Brand Name to No Name - what would it take?
What would it take in terms of comp and increased responsibility to jump from a brand name/job security to a small private office, especially in the current environment?
Participation in upside would need to to be attractive and above what market was a month ago. Think about it like buying a deal. There is more risk in this environment so you need to get paid to take on elevated risk levels.
Unsure what you're doing now but if you have the opportunity to jump from analytical --> relationship / deal guy then that's the jump that makes it worth it. Hardest jump in ones career and it comes with it's own set of challenges. Some will never get that shot.
More importantly you better be ready personally and professionally to take on the stress and responsibility of being a senior member of a lean deal team.. Make sure you have good partners and that your skill sets are complimentary.
It’d be more analytical to creating an Asset Management function, so similar step up. no sourcing mandate, but of course possible there would be some
So if i understand correctly you'd be tasked with building out an asset management platform?
If so, that's a big deal and would be favorably viewed in the future should you want to move.
People like people that build/create things.
Is the job for an operator?
How does the new role compare to your current role? If it's the same but with more responsibility then disregard this, but sometimes it's easy to think we can build something with which we only have a passing familiarity (speaking from personal experience).
Comp, equity, bump in title is obviously important, but if the day-to-day is a nightmare because you don't have a mentor that can assist you, then the spoils of success will never materialise.
Experience with the new responsibilities is the first thing I'd weigh.
Comp is just one small part of work life. Lifestyle, autonomy/increased responsibility, being sick of big corporate BS meetings, the people, more interesting deals, more variety in work, access to mentors can all be good reasons.
Couldn't agree more. Plus, in this hypothetical, you would already have the brand name on your resume.
Comp and a bump up in responsibilities.
Chance to "quarterback" a project
I was in the opposite situation--i recently left a small private office overseeing AM for a bigger company with brand name. You definitely get more autonomy but it comes with a price. You'll likely get paid less and way more responsibility with the owner having full control of your income and career trajectory for the time being. My advice would be to see if you get along with the founder / team. Also see how owner treats his non income generating employees. Good luck man
is SourceScrub brand name?
I mean, once you are 'established' in your career I don't think 'brand name' will mean much. If the name of your firm is you cool point, then well, you still have some growing up to do.
That being the case, I can totally agree that being at a big name shop early in ones career can be better, all else equal, than at small 'no name' shop. But really, I don't see why that would stop you from being awesome and making a name for yourself through your work. In some ways, its easier to be recognized as 'big fish in a small pond' than fight against the massive numbers of people at the big firm.
So, I guess the answer to your question is that I would place 'name' way down the list of importance for job when compared to items like role, people, title, comp, training, lifestyle, etc. I honestly don't think it matters as much as people think.
I think it's all about selling it, if you're worried about future exit oops or whatever - there are some really cool and sophisticated small shops in RE.
This. I'd argue the smaller shops are more interesting. Brand name doesn't mean a ton in real estate, or at least not on the developer/acquisitions side. There are tons of smaller folks doing incredibly interesting, lucrative deals. They just happen to be regionally focused, or asset focused, and the people running the place don't have a giant ego that needs stroking from puff pieces in the real deal all the time.
I would argue, strongly, that if someone is focused on brand name in CRE then you don't really understand how the business operates. No one hires off the strength of a resume, they hire off an interview. To my mind, a person who has been an architect for ten years and has experience in interacting with local municipal officials, in site planning, in understand what works where and why, is far more attractive as a potential hire than someone who has been sitting in Blackstone's office doing MF acquisitions for the same amount of time. Every job requires a unique skillset, and unless you're truly doing a lateral move, it's the quality of experience that matters, rather than where you got it.
I don’t care about brand. The concern is really understanding what you’re getting yourself into at a smaller shop. Totally agree that experience at a small shop can be better/broader
depends on how hot the receptionists are
CBRE Transaction Services Coordinators to the rescue
I've seen a number of friends/acquaintances do this. At the end of the day, upside, equity, and pay are all that matters. Make sure you fully do your due diligence on the firm though. One of my friends left a very cushy acquisitions role at a well-known fund to chase the potential upside at a small shop. Turned out they were psychos that had no idea what they were doing. 6 months later he was gone. Has been very tough for him to find another brand name to even interview him.
Aut vel id aut laboriosam corporis odio. Neque ex vero voluptatem veritatis fugit fugit. Repellat necessitatibus id in molestias est ab. Quod dolorem optio laborum. Laborum quas assumenda officia et totam.
Quod ut ut rerum omnis consequatur. Numquam distinctio consequatur et ipsa. Iste inventore ab aut explicabo autem harum.
Unde qui expedita voluptatum quo facilis dolorum. Laudantium est cum inventore fugit.
Temporibus molestiae hic eaque non aut cumque repudiandae. Natus accusantium ut eaque iste ut omnis. Eius qui et ipsa voluptas et. Quas dolores similique repudiandae corrupti accusamus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...