Which RE companies aren’t sweatshops?
Trying to target non-sweatshop companies in my search. Focused on equity roles, preferably NYC. Can you provide some names? Even if pay isn’t amazing, that’s ok. I have intel on some but would love to hear more
So you’re not willing to share your intel? Why would I share mine then?
Lifecos - no surprise to anyone, Invesco, Aew (not in nyc)…honestly that’s where my list ends as I’m not certain about other companies
Theres some information on BGO on here but not much. Any one have actual insight on comp/culture? Would they fall under LifeCo?
Curious too. I don’t think they’re lifecos - traditionally lifecos are PGIM, MetLife, NYL, Paclife, AIG, etc. I don’t know specifics about Paclife and AIG.
As for BGO, I don’t know
I know you said equity, but the hidden secret has always been balance sheet lenders.Working at like Wells or JPM on traditional balance sheet lending. The hours are like 35-40, good quality of life, and you can make a nice $200K+ salary. I know its not everyone's cup of tea. On the equity side, I think the life insurance companies are probably better.
Yeah unfortunately, I don’t have much debt experience. I’ll take it! I’m just not in a phase of my life where I can burn the midnight oil. Have kids, etc
Echoing above. I’m at one of the large balance sheet lenders (not one of the 2 aforementioned) and we have multiple people with equity experience. Comp is great for hours worked but I’ve been on calls with seniors past 12 and on weekends.
The one thing I will say is, you may be bored / frustrated by the processes at a bank if you come from a private equity company. The work isn’t always interesting and it can be hard to get some stuff done. I would also say that a bank can be a revolving door so you may see a lot of people coming and going.
Does anyone know how JP Morgan asset management is doing? They’ve had a few people leave and some new hires
Is this JPM real estate asset management? Which group in particular at JPM?
Yup exactly JP Morgan asset management (that’s the division that has several RE funds), not IB. Specifically asset or portfolio management.
A lot of development shops are not sweatshops due to the nature of development. You aren’t more effective in development by working 80 hours vs. 40. All that matters is results - anticipating issues and responding to them - whether or not that takes 4 hours or 40.
you should mention that the pay is terrible under VP.
Concur with this assessment
Hate to break it to you, it ain't much better at VP for most shops. Just shit in general
I think that the baseline isn't that sweaty but I think recently almost all dev shops with deliveries since 2022 have been incredibly sweaty. Everyone and their mother is running into overruns, loan workouts, lease up/sales not hitting projections, rents not ripping and making proforma, etc. It's been incredibly rough at least from what I've seen around my peers and layoffs that have been shoving more work on fewer people. Either you're overworked or unemployed it seems like
God bless em, f**ked around with no cushion for interest reserve and now getting cost overruns. Guess it was luck after all. Development is overrated and just a fee game today.
Being a developer building pretty things at an institutional developer is 1000% overrated. Being a developer doing your own deals is I think has become lowkey underrated. You really need less capital than you think and there are just so many more ways to make real money doing development/value add work compared to acquisitions.
Development shops without new deliveries are sweaty right now too, if they have any office exposure. Tons of workouts, super high levels of stress over existing deals where tenants are rolling off.
In fairness to the original question, there is a large difference between stress and sweaty. Principals may be freaking out and losing their hair but that doesn't always translate to junior people getting slammed
smaller firms where decision makers have already made big $ and never have to work another day in their lives. Could be GP, family office, small fund, whatever
Fortress is pretty chill and has great culture from what I hear
Hear Rialto is super chill, 9-5 type beat. Similar to Ares
what group at Ares is 9-5? Equity or credit? and if equity Acq or AM or PM?
I'm guessing that was satire
I’ve worked at Ares its not “chill” work-life-balance wise
Hahaha you will never get this you will never get this La La La La
And then
He get this
I feel like vertically integrated RE shops or REITs can be chill. Otherwise maybe some smaller repe firms that don't have billions of dollars to deploy every single quarter.
Generally though Good Firm = Good Deal Flow = Longer Hours. I've seen people at my firm go from deal team to PM / AM work in order to have a better lifestyle too.
Anyone have any insight on Rockwood? Given their AUM I'm assuming they work pretty hard, but from what I can tell they haven't been very active on the acquisition front for past few years.
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