Invesco Real Estate
For anyone who has insight into this, would love to hear your general thoughts on Invesco Real Estate - reputation, deal flow, culture, comp, etc.
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Never heard of them
Use the search function and look at the PERE rankings. There are tons of threads about them...
They are a major player in institutional real estate investment management, ranked #11 globally in AUM (#8 in North America) per the 2020 IREI rankings. Literally one of the most household names in the industry. Thus, reputation is of highest grade. Can't personally speak to your other questions.
They're on of our LPs. Junior folks seem to like it. Get the vibe that work/life balance is pretty decent. Don't know comp specifics, but I imaging pay is average to above average but could be wrong.
I've heard from a couple people that pay is average at best, maybe even subpar a bit. You go to work there for the opportunity to learn and exit ops.
I would think exit ops would be taking a new job for promotion/higher pay/etc. Most people seek out buyside institutional real estate management as the "exit op" so not sure what you are looking for in this question.
My point is that people likely stay within the industry, go to similar type firm or similar type role, or property type, fund type, or whatever. The term "exit op" implies exiting the industry/field (like your observation of REIB to buyside in Invesco). If you leave Invesco to go work for AEW or Nuveen or something like that, I wouldn't call that an "exit".
Thus if you can't move up (not sure I believe that comment, but still often easier to leave than wait for promotion), you take the next job with promotion/pay bump at the next firm. That's just normal career moves.
Thus, when you say "exit op" I take it as leaving for something like brokerage, banking, development, or something else far field. I guess you could do all of that, but most people seem to stay within the buyside realm they start in, as it is career maximizing to do. REIB, brokerage, lending all open up "exit ops" to buyside, but this isn't really meant to mean a two-way door (but I guess it could be).
Curious to hear your definition of reib. Do you mean property level advisory at a brokerage firm? Because I’m not sure gaming and lodging ibd analysts are pivoting there, but I could be wrong.
I've heard the same thing. Also, I think the path to equity upside is really tough. Definitely a great place to start, but I don't know about staying there long-term.
That's what I've heard too. Hard to move up the latter there. It might be an exit op from REIB, where you can start a bit higher up the chain. But if you're starting your career there, or that's your second job as a 1-2 year analyst, you'll likely stick it out long enough (3-5 years) to earn a promotion, then jump ship where you can be more a Senior Associate/VP level candidate, depending on the firm.
Depends on what you want to do. You could go find a smaller development/investment shop where you're helping source/manage deals (whether development or acquisition). Could potentially land a role at a place like TCC/Hines. Or maybe jump to the capital markets (brokerage) side of the business.
An analyst role at a shop like Invesco is going to teach you to core of the business really well (modeling, valuation, deal structure, etc) and potentially give you some contacts to add to your network.
My thoughts for comp and reputation would just depend on experience and where you live. I think Invesco becomes a nice play coming out of undergrad and maybe if you’re situated somewhere less dynamic (I.e. Texas, Georgia). If you have experience or business school under your belt, and live coastal, I’d probably standby as there are dozens of other firms in arms reach. But either way, I think they have credible LP’s and partners with sophisticated sponsors, which is always great exposure. I’d say if you need more color maybe check out MetLife, PGIM, colony capital, CBRE global, JP asset management, etc.... Lastly, in a challenging job market, there is a lot worse.
Very excellent place to be overall on the acquisitions front. West coast (newport, SF) comp for 1st year analyst is 100k base with 30% target bonus
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