I'm a second year analyst currently working on the finance team for a developer. I think I made the right choice starting with understanding the numbers, but I've reached a point where I realize I need to pivot. I don't get very excited about new deals, and I can never admit at work just how much I (still) struggle with mental math, financing structures, and the intuition behind each deal. Oh, and I also hate sitting in front of my desk all day with minimal human interaction.
So here's what I AM good at: (1) I am extremely organized and like to set up processes for to track each project I am working on, (2) I am very good with people, (3) I minored in city planning and have always been intrigued about the planning process more than I did the financing, and (4) I have a very good eye for design and spatial reasoning.
It seems like development have always been much more in line with my skills and passion, and I really hope to make the jump as soon as I can. What is the best way to make this switch if I already plan to switch firms? Thanks!
So, maybe I am not understanding your role, but you are already working for a developer? I don't know who what that means for the natural progression at your firm, but it seems like you have already landed a job 'in development'. Given that you are second year (I am assuming out of UG, correct if different), then you are still fairly new. The easiest transition (maybe the only smart one right now) would be internally, if such positions exist the way you think they do.
I would strongly advise you only 'jump' for a seriously better, more senior position. Taking a lateral would not be the best for your career, so I would tread lightly. If you really hate your job, then sure, do what you must; but, as they say, will the grass really be greener on the other side?
The fact is that first five years or so in the industry generally 'suck' comparatively. You are not fully at skill or ease of doing your job, you are not senior, and are generally stuck doing less than you think you can (and this is usually somewhat true). I generally advise people to stick it out at least 3 yrs if at a good firm in a good role, 5 yrs is better. Hopefully you get some promotions in that time.
The best way to 'jump' is via networking or being headhunted, the chance of that increases substantially at the 5 year mark as you now qualify for a whole wide range of new positions based on yrs of exp. If you jump too soon, you can sometimes hit the 'reset' button on your time to promotion timeline (this is a concept, not like a real thing). So, think carefully.
Final note, if you at large development firm, and given your assignment to a finance team the way you describe it sounds like that is the case, then you could start looking around at smaller firms or firms with smaller teams. You are more likely to find a 'generalist' role at those places.
Here is the kicker, the 'generalist' firms really only like to hired experienced people with proven skill in some domain. My firm generally operates like that, most people are semi-generalists on the development teams, but we only hire experienced people (often for the specific skill or background they bring).
Finance is a good background for development firms (plus you are ALREADY at one), so I'd suggest you master it before you try and jump, otherwise you wasted your time. You could look at going into a MSRE/D or MBA program (if you have yet to go to grad school) if you want to pivot, that is also a viable strategy, but more costly.
Good problems to have in all reality!
Thank you so much. This is extremely helpful and addresses many questions I have. I'm still fairly new, so it's good to get perspectives on how things play out over the long run. It seems like I just need to be more patient. This is amazing. Thanks again!
Glad it helps, I've gathered from this board that there is a lot of 'angst' at the 2-3 year mark. 4/5 times I think staying put is the optimal strategy, but again, it's very individual.
The response from redever is great. I agree that the first couple of years in any career path generally suck. You are also generally much more of a "behind the desk" guy in the first few years vs. a "out in the field" guy. That's just how it goes.
It would be helpful to know more about your current role and employer. You haven't really provided enough info to give you a meaningful response.
When you say finance at a developer, do you mean working on acquisitions / financings or are you working on accounting / reporting etc?
Is your current firm a large national developer or a small local player?
The answer to your questions are very different if you're working on land acquisitions in NYC at Brookfield vs accounting / finance associate at Joe Schmoe developer in Cleveland.
Thanks Gerry for the response. I currently work on the acquisitions / financing side for a local developer. Yes - there has been opportunities for me to have this transition, but it would be a lateral move and I am actually trying to move across the country as soon as I can. Would you agree I should just target a generalist position for a small local developer at that part of the country?
A cross-country move (assuming for personal reasons and that it is your top priority) changes everything. You can't be too picky if sticking at your current company isn't something you want to do. Start reaching out and applying for analyst/associate roles in your target market.
So right now you look at raising debt/equity for projects & the cashflow - is that correct?
You want to switch to more of a project manager role, going to the project side, meeting contractors, working on the actual deals you're raising money for?
Curious what do these entry level positions look like, are these the project manager roles on the development side? I know the titles can be different depending on firm, but is that the idea?
Sunt sed atque quia aut dolorum qui. Numquam et libero cumque beatae. Fuga est libero nisi minima velit molestias rem. Soluta repudiandae atque asperiores nulla sed. Doloribus atque porro soluta in beatae sed fuga reiciendis.
Aut porro dolores eum sequi qui. Aliquam sit amet laboriosam rerum est. Modi qui eius reprehenderit sit ad. Tenetur neque dolorem voluptatem qui sed. Delectus enim mollitia tempora rerum optio autem et. Voluptates sed id rem unde labore quae placeat esse.
Quaerat provident voluptate recusandae corporis et. Aut quibusdam consequuntur voluptas consequuntur. Architecto aliquid velit et tempore nisi illum voluptas dolorem. Accusantium neque ab eaque fuga quo incidunt voluptate. Excepturi necessitatibus explicabo deserunt aliquid cum ab.
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...