Hours/Work-Life Balance for Capital Markets

Have been networking with the some brokerages (JLL, CBRE) and have heard a couple different anecdotes. Eastdil obviously has the most hours, they are working similar to an IB workstyle, but have talked with the Miami office of JLL/CB and heard they also tend to work 60-70 hour weeks, but their pay is more like $120-$150k. 

 

In terms of T2 cities (Boston, Seattle, Chicago) what is the expected work life balance for JLL/CBRE analysts within IS or D/E? Should I expect most of my weekdays to be 9am - 9pm if I pursue them?

Comments (16)

 
  • Associate 1 in RE - Comm
Jan 7, 2021 - 6:14pm

I'm thinking as much, the Miami office is apparently highest volume for debt for JLL, and the associate says most brokers are making $500k, but the job is like IB lite.

The IS office in Seattle seems like a much more relaxed office, but the pay is almost identical, so trying to understand if I should expect similar hours.

 
  • Associate 1 in AM - Other
Jan 8, 2021 - 3:21pm

I think it definitely depends on the team/product, as well as the location, but I'm familiar with the Seattle JLL office, and am pretty sure they put in some late nights... I would say on average it's probably around 9-9ish, but there will be nights where you're working until midnight or later (as well as some nights where you go home at 6.

 
  • Analyst 1 in RE - Comm
Jan 8, 2021 - 2:52pm

Am a current analyst at one of those firms in NYC, regularly work from 9am-10,12pm M-TH with some weekend work. Working on some deals with our regional colleagues seems like they work slightly less. I think 9am-9pm would be reasonable. If it is JLL analyst pay is around 100-150, there is a fee revenue split for all deals with the juniors (adopted from HFF), just from speaking with some friends. I would imagine associate to break 200k in any of those markets.

 
  • Associate 1 in AM - Other
Jan 8, 2021 - 3:26pm

I'd be curious if anyone knows how JLL's hours compare to some of the other firms.... CBRE, CW, NKF, etc.

Do these firms have similar hours across the board? Or do they have different hours/culture?

 
Jan 8, 2021 - 8:37pm

Hours are completely team (Read: Director) dependent as an associate at CB/JLL/CW. If your MD is in the office by 7:30 am, strolling in at 9 will leave you looking for a new gig in short order even if you were working till 12 the night before. High powered individuals get to work early and working till the wee hours is rarely commendable and usually detrimental. 

On a team like this expect to work from 7-8 AM to 6-8 PM. 50-65 hours per week sounds about right. In my experience, 9 am - 5 pm were the "money hours" where you should be slamming the phones and running deals. BOVS, news, call lists and any busy work should be completed outside of these hours. It was NOT a good look to be working a BOV in the middle of the day. An associate's work is never finished. There's always another thing you can do to get ahead and the ones who recognize this and strike the right balance succeed.

Don't miss this type environment in the slightest and find myself more motivated and working harder than ever. There's better ways to inspire hard work and success than someone breathing down your neck constantly. 

 
  • Associate 1 in RE - Comm
Jan 8, 2021 - 10:47pm

Did you feel the stress was built more from the culture of the team, or just the way the job is?

 
  • Analyst 3+ in RE - Comm
Jan 8, 2021 - 9:33pm

Team dependent which is usually the answer to a lot of these questions, but you can assume to be working at min 50-60 hours a week, max can be like IB hours, even at firms below the big three. Comp (read bonus) makes up for it. I'm at a middle-sized brokerage doing d&e and have taken home $180k+ two years in a row. 2020 - we'll see.

 
Jan 9, 2021 - 11:10am

Varies a lot between firms and teams.  When I worked in IS (big shop, big city), I only worked about 9-7 Monday-Thursday and very rarely worked late or on weekends and often went home early on Fridays to either WFH or just start the weekend early.  There were analysts in my bullpen that worked for other brokers that would only work 9-5 and one that regularly stayed later than me and worked weekends.  We were structured in a way where basically each analyst was paired with a broker and did 100% of their work, so it totally depended on who you were matched with.  In other offices at my firm, the analysts were a pooled resource for all brokers, and some offices would be 40-50 hours and others were borderline  IB hours, so again totally all over the place... this was at CBRE/CW/JLL/HFF.

I think it would be a waste of time to try to gauge how other teams/offices work and just try to find out what its like for the position you are interviewing for.

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