Eastdil?
what is everyones thoughts on ES in UK?
are they worth joining in terms of salary, culture, work/life etc
anyone that works at ES?
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anyone?
One of if not the best entry level roles in European real estate. Best comp, best culture, normal IB work/life. Good luck getting in though unless you're from Oxbridge.
what's the analyst comp?
I really like this group. Particularly more than their US colleagues.
any details on WHY they're the best?
what's the big deal? and what is the expected salary?
I think people would interpret the word best in a few different ways, but I would say their reputation and prestige in cre advisory is at the very top. They work on big deals and are pretty sophisticated. Additionally, what makes them pretty unique is the fact they have a “counter-culture” which prides itself on following an investment banking structure instead of typical brokerage shops. I’m not saying they pay the same or work on similar assignments as Moelis or Morgan Stanley. I’m just saying there is a firm wide base salary from analyst to MD, which is rare in brokerage.
I don't know about their internal workings (in terms of pay, culture, hours, etc), but when it comes to acting as the advisor/broker on buying, selling or financing large real estate assets/portfolios in the UK/Europe, then they have a lot of dealflow and work with some of the top sponsors (I've seen them on a number of Blackstone deals). I work in real estate debt in London and they're constantly showing us transactions.
thx for info.
when you say "show us deals" what do you mean? you buying the debt on secondary or you invited as debt holder in primary offering for RE assets?
Usually a sponsor would contact Eastdil to arrange debt for them, either to fund an acquisition or to refinance something. Eastdil don't really do secondary debt transactions as far as I'm aware as they lack a balance sheet, that's usually the realm of the large IBs and corporate banks.
ok so any comments regarding salary and culture? what is career progression like there?
Eastdil is one of the premier REIB's in the world and the UK. Analysts and Associates there will get cranked in terms of the number of deals you do. They have an incredible training programme. Once you have done 2 years with them you would have been exposed to a wide range of real estate deals. Compensation is very good, on par with the EB in London, with analysts salaries around £60-70K GBP with a 40-100% bonus. Hours are long (9:00-23:00/0:00). Past the associate level, WLB improves compared with others in the IB scene with leave times around 21:00. The culture at the bank is very much work hard, play hard as they are quite a social bunch. Exit opps are very good for REPE, but people tend to stay longer than 2 years.
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