Hey all,
Wanted to make a post to both talk about what my current situation is and hopefully also offer some encouragement for those who are job hunting.
I started my career not knowing what I wanted to do and made the jump to CRE largely by accident. Started off in FP&A at a developer, went and did corporate real estate (managing leasing cycles, buildouts, etc) for an end-user (biglaw firm) and knew I wanted to get deeper into the investment end of the business but was failing miserably at my attempts to network into an asset management or acquisitions role.
So, I started the MSRE program at Schack. Convinced a small MM REPE firm to take a chance on me in an acquisitions role (making peanuts) and then got the chance to jump to a very well known (in nyc anyway) boutique debt/equity brokerage. Wanted the chance to learn how to work on large/complicated/highly structured transactions. Was hoping to get a promotion/ be offered the chance to stay beyond graduation or pivot into REPE acquisitions or hybrid acquisitions / asset management roles.
March happened and got laid off in April. No deal flow, cutting expenses, I'm the only analyst who isn't a third generation sponsor, etc,etc. Beat down the doors at other brokerages and while there is some hiring on the debt side, saw that the equity side (at least outside of the west coast) looked pretty dead. And then, out of nowhere, I got a pretty through the market offer to be in capital markets at a single-family home builder (think Lennar/Pulte sized).
Brings me to current scenario. I'm basically continuing to job hunt and looking to see if perhaps hiring on the equity side picks up a bit once 2021 budgets get approved as my goal isn't really to climb the ladder at a homebuilder. Any advice on the hunt and insight on the market would be appreciated. Also want to provide some hope to those unemployed that if you're willing to expand beyond the role that you're specifically targeting, there may be some opportunity out there.
Seems like you have good enough experience. How old are you?
I'm not gonnna name the shops but I know for a fact of 3 different NYC based REPE firms (GPs and LPs) that are actively looking to hire an analyst for "acquisitions / asset management." The truth is you're mainly gonna be doing asset management for the next few months (HINT: that's why they're hiring).
Best of luck.
@Lowzy @onmywayup Select Leaders recently uploaded a few of them..
Just turned 29. Yeah, I guess it was a bit of a misnomer to say 0 hiring, but I think its safe to say this is a relatively tough employment market (particularly on the equity side). At most of the firms I'm targeting, I'm able to get conversations going informally with Schack alumni or just random people I reach out to on LinkedIn, but I hear a lot of talk of hiring freezes (formal or informal) for at least the next few months.
Thanks!
PM the names?
see edit above
Also would love to know
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