I am currently working at a mid-to-top CRE lending company as an analyst in the servicing department. The department involves asset management and servicing so I do get some asset management tasks which are more marketable skills.
The company is okay with and has a strong record of individuals coming in as a servicing analyst before moving to underwriting, production, or investment sales. However I’d have to wait another year before I even get a shot at transferring to another department.
I am not very happy with my current position/salary and have been looking for other opportunities in investment sales/capital markets.
My question is, should I wait it out and try to move into production (as I see that there is a lot of upside potential), or try to move somewhere where I can learn more technical skills.
In other words, where would I have the most compensation upside and what do you think my possibilities are. I’m a recent graduate.
My suggestion (which is not the only path) is to get out of servicing ASAP. If you are open to the additional hours, variable wage (bonus is higher % of income) and the bit more stress that comes along with that for a higher earning potential you should move to production elsewhere.
If you're in an A+ institution on the servicing side its still worth moving to production (including credit) at a middle market lender in my opinion.
Because you mentioned investment sales: be warned that investment sales will be completely alien to you, it is a very very different job with different incentives and a fuck ton more stress than anything servicing could ever be.
Okay, so moving towards production would be the best bet in your opinion. I see that you mentioned IS is a different beast and can come with stresses. I am open to working harder, actually I really want to. Do you think that production or IS would pay out better? I have seen many people talk about it but never flat out say which is more likely to payout higher in the end. My biggest goal is to get out of servicing and go to something more analytical and that will pay better long term. I’m lost as to which route to go.
Brokerage doesn't come with stress, it is stress. Its not like "oh hey I'm working long hours in a fast paced environment stress" its "I'm being paid such a low base that it doesn't cover my living expenses and I need to make 200 cold calls a day while people are telling me to fuck off, its been 6 months without making a deal but I see something on the horizon so if i stick it out I can get a check and pay back some of this draw I took." but that horizon is always moving.
80% of the industry turns over in 3 years. There is literally not enough deals for everyone.
Xanax helps
100% agree. I started in servicing, moved to "production" side of the business as credit analyst. Year and a bit later moved to a developer.
Servicing is terribly dry and has little career progression other then people dying (from my experience)
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