I'm sure most of you here have a passion for real estate, and that's why you work in the field or are trying to get into the business. But I have a controversial question... Skip to the last paragraph if you don't want to read my rambling examples in the middle.
For the Brokers, do you ever wish you were taking 2-5% fees on massive acquisitions like Amazon's purchase of Whole Foods, Microsoft's acquisition of LinkedIn etc? What if you were the advisor to Vornado in their acquisition and subsequent spin-off of JBG? Is that not more complex / interesting to you than brokering the sale of the $20mil apartment complex down the road? The two jobs are similar, yet the fees are higher and the work appears to be more interesting on the IB side.
For the RE lenders, do you ever wish you took more finance classes in college and ended up financing M&A between major corporations, LBOs for jumbo private equity funds (sometimes 10x the size of a major REPE Fund), distressed loan acquisitions etc? This would net you more fees as a senior person, and a higher junior level / mid level salary. Simultaneously, you'd get to learn about tons of industries instead of focusing on real estate.
For the private equity / owner /operator guys, how many different ways are there to execute a turnaround plan and re-lease an office building? What about an apartment complex? The turnaround strategies are likely the same from property to property, city to city, cycle to cycle. Re-do the kitchen and bathroom in the apartment complex, Remodel the lobby in the office building and hire the best agency leasing guy, bring on a new operator for your hotel etc. Think of all the operational and strategy nuances to 3G Capital's acquisition (read about some of them here https://www.fool.com/investing/2017/12/09/is-the-3...), does this not sound more interesting to you?
What about when you get tired of the hustle / stress of doing the above? You can exit to a corporation in the area that you covered, make good money, and still have time for your family. In real estate is there an option like that?
I guess my question is this: Your job in real estate likely has a counterpart in private equity. That guy likely makes more money than you and has learned a great deal about business along the way. If you could start over and land a good job in an area of IB / PE / LevFin or whatever are of corp fin interests you the most, would you do it? Why not? Some of you will look through my post history and claim this is a troll account. And you'd be right. But this isn't a troll question. I'm genuinely a 1st year analyst at a cross-roads in deciding whether to stick with real estate or pursue IB, so I'm hoping you all convince me that I'm being a prestige-whore or whatever