Where do you go from Agency Underwriting?
I'm an analyst in the underwriting group at my firm focusing on MF SBL agency lending (1-7.5mm). I'm wondering where can I go from here if I end up wanting to pursue other avenues than underwriting/originations? Debt brokerage? Is REPE/development a stretch? I'm open to doing a MRE if necessary. Would love to hear yalls thoughts.
Bump
To get your MBA so you can get out of agency underwriting.
God, you're so punch-able...it's really well done. The idea of a ~25 year old associate bragging about his hairline is perfectly annoying too.
You can definitely do mortgage banking (debt broker as you call it). Surely, at whatever shop you're at now if you want to go into originations. Having an background in agency u/w will definitely help if originations is what you want.
That kind of experience could also be useful at REPE shop that specializes in MF as well. Maybe not mega-fund type of shop but definitely a smaller one.
What is it about the role that makes you want to move? Im pretty sure i know which company and group you're referring to. I am planning on joining but would love to hear from you the pros and cons of the role before I accept.
There are dozens of companies that underwrite SBL - how do you know which one he’s referring to?
1-7.5 is very specific (just look up SBL on Google) regardless I could be wrong but I'm about to be in his/her position work wise and insight would help
I've seen people go from agencies to MF focused REPE shops.
You can do anything you want to it just depends on your ability to network and interview. It is certainly possible to go into development or REPE from an agency background you just need to demonstrate that you are competent and want to work hard. Go on youtube and study financial models for development or value-add, know them forwards and backwards. Be a baller in excel, know formulas, know shortcuts, dont use the mouse. Read industry news like BisNow to stay up to date on what's current. Know who is developing projects in your city. Know yourself, what are you good at? what do you want in a job? in a manager? what do you want to do in 5, 10 20 years? how do you handle conflict? pressure? stress? Knowing yourself will help you in interviews and will allow you to be dynamic and spontaneous without feeling robotic.
My most important advice is to go meet for coffee with someone you know (alumni, family friend, old professor) that works in a target industry and then ask them for 2 more names of other people to go meet, do this 2 times a month (or more) getting more names each time, rinse and repeat, after 6 months you will have met with 12 people that are all connected in some way and you will begin to build a web, tell them what your goals are and ask them for advice. People like to help other people and always have friends looking for good talent. A warm intro from someone you have met for coffee a few times will go miles father than a cold application on linkedin. They will keep their ears out and send opportunities your way if you are patient, once you get a call to interview your studying will pay off and you can ace the modeling exams and talk intelligently about the industry despite no direct experience. Your biggest weakness will be that you don't have direct experience in what they do (95% of junior level applicants will have the same problem) but you can mitigate it with the fact that you have already learned a tremendous amount through self study. Its an uphill battle to get one of these jobs, but they are hard fought for everyone that doesn't have some special pedigree or parents (aka most people).
Feel free to PM me with any questions I have very similar experience to your situation.
Comma - can I PM you as well? Going through something similar. Thanks
Of course
nothing is a stretch if you work hard and believe in yourself!
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