Taking A Non-Deal Role To Get Me Through This Down Cycle
Imagine a scenario: Acquisitions associate/vp level person is laid off today. The only role provided to them is a non-deal role (no AM, no Acq., no Development)
Would it be wise to take a real estate role that is non-deal oriented for a year or two, and then reapply to Acquisitions at prestigious REPE's/AM's once the market gets hot again?
Also--don't say MBA, lol.
What do you mean by provided? At the same shop? If so I would take that while starting to look elsewhere
if not at the same shop and it was all I could get atm + needed money then I would still take it and continue looking
Based on the most helpful WSO content, here are some insights:
Taking a Non-Deal Role:
Alternative Pathways:
Industry Insights:
In summary, taking a non-deal role during a down cycle can be a wise move. It keeps you engaged in the industry, allows you to build and maintain connections, and positions you well for future acquisitions roles when the market recovers.
Sources: Career Advice: Family Office (RE Developer) --> MBA --> REPE, Q&A: Non-Target State School with 3.1 GPA to REPE Acquisitions in Major Market, Switching from Big 4 to Acquisitions: My Story, REPE Megafund Asset Management Comp, How Would You “re-do” Your RE Job Hunt?
If you were offered to do y at your same company vs fired take the job lol. People are still getting laid off and many are still looking in the 6-12 month range. Everyone wants to do acquisitions all day but in reality if you want to own real estate you have to know different areas. Just take the job and in a year you may be one of the only people left as others in acquisitions and development had the mindset they were too good and decided to leave, you can then actually jump back and say hey guys I was doing acquisitions for 2-3 years before this seems the market is picking up can I start to head up that process and you leveled up a few spots but showing you're willing to do what's needed and hopefully they reward your loyalty. Seems like it's a decent company for giving you the option instead of just firing you.
I would do it depending on how desolate your recruiting landscape looks / how long it starts taking to get a new job.
It's not uncommon to see people who have really strong resumes do a short stint somewhere random in between two banger IB/PE jobs. For example, dude goes Associate -> Partner at an UMM PE firm, then gets burnt out or pushed out and works at some random Consulting firm with one of his MBA buddies for a year and a half while he rides out his non-compete, before joining another UMM PE firm as an MD/Partner.
Of course if you already have a jumpy resume and/or minimal actual deal experience this is a less quality option.
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