What would you do? Strong brokerage team at top firm vs AM LifeCo
I'm at a defining point in my career and looking for some advice.
I currently have an offer on the table at a top-producing brokerage team that has averaged $15-20M in revenue for the past 30 years. I also just finished final rounds for an AM LifeCo position but timeline is 6 weeks to get an offer back (or not) - I asked to see if I was a strong candidate and they assured me I was at the top of their current list (still interviewing other candidates).
Role specs:
Brokerage team
title: Analyst/Senior Analyst
comp: $120k base w/ variable based on commission but looks like minimum 50%
WLB: 8-7 avg fully in office... brokerage (eat what you kill) weekends likely
AM LifeCo
Title: Senior Associate
comp: $130-140k base all in around $180K
WLB: 8-5:30 avg 3 days in office no weekends
Some additional factors to consider - relocation (no roots there, friends/fam etc) and will need to buy a car if I take the brokerage role. Current WLB is strong at 9-4 avg fully remote, a bit afraid of drastic change but I know it's the only way to propel my career. Any advice or thoughts are greatly appreciated!
Not sure about your stage in life but I'm assuming younger/single. THIS is the time to do the brokerage role. If I took the AM role I'd always wonder what life could've/would've been like. I'd go balls deep in brokerage and see how you like it. It's not permanent but as described could open up many possibilities. I'm very biased (in brokerage but a much better W/L balance) and I think it's a great start.
LifeCo has always been high on my list since it seems like people get there and stay there due to decent comp and great WLB.
If it were me that would absolutely be the direction I go.
I want to point out that you haven’t mentioned which position interests you more. On the surface, it sounds like the brokerage position lends a bit more flexibility for your future endeavors. But, if you’re more interested in AM, or working for an operator/more WLB, the lifeco role sounds great.
On the surface this appears like a pivotal/life defining decision, but it isn’t. Sure, it’s important, but you really won’t go wrong, and fuck, the only certainty you have is that life ends up taking you in a different direction than you anticipated, 110% of the time. Pick what’s interesting to you an excites you now, and build your career and life from there. It’s just one lily pad in the pond if life my friend, and there’s no set path on how to leap from one to the next. Best wishes
What's your current role and YOE?
I wouldn't count on 50% bonus in brokerage in this environment
Op - you’ve reached a point where you need to spend some time thinking about what interests you and what you want your life to be like in the future. Both jobs will be fine and you are pretty sure to be reasonably financially successful if you pick and succeed with either.
So - how would you describe yourself and what are you looking to do for the next while?
Are you hard charging, competitive, want to work hard+long and potentially be very well compensated? Or are you looking for a job that has good wlb, good pay and benefits, stability, and is effectively a corporate job that happens to be in real estate? Either choice is fine and those are just some of the lifestyle differences
$20-$30mm a year in fees? How big is the team? That is a stout number, and if they did that in 2023 they are the no brainer. Kind of a weird fork in the road, feel like the opportunities are so different from each other. I would do brokerage all day, but that’s just me. Brokerage is fun…it’s peaks and valleys but it makes you feel alive. The bad years suck, but knowing the sky is the limit in the good years makes it all worth it. Lifeco seems boring.
Lifeco will have big issues with assets on their books. I would wait it out a a year.
Won't really affect associate level in my opinion.
Wow, what a pivotal moment you’re standing at! It’s like you’re at the edge of two paths in a thick, throbbing, promising flesh forest, each leading to its own kind of adventure. Let’s sit down on this meaty log and chat about it, shall we?
Money Matters
• With the Brokerage Team: You’re looking at a base of $120k, plus the adrenaline rush of commissions that could significantly bump that number up. It’s a bit like riding; you could ride some incredible big ones, but you also need to be prepared for the unpredictability of the d.
• At AM LifeCo: Here, you’ve got a cozy cabin in the woods kind of deal with $130-140k all in, promising a steadier, more predictable financial climate. It’s the warm fireplace you can count on after a day out in the cold.
The Daily Grind
• Brokerage Team: It’s a bit like being asked to run a marathon with the promise of a feast at the end—but marathons aren’t for everyone. Those hours and weekend expectations hint at less time for kicking back, which could shak up your work-life balance.
• AM LifeCo: This feels more like a regular dogging trail with well-marked signs. You’ve got manageable hours and more days to spend out the office, keeping weekends sacred for w/e it is that refills your cup.
Looking Down the Road
• Brokerage Team: If you’re itching for a fast-paced climb, hurtin for a squirtin, ready to hustle and bustle through the market jungle, this is your trail. It’s for those who thrive in the wild and throbbing competitive outdoors.
• AM LifeCo: This path promises a steady ascent up the mountain, with a clear view of the professional peaks you might conquer. It’s designed for those who appreciate a bit more structure on their journey.
What’s Stirring Inside
• The Big Move and Lifestyle Shifts: Uprooting and the need for a car—it’s not just a change of scenery but a whole new landscape to navigate. Does this new terrain excite and arouse you or fill you with dread? Do you stiffen or soften?
• Your Current Sanctuary: If your sanctuary has been a cozy nook with a 9-4 rhythm and the freedom of remote work, how ready are you to trade that in for the unknown?
Heartfelt Advice:
• Dreams and Aspirations: Close your eyes. Where do you see yourself when you dream of your future? Which path feels like it’s calling your name, whispering promises of what you’re seeking in your career?
• Thrills vs. Peace: Life’s a grand adventure, but every adventurer’s heart beats differently. Are you craving the thrill of the chase or the peace of steady ground?
• Values at the Hearth: Imagine your values as a hearthstone, glowing with warmth. Which opportunity keeps that fire burning bright for you?
• Wise Old Trees: Sometimes, the wisdom of those who’ve walked the forest before us can shed light on our path. Don’t hesitate to seek out their stories and guidance.
In the end, my friend, the choice is deeply personal, a reflection of your innermost desires and dreams. Whichever path you choose, may it bring you joy, fulfillment, and the feeling of being bottomed out in.
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