Insurance companies with Real Estate Arms? Allianz and Metlife?

I need some advice. I received an offer from a small re pe shop but I'm also in the first round interviews with Allianz and Metlife for their real estate debt divisions. Has anyone heard about Allianz or Metlife or knows what the culture/pay/growth projection is? Is there any reason to take a Metlife debt side or Allianz debt side over this re pe shop that has a good track record, is expanding quickly, and opportunity to move up the company quickly and have carry? Thanks.

Comments (12)

Jun 15, 2018

What would your position at the REPE be?

Jun 15, 2018

location and at which level (analyst associate etc). Are all the companies offering you same pay package/position title?

Jun 15, 2018

Senior analyst role for Metlife- SF prob 80k -95k starting Allianz- senior analyst/analyst in LA, starting prob 75-80k. Not sure what bonus would be and what benefits for these two.

REPE firm in Texas, around 70k base and a small percentage bonus

Jun 17, 2018

If you want to be in equity, take the REPE role in TX. 70k + bonus is plenty to live there and have a good time.

If you want to be in debt, then Metlife is a better option (they are the largest life company lender in the country). However 105k won't go as far in SF, so that is something you need to consider as well.

Jun 17, 2018

IMO the equity side of RE is a lot more interesting, and has greater compensation potential in the long term. I'd rather be the guy buying property than lending money.

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Jun 18, 2018

stick with equity unless if you really find debt interesting since equity provides flexibility to go either to a capital partner or developer

Jun 18, 2018

True to an extent. Easier, sure, but a debt guy from MetLife will not have a tough transition if he wants to move to the equity side.

Jan 24, 2019

Why do you say that?

Jun 19, 2018

Do these shops actually provide carry? Had never thought that

Jan 24, 2019

I'm curious to hear more about the experience working at a MetLife.

What types of deals are they seeing? How complicated is the underwriting? What are the responsibilities of the analyst? How are the growth opportunities in the team/company (do debt guys have opps to move to met life investments)? General attrition?

Jan 24, 2019

I used to work at a LifeCo lender however our shop was pretty lean, about 20 people. The work can be interesting and for someone with limited RE experience they can be a great place to learn a lot about the field, but after a certain point most of your work is going to be pretty routine. You'll typically have a market or region that you'll get to know really well via Google Maps and maybe the occasional trip to go meet the sponsor, but until you're higher up you probably won't see many buildings or meet brokers & sponsors in person. At the AD/MD level it's very relationship driven, but in my experience I saw more colleagues matriculate into debt brokerage than into REPE, which was always kind of interesting.
My team was in the Midwest and I'd say comp was pretty competitive. Heavier on the base with a small bonus, maybe 10%. This gets closer to 65/35 towards the top. No carry.
These teams run lean though I mean you don't need a huge team of people to lend like $10B a year so I feel like moving upwards can be more difficult and everyone had been there for awhile. Personally, I'd go to the REPE shop. 70k in Texas doesn't sound bad and you'll be much closer to the actual decision makers (I would think). The way these LifeCos are structured even your department head is pretty far removed from the BSD's and the actual deal makers.
My team worked on a lot of stuff, multifamily, office, industrial and retail, so it was cool getting some exposure to different deals. We'd typically look at anything from 5-100MM.
This is getting long winded but I hope that answered some questions!

First post btw!.

Jan 24, 2019
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