Hi all, I recently completed my probation (6m) @ a Hotel REPE, value-add/opportunistic focus in London (small office; two partners + me). WLB is great (avg. 40h), pay is not (£35k base + expected 30-100% bonus) and learning opportunities are ambiguous (working directly with an MD who basically runs the company on his own, direct communication with hotel GMs, helping in underwriting acquisitions, some contact with brokers, lenders, etc.).
Hence, I am considering switching to Acquisitions at a larger fund to expose myself to a more structured growth. We're hotel-focused, but I don't mind joining asset-agnostic fund. Question -> When to make a leap? What to focus on to achieve that?
My current main responsibilities: - AM Investor Reporting -> presentation making, reviewing P&L performance on a monthly basis (I actually rebuild P&L for two of our portfolio hotels), designing analytics (dashboards, automating reports in Excel/PQ), - Acquisitions -> Creative but not sophisticated from modelling standpoint (with 1YOE I am an Excel guy at the company). Process pretty much looks this way: (1) Market Research (STR, Comps) (2) P&L Projections + Scenario Analysis (e.g. Adding rooms, converting office -> hotel, rebranding, operator selection, repositioning) (3) reviewing/adjusting simple DCF template. - Operational Analysis -> Supporting budgeting/forecasting/sales analytics at our portfolio hotels.
I am confident with my modelling skills, just need to refresh everything before applying (+ still have to master waterfalls). In the past I completed ACRE modelling course and FMVA from CFI. I am more than willing to commit to working 60h+ weeks if that translates to growth, learning and increased compensation.
I believe that if I were to join this company with 2-3 years of experience and pre-existing industry contacts, it would be an excellent fit. However, currently, I feel that I may not be in an optimal position to fully capitalize on this opportunity. I spend 90% of time working on my own, supporting my MD by taking reporting (presentation making) off his shoulders and building tools/models in my free time. Company has plans to grow but taking into account current macroeconomic environment, it will take years.
Any advice/comments will be appreciated, Thank you!
Based on the most helpful WSO content, it seems like you're in a unique position with a lot of potential for growth. Here are a few things you might want to consider:
Timing: It's generally recommended to stay in a role for at least a year before making a leap, especially early in your career. This shows commitment and gives you time to learn as much as you can from your current role.
Skills: You mentioned that you're confident with your modelling skills, which is great. Refreshing your skills and mastering waterfalls could definitely make you more attractive to larger funds.
Networking: Building industry contacts can be invaluable. Even if you're not ready to make a leap yet, start networking now. Attend industry events, reach out to people on LinkedIn, and make connections.
Growth: You mentioned that your company has plans to grow, but it might take years due to the current macroeconomic environment. This could be a great opportunity for you to grow with the company and take on more responsibilities over time.
Work-Life Balance: You mentioned that you're willing to work 60+ hours a week if it translates to growth, learning, and increased compensation. That's a great attitude to have, but remember to take care of yourself too. Burnout is real and can be detrimental to your career and personal life.
Remember, there's no one-size-fits-all answer here. What's most important is that you do what feels right for you. Good luck!
Sources: Advice From an Advisor to Senior Wall Streeters, How To Quit Your Job (And Still Win), 2 steps to killing it in 2016 (Pt 2), Career Advice - Bridging the Gap of Good to Great
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