Advice to transition from Real Estate Finance to IB
Hi all,
I recently graduated undergrad and joined a Real Estate investment firm as an acquisitions analyst instead of joining an IB. I'm a few months in and realized that even though I like being on the Buyside, I would much rather be in "real" Finance. I am planning to do my Master of Finance from 2019-2020 at a good European uni (LSE/Imperial/Warwick). My current role could actually not be any better in terms of exposure as my MD has given me lots of responsibility early on, takes me on pitches, client meetings etc. and we've done 2 deals in the past few months at around 100mm each. I've also been able to sharpen my modeling skills as I build many of the models we use from scratch. I am really happy with the role itself but do not want to work in RE forever. What would you guys suggest I should do in order to not get pigeonholed and be able to transition into IB? I am considering two different options:
-Stick with the role for 10-11 months, do Master of Finance at a good Uni and transition into IB afterwards or -Try to transition right now instead of staying the almost extra year in RE
I am leaning towards option 1 as it would probably not look good on my resume if I left my current job after such a short period of time. On the other hand I'm not sure if working in RE for one year is enough to get pigeonholed.
Would appreciate any advice you guys can offer. Thanks
Seems silly to throw away such a good opportunity. You’ll probably be ushered towards real estate / infrastructure groups at banks anyway given your experience.
Is the pay not good? Why would you spend so much money on an extra degree when your job is already great? Lateral after you get some experience - don’t drop the money on a degree unless you were born rich and your parents can pay for it
This. Unless you hate RE (doesn't sound like it) stay where you are, don't go to more school, and lateral in 2-3 years if you still want to
Thanks for your advice. I don't hate RE but I can't see myself working in RE forever. I'm fine working in RE right now especially considering that I am getting good exposure. I am not sure though if it is still even possible to lateral in 2-3 yrs. I am pretty set on doing my MoF, only question for me is whether I should stay in RE right now for another 10 months, do my MoF and lateral after or try to lateral right now.
Would appreciate some further insights.
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From RE analyst to IB (Originally Posted: 06/08/2018)
I recently landed a job out of college at Guggenheim as a real estate analyst. I was curious if anyone can give some insight on what it takes to internally make the jump to investment banking from the real estate side.
Thanks all!
Congrats man! Sounds like a great role, what were you doing before if you don't mind my asking?
I was an intern at CBRE, capital markets. Worked on a team of brokers as their research analyst.
Guggenheim’s IB team is fairly elite. External transfer to a lesser known group might be easier. Also depends on what your job is, if you have any corporate finance experience, and most importantly who you know.
Also this depends on the firm. I know some banks (Citi/JPMorgan) have great internal mobility (middle office to front office, treasury to IB etc) while Goldman has almost no internal mobility (so I’ve heard). If Guggenheim is like my first example, then you just need to crush your job for two years.
The skillset and knowledge base isn’t really that transferable. Real estate modeling and underwriting is drastically different from corporate finance where you need to be fluent in accounting and 3 statement modeling.
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I think it's possible since you are in a related industry. I think you best bet would be a middle market or smaller shop with a less rigid hiring process.
I am assuming you are wanting to move to RE IB?
I literally have 0 chances at BBs so I will focus my effort on lower MMs and boutiques. I guess it will be easier for me to break in through the REIB group, although I'm open to other industries as well.
Have you ever seen or known any real estate people make similar transitions, without an MBA?
It's doable, try to lateral into a real estate group, real estate private funds is likely where you would be most qualified originally, and then lateral internally after a year or so.
REPE is kinda different from traditional PE though, becuase REPE mostly only focuses on property or portfolio investments.
REPE is fun, but I'm not sure if I want to do it for my career, that's why I'm trying to lateral.
Deal flow not too significant at the moment, although hours are good (never stayed past 8, never worked on weekends.)
Appreciate any advice!
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Does it happen??
Yes of course it's possible. Pick up the phone and start calling alumni in the industry. Networking is the ONLY way basically
Agreed. But kinda a hustle networking when doing full time. I normally go to my car to make calls when it's cold as hell
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would like to hear on this as well
Any updates/success with the transition to REIB?
Moving from real estate to i-banking (Originally Posted: 08/20/2007)
work in a mid size real estate development company in chicago. chances of moving to a BB I-bank's real estate division or PE. Factoring in the dump PE and real estate is in right now? from a target school with prior BB summer experience abroad.
What is your background at the developer? How many years of experience? Are you looking to go over as an anlyst or an associate?
what about an internship in commercial real estate acquisitions to a FT ibd analyst...assuming your at a non-ib firm.
just an analyst at the developer started a while ago. looking to go over as an analyst. will it be looked down upon on the resume if i switch over real soon. thanx
From Real Estate to I-banking (Originally Posted: 05/06/2014)
I am working this summer at a CRE/REPE this summer with plans to go into IB as a junior. Is it tough to get an analyst position with Real Estate as my most recent work experience rather than Finance. I go to a semi-target school by the way.
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