leaving before a year - bitch move?
For those of you who've left before the 1 year mark, has it impacted you in any other way besides ticking off the company you left and having to explain it in interviews? What are your thoughts on this - I'm in an analyst role where I spend more time updating and re-engineering excel formulas so that our 30+ tab model calculates correctly, and less time on analyzing the actual property at hand...but check this out.
The formulas below are saying: this particular cost needs to be spread a certain way based on the first letter of a "special" code in a corresponding column (makes sense)
Formula for the code:
=IF(ISBLANK(VLOOKUP($C389,'CostPage'!$A$12:$L$668,UPPER(3),FALSE)),"",IF(ISERROR(VLOOKUP($C389,'CostPage'!$A$12:$L$668,UPPER(3),FALSE)),"",(VLOOKUP($C389,'CostPage'!$A$12:$L$668,UPPER(3),FALSE))))
Formula for the cost:
=IF($F272="",0,IF(IF($K272="V",OR(S$10MAX($S$10:$BB$10)),OR(S$10$M272)),0,IF($K272="C",HLOOKUP(S$11,'Cost Sheet'!$G$11:$DZ$405,VLOOKUP($C272,'Cost Sheet'!$EA$13:$EB$405,2,FALSE),FALSE),IF($K272="B",IF(ISODD($N272),IF(S$10days using Excel as a tool rather than a job?
How close are you to a year? I started interviewing after 4 months, but I didn't get offers until 6 months. And I'll note, that the offers got progressively better as time went on. I interviewed at the place I'm at now the day after my one year anniversary. I would say don't leave before the year - year and a half range if you can stand it that long (I barely made it to a year)
I think accepting a job you don't like and not doing anything about it is more of a bitch move. I wouldn't make a habit of bouncing from job to job, but doing it once isn't going to kill you.
While interviewing: "You just started. Why do you want to leave?" "This job no longer aligns with my career goals. It's a great experience, but I'm looking for a higher level of impact and responsibility."
In the future: "Why did you leave this job after only 6 months?" "I found a much better opportunity that better aligned with my career goals."
In our industry, every job has an element of this kind of stuff, it is just that the more senior you are, the less you do of it.
I'm a third year associate (just got promoted to Senior, which is right below Director at my firm). I spent the last two weeks updating portfolio projections which includes formulas like that.
Right now, you are still low man on the totem pole. It sucks, but if you keep jumping around, you will always be low man (unless your jump includes a promotion to associate, but that will be harder with less than 1 year at your current place). I'm not saying you should never leave, but if it is a good company that you think you could have a somewhat long term future with, then give it some serious thought.
I moved through 3 other places before I landed at my current company. I've now been here almost 5 years. It isn't that I haven't interviewed outside (part of that is I believe you should know your worth on the open market, part of it was I wanted to move from debt to equity), but the long term prospects/goals are more important.
I'm a third year associate (just got promoted to Senior, which is right below Director at my firm). I spent the last two weeks updating portfolio projections which includes formulas like that.
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Really? I thought I was pretty decent at excel and I've never had to use a formula half that long.
I do a lot of shit like this:
Index/match formula to return the 3rd value in a table (basically a super v lookup)
=IF(INDEX('>10000 sf'!$A:$E,SMALL(IF('>10000 sf'!$A:$B='Debt Summary'!$M$3,ROW('>10000 sf'!$A:$B)-ROW('>10000 sf'!$A$1)+1,ROW('>10000 sf'!$E$9761)+1),3),3)=0,"",INDEX('>10000 sf'!$A:$E,SMALL(IF('>10000 sf'!$A:$B='Debt Summary'!$M$3,ROW('>10000 sf'!$A:$B)-ROW('>10000 sf'!$A$1)+1,ROW('>10000 sf'!$E$9761)+1),3),3))
Multi conditional sumifs
=IF(SUMIFS(PropertyStatistics!$M$1:$M$4194,PropertyStatistics!$A$1:$A$4194,$AK398,PropertyStatistics!$D$1:$D$4194,BU$7,PropertyStatistics!$E$1:$E$4194,"Y")> 0,SUMIFS(PropertyStatistics!$M$1:$M$4194,PropertyStatistics!$A$1:$A$4194,$AK398,PropertyStatistics!$D$1:$D$4194,BU$7,PropertyStatistics!$E$1:$E$4194,"Y"),SUMIFS(PropertyStatistics!$M$1:$M$4194,PropertyStatistics!$A$1:$A$4194,$AK398,PropertyStatistics!$D$1:$D$4194,BU$7,PropertyStatistics!$E$1:$E$4194,"N"))*100
I'll be working for a large bank in their RE Banking group. What are your opinions about a role like this? I wanted to start in the REPE role but really liked the company culture and what not, but will look in the future towards jumping from debt to equity or development.
What do you mean by "RE Banking?" Are you talking about debt origination/Asset Management? I know a lot of RE people look down on debt, because as a lender you are "removed from the asset," but lending is a good job.
It is true that you are removed from the day-to-day operations, but pretty much all loan documents have control/consent rights on major items. What those major items consist of is dependent on the asset/borrower, but they could be anything from lease consent rights for any lease of 1 floor or above (consent for new leasing, any amendment/termination to an existing lease) to consent to a transfer/sale (e.g. A borrower could really want to lease a floor of a building to a specific tenant and even though everything is already negotiated and ready to be signed, you as lender could still stop it - same thing with a sale/transfer).
I feel like debt made me stronger for when I moved to equity, because while equity is generally focused on the upside, debt is focused on the downsides. So beyond understanding structuring really well, I know how to avoid things in my deals that a lender is going to be worried about/know what to expect before I pull the trigger on a bid for something. While it might not change the final transaction price, knowing how lenders are going to react/treat stuff before you buy does color your opinion of value.
I am in a similar position as the OP. I am in a financial analyst position at a REIT (4 months) but was just contacted by a recruiter for a Sr. Associate job at a private developer. Am i crazy for not jumping ship??
I'm going through this process now - moving from a jr broker position at one of the big IS shops (been here 11 months now and was ready to jump through a window at 5 months) to REIT acquisitions (hopefully - will know soon). When asked to summarize my resume or tell about myself, I spin my "story" to make their place the end game. Like, "I wanted to get some brokerage experience under my belt to make me a better acquisitions analyst." They seemed to really like this. Also, start interviewing after 6 months and then you might end up hired at the 1 year mark.
I think your career progression will depend somewhat on where you are. If you're in a valuation arm of a CRE shop then you probably don't have a lot to look forward to beyond number crunching. But if you're in a REIT or PE, I thought analysts are a part of a deals beyond the Excel spreadsheets.
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