience if you have real estate investment banking background.. even if u are in other coverage group or product group i'd say you still have a solid chance (given the work discipline, excel skills, etc) as long as you have a good story and lot of people have done this
If you’re sector agnostic give real estate IB a look. Straight shot to RE PE at a megafund and if all else fails you could go work for a top developer or go to b school then either of the above.
Why do you think you would dislike IB? Why do you think would like or prefer real estate?
I heard commercial real estate is a lot more interaction with people, while IB is more sit at a desk, fill a spreadsheet, and do financial models all day. I also hate the fact that most jobs in IB require a ton of hours (80+). I may be wrong in my assumption, but I've interpreted it as... Real estate is easier, more boring, less competitive, more people interaction, and still offers good money if you're good at it. Am I right in assuming this or am I wrong?
Are you after the commissions from CRE? From the people I know in the industry, it takes about 3-5+ years before you see real money coming in. You will spend the first few years building your pipeline.
CRE ? Thoughts? Be sure to check out his history of discussions on the topics.
Yes. I'm definitely after making high six figures and maybe one day seven figures. I know it will take time and only the good brokers make those numbers, but I mean only the good investment bankers make associates and partners and shit right?
It's hard to comment on this because of the lack of information and lack of knowledge by OP. (Not meaning that in a negative way or being an ass or anything - it's normal for a college kid)
Difficulty of entry, lifestyle, day to day at the job, personalities that excel in the roles, etc. are all so different - not to mention "commercial real estate" is an industry, not a career. In that industry, there are an extremely wide range of potential roles, both entry and end game.
I guess what I am trying to get at is this... I want to make the most money possible, with the best work/life balance there is in commercial real estate. I have no idea if that is being a broker or not... If it is great! All I'm looking for is a high six or seven figure job in commercial real estate and from what it looks like... that seems to be a broker. Right? Or no?
Sorry for such a broad question, I just don't have too much knowledge on the subject.
Urge you to read all of the threads on the site... There's a breadth of knowledge already on this subject. The super abridged version, however, is:
People who crush it on the brokerage/service side are fewer and far between than people who crush it on the principal side. However, the people who do crush it on the brokerage side can make multiples of the $ people on the principal side can.
If you're a super aggressive/energetic person who can handle rejection and can learn a good amount of market knowledge while also being OK with potentially not making any money (literally) for months at a time, then brokerage might be for you. If you're not as aggressive/more pensive, more interested in the heavy duty financial/technical knowledge of CRE, then the principal side is probably for you.
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