Craving corporate structure in boutique NY acquisitions

Anyone else find themselves only working with 1 or 2 other people. This is how my last two jobs have been and its absolutely depressing. Anyone else craving corporate structure who's stuck at smaller shops and learning from 1 superior and 1 other peer.

Comments (20)

Mar 9, 2016

Grass is always greener on the other side...

I've done both and I prefer the small shops, but depends on your personality.

Mar 9, 2016

Absolutely hate corporate culture. Work in an office of about 50 people. Would prefer an even smaller, less bureaucratic shop... Have also worked at a MM bank, so I know all about corporate culture.

Mar 9, 2016

It really depends on your personality, do you like repetition or flexibility? Stability or volatility? Specialization or generalization? These are really the only difference between a small shop and a large corporate shop. Well that and what most of the young guys here crave, prestige.

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Mar 9, 2016

Its just boring to work on acquisitions so independently with only person to discuss it with. I literally work with 1 asset manager and a CEO. At a slightly larger shop, I would have 2-3 people above me I can bounce ideas off as well. Getting really fed up with underwriting NYC assets. Considering looking for roles outside of NY to focus on different, less competitive markets.

Mar 10, 2016

Just wanted to get in on this thread, as I'm currently at a large firm and jumping ship to another large one. While I agree that a smaller firm would be a lot less hassle in terms of bureaucracy, getting shit done internally, etc (which I've grown to fuckin DESPISE), I'll be moving to a new city, so I feel like the larger the firm, the better opportunity for networking both professionally (brand name, connections, internal mobility) and personally (easier to meet people with similar interests/lifestyles).

Mar 10, 2016

I mean, it really depends. At the small shop I work at, I can come and go as I please--I can take 2 hours for lunch to network and nobody says anything. Try taking a 2 hour lunch routinely at a large company with structured employment.

Mar 10, 2016

Valid point. I guess the way I see it is, at a larger firm, I wont need to take 2-hour lunches to network because the firm itself has so many people/events/etc. Maybe I have too much hope for the whole "camaraderie" aspect of it. Based on your previous posts it sounds like you've been lucky enough to land at a shop with cool people and gain some amount of seniority/tenure, which is awesome. I'm sure it wouldn't be as possible at other small shops for an analyst to take off for a couple hours in the middle of the day to pursue personal friendships, especially since the entire company would notice you being gone. So I agree, it all depends.

Mar 10, 2016

Thats exactly what im missing PEREtzel. I want to interact with people with similar goals/lifestyles. Any tips on getting into a bigger firm. My last two jobs have been working with 1-2 other people and it is absolutely miserable.

Mar 10, 2016

I can only comment on what I've experienced. I didn't realize that you are in NYC at first, but thats exactly the city I'm moving to. Granted, I know a few people there already - and the population of young professional people out and about at bars and social events is unmatched anywhere else - but considering the majority of my time will be spent in the office, I'd rather have a decent pool of people to pursue both professional and non-work-related friendships with all in my same office. Maybe that opinion will change once I'm more established in the city and in my career. As far as getting in, I imagine working at a smaller firm has allowed you to see all aspects of a deal, which is more than many people from larger firms can say. They tend to be more compartmentalized, while people in your case get to see it all. Capitalize on that. Flesh out the resume and focus on that experience, and be able to speak to things more knowledgeably than the next typical applicant.

Mar 10, 2016

The main issue is boredom. I can only do so much as an acquisitions guy. I've walked countless properties and submitted LOI's on tons of deals but most of them have led nowhere. Either there is something wrong with this deal or the CEO decides not to bid up. I can't even confer with anyone at my company because all else we have is a secretary.

Mar 10, 2016

Without reading through everything ... I can totally understand this especially in the real estate biz. At a young age, YES it absolutely can be beneficial to work under a structured corporate program where you are forced to check off lots of boxes and really drill down to details and keep your shit together.

... Whereas at an older age, I and many others would be much more likely to say "fuck corporate structure."

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Mar 11, 2016

I'm new to the game but I've started at a really small shop, CEO, CFO, 2 Directors, an Asset Manager and 2 EAs. I'm the only analyst but I'm really enjoying the exposure to any part of the business I want. Not many people can say they are getting deal experience from only being in the biz for two months I reckon. I could see the upside of the corporate culture as well and think it would also suit me but there is going to be pro's and cons of both.

Mar 11, 2016

I worked at a small firm prior to joining a BB. I would say that you actually learn so much more a smaller firm because you have to actually do more. You can't delegate certain tasks to other people. This means actually being more independent and efficient with your work; this will make you a much better worker and ultimately leader. You'll actually do everything from origination, research, due diligence, marketing and even admin work like literally making sure documents are signed properly and in a timely manner. Nevertheless, I will say it echo what others have said and say it sucks being the only analyst surrounded by an army of non-finance people.

I am now at the West Coast office of a BB lending house,so I would say it's very similar. When you work in a smaller office, you get so much more exposure to the deal, and if you're not in the mothership in NYC, you tend to wear many more hats. Being a few thousand miles away from NYC means that your work often gets filtered to the bottom, so you have to make it a lot easier for them to look at and work on your deals.

All in all though, I would highly recommend working at a smaller shop at some point in your career because you get so much more exposure to the actual deal. Whereas, at a larger shop, you have the ability to get stuck doing one task/job, which in my opinion is boring.

Mar 11, 2016
IronChef204:

Nevertheless, I will say it echo what others have said and say it sucks being the only analyst surrounded by an army of non-finance people.

You know what, come to think of it I should modify my earlier statement. It's not the structure of a large corporation is key; it's the people you're working for. If you're man #2 in a 2-man office and man #1 is an incredibly thorough and savvy real estate finance professional, you will learn just as much. It's really about quality of the people you're learning under.

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Mar 11, 2016

Of course the team you work on is probably the most important thing.

However, when you're working an equity raise memo or waterfall at 10 at night, it helps to have someone to keep you company.

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Mar 11, 2016
prospie:

IronChef204:Nevertheless, I will say it echo what others have said and say it sucks being the only analyst surrounded by an army of non-finance people.

You know what, come to think of it I should modify my earlier statement. It's not the structure of a large corporation is key; it's the people you're working for. If you're man #2 in a 2-man office and man #1 is an incredibly thorough and savvy real estate finance professional, you will learn just as much. It's really about quality of the people you're learning under.

This is a great point. My boss is incredible and I've learned so much from him. On the other hand, if my boss was less than amazing (even average) my role at the principal shop I work for would be much less rewarding.

Mar 11, 2016

This might be off topic but.. What is salary/hours like for an analyst in RE at a commercial BB?

Mar 11, 2016
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