Recently got promoted - RE investment

Wanted to pick everyone's brain on this forum.

Recently got promoted from a decent RE Investment firm in Toronto and was wondering whats my exit opportunity as I'm thinking a bit into the future. I got a senior manager title in investments with a comp of $150K all in. My firm works on both direct investments in Multi-family, partnership (as LP) structure in developments and US acquisition and private RE debt on first/mezz loan. I've touched across all facets but my main responsibility is on the acquisition side. What do you think my exit opportunity in a year or two can be? I've worked for another RE Investment firm that solely focuses on acquisition, whereas this firm I'm currently working for is more diverse and it may lead me to more opportunities down the road.


Comments (13)

Jan 3, 2021 - 1:07am

Sounds like you have a pretty good gig already so the real questions are why are you thinking of leaving already and what kind of exit do you have in mind?

Jan 3, 2021 - 1:38pm

It is a good gig - and i do feel the potential in my progression with this company. One thing that might turn me off is the comp, I want a bigger comp with carry/bonus close to 75-100%. Also, my thought is what are the odds for me to switch to other asset classes with real estate. I'm thinking of a more hypothetical exit opportunity.

Jan 3, 2021 - 9:31am

So, if you are at the stage of getting promoted, you really should only be making very strategic career moves at this point. Why would want to seek "exit opportunities"? Do you not like your firm or the industry?

Thus, unless there is something missing here. You should be focused on really driving value, getting legit wins, and thus getting promoted again and again. If a headhunter reaches out to you or some opportunity enters your view, then check it out. But, you should really only be moving for jobs that involve true promotion, significant raises, and/or some other major improvement. 

With your promotion, the days of jumping/moving like an analyst/associate should be over (this is a good thing), now its all about career management. 

Jan 3, 2021 - 1:46pm

The gig here is not bad, many opportunities. If one thing I do decide to move-on is to explore different asset classes within the real estate (i always wanted to be more diverse, I touched commercial, industrial etc but nothing to a pro-efficient level). Another thing is comp, I want to aim big to have a bigger comp/bonus/carry than what was given. I do feel with what I've learned in this company, I could be highly sought after in the market that's why i'm thinking in a more hypothetical sense. 

Jan 3, 2021 - 6:49pm

I would say your optimal strategy is be "recruited" away, an active strategy of trying to leave is not going to yield the best job at this stage (easier to get the bigger pay you seek). Laterals could be very suboptimal. To do this, mainly make sure your LinkedIn is very good condition because that's how the HH firms find people now. If or when you hit the 5 year mark in the industry, then it's okay to prospectively reach out and send a resume (you won't get direct responses, but you will get tagged in their systems). 

final note, not sure I would really jump property types, diversified skills are cheaper skills to be honest. That could lend itself to more "lateral" move, you want an upward move. 

Jan 4, 2021 - 10:34pm

You could probably break into IB/MBB at the analyst level, it's not to late you just would need to network hard. There's a prestige/seniority continuom at most of these places, ie, top banks will take a Senior Manager in RE as an Analyst in IBD. But again, networking is crucial. I think WSO has some good cold email format guides on here as well.

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