Investment Sales Careers
Does anyone know of any brokerages that offer some sort of salary to entry level investment sales/capital markets brokerage roles.
I believe Newmark does as well as Ariel Property Advisors.
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For the most part, this is all going to be done by hiring analysts and then promoting directly, or by joining a leasing team then transitioning to CM.
From what I know, most large companies (like NKF or CBRE) will offer a draw. Not exactly a salary, but probably the closest thing to it for brokerage. Or you can work as a research analyst on a team and earn a reasonable salary (I think most are around $50k) and then transition to being a broker. Just know that brokerage is really commission based and the goal is always to get off of a salary/ draw/ stipend.
Who else offers a draw? I know M&M does not.
Who else offers a draw?
CBRE offers a draw. It's around 30-35k a year if I remember correctly. Colliers offers a draw that is 30k. I know for a fact that those two companies offer draws to new brokers. I am pretty sure that JLL, and Cushman also offer draws, but this is just a guess since I don't know anyone offer there.
Does anyone know of any brokerages that offer some sort of salary to entry level investment sales/capital markets brokerage roles?
Unless you have prior experience being a broker 99.99% of the time you are not going to start out as a broker. You will start out in research (salary starts around 40-45k), marketing (40-45k), leasing (leasing coordinator, lease analyst. Not totally sure on the salary), capital markets analyst or as a financial analyst (I've heard salary's all the way from 50-70k) working for a specific team i.e. Industrial investment sales.
CBRE used to have a position called 'sales analyst' that was recently done away with. These guys worked on a team and assisted the broker with everything. From what I understand it was mostly like a broker in training. I am unsure if this was salary or commission based. Although if CBRE had it you can bet JLL,Cushman, and HFF most likely have something similar.
TLDR: If you start with one of the bigger brokerages in a decent sized market there is no way you won't earn a salary, or a draw your first year. Brokers that I know that have come over to the bigger shops such as CBRE,HFF,Cushman were on a draw for there first two years even though they had previous experience.
HFF and Eastdil each offer a Salary and Bonus for entry-level roles.
Not to be a dick but some of this information is flat out wrong. CBRE and Colliers do not offer draws as the norm. It's office/team specific.
The sales analyst position is still at CBRE. Literally had a younger family friend interview for one of those openings last week and was used as a reference/was called to give reference.
There is no way an established broker lateraling shops is going to go on a draw..... That would mean their production sucked and they can't float the boat for 6-12 months.
Moneywrench,
More than willing to have a discussion about it...here’s why I said what I said:
When networking with people from colliers a few months ago in the winter, I was told that they start their guys out on a draw. Keep in mind though that this was in bentonville Arkansas, a super small market. There’s no such thing as analyst in this market. Everyone starts out as a broker. Here’s a phone, and a computer. You get a tiny draw and you sink or swim. Now whether or not they do that in nyc, Chicago, la I’m unsure. My thought process is that if they would do it in a town with 40k people they would do it in a bigger market (which is where I work now, in a bigger market).
Cbre did do away with the sales assistant position. I received the email about it being cancelled last week ironically. I would be more than willing to show you or anyone on the forum so it doesn’t seem like I’m full of crap. What’s weird is that the position is still posted online, but if you scroll down it has a message that reads “ we are currently trying to build our pipeline for this position”.
The broker that I’m the most close with started off on a draw. He worked at the shop on a team during his mba, and then for his first two years post grad was on a draw. An established broker is no way wanting to start off on a draw. Most brokers by the second year are itching to get off of the draw as it is costing them more money than its worth.
Not trying to come off as dick in this response at all. If anything I want to make sure the information I post is correct as this forum was an invaluable resource for me when I was job searching and trying to navigate through everything. The things I experienced also may be market specific as well. Any other questions, or things you might add feel free. Don’t want anyone to think I’m putting out bad information.
Just went back and looked at the email, you are correct. It was the sales ASSISTANT not analyst that was cancelled.
If you are trying to elbow your way into brokerage, you need to focus on targeting individual brokers as the employer and not the general company. In my experience working for a big 3 brokerage for several years, 80%+ of new additions to brokerage teams were personal connections of the lead broker, who would effectively guarantee or sponsor the draw provided by the firm through the team's commission winnings.
I would recommend doing a couple things: i) aggressively target the lead broker(s) on the team you want--you can be more aggressive than a traditional job, brokers want to see that attitude; ii) try to get a meeting with the MD of the brokerage office and express your interest in the firm and that team; this person is generally not a broker in the sense they are slinging deals, but are there to run the corporate office and make sure the rainmakers are happy.
Checkout CBRE's Capital Markets Associate Program. They offer a salary for entry-level brokers, but like the answer above, you still need to be accepted by a team to also be accepted into the program.
So target lead brokers to get accepted on a team, then ask to be recommended for the program.
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