At the capital markets level, do investment sales brokers or debt/structured finance/equity placement brokers do better? I know finding a niche for investment sales like industrial or retail is what helps. But does it go the same way for debt brokers? Such as those who strictly focus on multifamily agency financing. Or on the debt side is it better to a generalist and lend for all asset classes?
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IS makes more but is usually dominated by one or two people. debt/equity is the better bet for stable 300k+ years.
This is what I’ve seen too. Superstar sales brokers make more than superstar debt brokers. On average, debt brokers seem to make more and the fee income is probably more consistent (loans will still mature in bad markets and force a refi). It’s probably easier to cover multiple asset types and a wider geographic area on the debt side too.
From my experience, the absolute top IS brokers make more than that equivalent version of debt brokers. With that said though, this is no way to choose which path to go down. I think you’ll make good money in whichever you like more, do you find the asset itself more interesting, or financial engineering / structuring? That would be a good place to start. On the debt broker side tho, Agency originators can make a shitload. This niche is arguably the hardest to do as it’s somewhat of a commodity and all the big owners have their go-tos. The way I see most do well on the agency side of the biz is going to a top agency shop and working your way up.
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