I just graduated from a well regarded, Semi-Target LAC with a low 3.0 range GPA and no real background in finance (not exactly a blue chip profile, I know). Based on conversations that I had while networking, I recently became very interested in Real Estate Investment as a career option. Anyways, I was given a reference through a friend of a friend to a contact that he had working at a boutique Property Management Company in NYC. After a brief phone conversation that started as an informational interview, I was contacted again and offered a position over the phone. The position would be to be an Assistant to one of the senior property managers at the firm, which I was assured was a great way to gain entry level experience for the real estate industry (Salary is roughly 40k, which I thought was reasonable as this is an introductory position). Keep in mind that I am not as much of a high achieving or career minded student as most of the people on this forum, and am basically starting the job search from scratch post graduation (although I do have a fairly decent network though my colleges alumni network and through my fraternity).

Anyways, I was hoping to get insight from people with experience in the industry on whether this offer is worth serious consideration. Would this be a worthwhile opportunity that I could use to get my foot in the door, learn the industry from the ground up and move towards something like REPE or development? (I would say that REPE is my ultimate goal, although I will admit I know very little about the industry as a whole- will be actively researching moving forward). Or would this automatically pigeonhole me into 'property management', which I understand is not a very desirable career path in comparison with other aspects of real estate. I am happy to do whatever it takes to learn the nuts and bolts of the industry, but I would want to make sure that i'm moving in a direction that does not result in me being in a property manager or landlord type position down the road.

Another question that I have: what are the primary differences between property management and Asset Management? I understand that Property Management is much more 'bricks and mortar' and operations type work while asset management is more based on high level financial analysis, but I do get the impression that the terms are used interchangeable a lot.

I really appreciate any replies, thank you all for taking the time to read this and offer advice!

Comments (6)


Asset Management oversees the PMs. Asset Managers are the ones who are involved repositioning assets, budgeting each year, dispositions and so forth. As crappy as Property Management is, I have seen plenty exit to AM. That being said, these people were PMs with some top firms doing high level stuff not being a PM and going around looking at toilet leaks at 2 bedroom apartments.

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This might work in a different way over the US, but in London, where I am based, this is how it works - property management is normally a gateway, never the end goal. If you work for a big advisory firm/fund, you can probably move into Asset Management or into something very professional like valuation/appraisal or lease consultancy.

You will definitely learn a lot about the physical aspect of property and you will get plenty of opportunities to network as you will meet and present to clients.

My advice would be: 1) try to network into a better position, 2) try to get into a wheel/graduate program at a big advisory/fund house, 3) accept the offer you have and leverage it.


What is the product type? Office and retail property management is a lot different from multifamily.

Anyhow, as someone who was a property manager for a year, property management is a trash job that you will get bored with quickly. That said, doing a year of it is absolutely invaluable to understanding the operations of a property and will be terrific knowledge for whatever your next step it. $40k is a bit low, but I would take the opportunity.


It can totally be an entry job, if you make it one.


I interviewed at a large REIT several years back and half of the revenue management team came up through the property management track.


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