TLDR: when looking at, or accepting new roles, at what point would the move not be considered a step back or lateral move, but one that would be a solid move forward to progress your career?
The question can be rather complicated, but I'll try to be brief. Consider your current role and title. If you were, for example, a Sr. Analyst at Company A, would a move to an Analyst role (or lateral to another Sr. Analyst role) at Company B, be considered a step back? In other words, is RE so title dependent that you should only be looking at that Associate or higher level roles when making a move? I had a long debate with someone about this and couldn't tell if they just didn't understand the RE industry or if I was being a blockhead.
Ultimate example: I tried to make the argument it was more about experience than the role title. If my end goal is to end up in acquisitions at Carlyle, Blackstone, Hines, etc. and I'm an Associate in Asset Management at a mid-level, relatively no name firm, I would jump at the opportunity to be an Analyst on one of their deal teams doing live deals. The person I debated with said that would be a dumb move and I would be a step back because of the "perceived backwards step".
Feel free to set me straight. I couldn't see the other side of the argument and figured I'd see if you all had any experience with this.
It's not though. A move is not a lateral move or a step back if it is a move into a higher role. If you're a development associate assisting on deals and move somewhere to become a development manager running deals, or if you're a development manager running deals and you move somewhere to become a development director coordinating the managers who are running deals, these are not lateral moves.
You can make a justification for a lateral move or a step back, and you gave a perfect example for when you would make such a justification - going from an Associate at a no name firm to an Analyst at Hines for instance - but it is still a step back (or a lateral - titles in real estate are rather nebulous). You are taking a strategic step back, sacrificing your current role/title for what you think (and what probably will be) future gain. Some people might think this is a great move. Others would never consider it. There's no right answer here.
tl;dr Who gives a shit. Do what you think is right for you. Whoever you debated with has different values, risk tolerances, goals, etc. so what is right for you might not be right for them.
Titles rarely make any sense in the CRE world.
Step up in responsibilities = step up Same responsibilities = lateral Less responsibilities = step down
Sure firm and pay come into play here but let's not overcomplicate this thing...
The problem that I've found is that any interest I receive in the job market doesn't seem to translate. It's a lateral move or a move with some more responsibility with the same title (sr analyst), but the pay isn't as strong. The salary is almost the same or a little raise but the bonus is definitely not as good.
I am frustrated because it seems like I have to climb the ranks at my own company until I can get the title change and a significant raise. And my looking at the job market as a whole looks like a desert for those who want to move up and have between 4-6 years of XP. There's even a topic on the RE discussing how many of us in that bucket are stuck.
We are all dealing with it.
You gotta push yourself at your current firm. It's hard, no doubt about it. Put yourself out there. Demonstrate your investment prowess to the seniors.
I think there is this gross misperception that we all deserve the bump up.. and it simply isn't true. 5 years of modeling deals ain't going to get you there. No one cares. Modeling doesn't matter.
Unless the big title / pay bump falls into your lap by function of luck you're simply not going to get to the next level as a younger professional unless you bring something to the table.
You don't deserve shit and anyone can do what you do, unless, well, they can't, and you add serious value somehow. Whether that be salesmanship, hustle, forward thinking / second level thinking, investment acumen, etc...
There may not be a quote that young people on this site need to read more
Titles don't really mean shit unless you can back it up with execution / experience. I recently spent 6 months at a shop where the head of acquisitions was a lizard brain moron who had no idea what a discount rate or s&u ment, he couldn't even link up two different excel file but he was "bros" with the founders which was more important than who could do the work. i spent 6 months at the firm with a bullshit title aka ACQUISITION SPECIALIST. i put on my resume acquisition associate and landed a job as an acquisition manager with a credible group. last shop was a syndicator that bought core assets and showed 18% return to investors to raise capital. shit hasn't caught up with them yet but it will sooner than later. any moron can use a lower cap rate at exit to show 18% IRR and get dumb money to invest in deals. i explained my story to companies after getting FIRED due to disagreement with management and got a job offer in less than 3 weeks with almost 50% increase to 100% increase in pay based on ability to source deals (my base pay went up from the shit company too). anything is possible in this industry. also, network with industry insiders once or twice a month, that's how you will land that next gig or learn how to drive impact :)
I wouldn't look at a role change in that way.
If you change job, perhaps you move area completely and it will be a step down in terms of responsibilities and compensation, short term. But why did you take the role? Most likely because the long term benefits outweigh the short term negatives. So it may be a step down for a couple of years but in the grand scheme of things it's a good move that will pay off, so you could consider it a step up.
Picture a FO guy who decides to go in MO or BO because he wants to spend more time with his family. Professionally that would be considered a step down, clearly. But is it a step down for him? Probably not, he gets to spend more time with his family which is more important to him.
Basically, you wouldn't even consider taking a role that YOU consider to be worse for yourself overall. It doesn't matter what other people think, if you think the other role will make you happier in the long run, go for it.