Comp & career question - AM vs Brokerage
Okay, so I really don't have much of a salary clue in London so I was wondering if anyone can shed some light.
With the sole focus being earning money, is it better to join and stay at a Brokerage like CBRE, JLL, or Savills in their Capital Market teams? I don't know what the bonuses are like in a normal year, I know this year is an anomaly so I don't want to include it.
Currently, I have an offer to join the Capital Markets grad scheme at one of the top brokers (JLL/CBRE/Savills) however I also recently got an offer from a large AM firm in their RE team (RE team has >$30bn in assets). The catch is I won't be in their fund/transactions team but more so on the strategy team i.e. macro research & fund level reporting with some input into new acquisitions/dispositions.
What would you guys or gals choose? I am at a loss on what to do.
I know REPE is a thing, but I feel brokerage is a better option for that move? The issue is that the grad programme I have an offer from is rotational so there is no guarantee I get placed into the M&A or D/E placement team (I asked HR and I can't give a preference for the teams I want in my rotation - it's just given to me). So after my 2-3 years when the programme ends, I could just end up in a random capital markets team that isn't technical.
Also on the REPE thing, I think I've seen profiles ofanalysts with no real estate coverage, move to REPE firms (hence my worry that brokerage rotations might screw me if I don't get the technical experience).