How pigeon-holed would I become by working in Real Estate Investment Banking?Subscribe
So I have an offer for a Real Estate IB Group at a MM bank. I have spent the past year in a "regular" industry group. Although I am interested in Real Estate, I don't know if this is what I want to do for the rest of my life. Just how pigeon-holed will I be by working in REIB? How easy would it be to jump to a non-RE PE firm?
Can anyone provide any color on the matter? Did some searching but didn't find anything useful.
Will Working In Real-Estate Pigeon Hole Me?
Real-estate has a specific skill set that isn’t traditionally considered transferable to finance at large. A career in this field will make it harder on future job searches outside real-estate. You start to be seen as ‘a real-estate guy’. There’s no way around this unfortunately so before you commit to it, you want to be as sure as possible.
User @Scandal explains it like this:
The valuations in real estate are not as complex as other industries (arguably), and you'll develop a very specific skillset. If you want to be in RE long-term, then take it; however, in IB you'll eventually want to move around or switch more often than not, so I would suggest you move to a group that's more cookie cutter.
If you decide to go into real-estate and decide it isn’t for you, it’s better to leave it sooner rather than later. Early in your career, as user @prospie points out, it will easier to fall into banking than later on. Early, you haven’t learned enough yet for it to be a hindrance:
Agreed. It will never get easier in your life to change careers than right this second. If I were you, I'd take what you can get:
- MM or boutique i-Banking (even if you have to join a lodging/RE group and later, lateral to something like tech banking)
- Corp banking or other products in the fixed income/debt world (this could be a decent angle given your current role on the debt side)
- Big-4 M&A-related groups
- Even Corpfin at XYZ Corporation
- If you have any interest, you might be able to get a look from a 2nd tier strategy consulting firm
Read More About A Career In Real Estate On WSO
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- Career Path In Commercial Real Estate
- Career In Real Estate?
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