How Long is Long Enough
Currently working as an analyst with an investment sales team. Pay is solid, decent deal flow but I would like to transition either to a brokerage working on larger deals or somewhere on the buy side. I've only been with this group for a short time so I'm wondering how long for it to be acceptable to jump ship? I'm networking at available opportunities and am somewhat confident I'll be able to find a desirable position I just don't want to feel like I'm screwing over current employer
Interested in this as well, but how long is a "short time"? I've been in my current spot for a year now when the position is meant for 18-24 months. So I'm pretty curious as to what others think is acceptable.
I've been in my current position shorter than you have, it would definitely be too early for me to leave I just wanted to know at what point it would be acceptable to actively pursue other opportunities
Worthwhile opportunities never come at the "right" time. I've jumped ship after 10 months at one group and don't regret it (albeit, I was also changing markets, so I didn't have to worry about relationship impacts).
If you feel qualified to transition and have plateaued on your learning curve, then I would stop wasting time and start looking.
If you're sourcing a few deals a year, and in brokerage, that means 250k+ of fees, it's time to at least poke your nose around town for other ops.
Six Inches.
I appreciate the response, I'm not currently sourcing any deals which is why I feel like it would make sense to jump before I start sourcing deals and developing an expertise in an area im not as interested in.
Are you not interested in brokerage long term? If not, you should probably wait at least a year and a half in my opinion. If you want to stay in the same market, presumably doing acquisitions, you don't want to piss off a brokerage team that could be a significant contributor to your deal pipeline.
If you want brokerage, then obviously it depends on a lot of things. Is there a spot on your current team, is there an opening on a larger, more profitable team, etc. What's your logic on transitioning to a brokerage with larger deals, though? Unless you are trying to gain some type of product/deal experience that you aren't currently getting (like if you're only doing retail and want to get office/industrial/multifamily/hotel, for example - or if you are only doing stabilized assets and want to get exposure to development deals), doing 'bigger deals' isn't going to get you much more except for exposure to bigger players. If you do a 20 tenant suburban office building that's $20 M, for example, it's pretty much the same as doing a 45 tenant CBD office building worth $100 M, all else being equal.
From the ground!
Are you based in NYC?
Dallas/Atlanta/Charlotte/Houston type
1 year, roughly, always feels like a proper benchmark. I have absolutely nothing to back this up other than knowing other people who also think 1 year feels like a proper benchmark.
All that said, don't bounce around unnecessarily and don't make a habit of it and few people will question a 6 month stint that didn't work out as long as your resume as other much longer stints
I agree--one year seems justifiable to anyone you may speak with.
Be aware though--working on "larger deals" doesn't always mean more money. A lot of times it means more work for the same amount of money. Make sure to properly identify what asset class you are most interested in. If you pursue what you genuinely like (rather than what is most glamorous), the money will eventually take care of itself.
I appreciate the response. I am less considered with the money aspect. I really enjoy real estate but the deals I work on are about as straight forward as they can get. When I say I'm looking for bigger deals I mean more I want something a little more interesting/complex than an absolute NNN walgreens with 20 years of lease term left.
Dollar General is hot right now, I get it. I understand the monotony. And the cold calling.
Don't worry about feeling like you are screwing over your current employer---it's business and as long as you can look people in the eye and show gratitude, you will be just fine.
Agree with 1yr being an acceptable minimum. 18 mos to 2 yrs is ideal but only if you aren't hurting yourself by staying that long. When the right opportunity comes, take it. Important to exit with grace and express thanks (even if you don't necessarily feel that way).
If the team is solid and you are aren’t hating life and getting mistreated (and of course obviously learning) then I would try and stay minimum 1.5 years and try hard for 2 years.
I know one guy who was at a top IS team for 2.5 years as an Analyst and in his final review they basically asked him if he wants to stay on and pursue a career as a Producer and he was honest and said he wanted to go to the buyside. The team loved him and the head MD personally vouched for him for positions and he ended up landing an acquisitions role.
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