Two offers: brand and stability vs opportunity and responsibility
I have a hard choice in front of me, I’m 27 (non-target) with four years of experience in REPE of which two are at a BB. First job offer is as an associate with a MS/GS/BoA type working in AM/Acq though mainly it will be AM. Second job would be as a Director of UW at a smaller firm (~4b AUM) which is growing fast and I’d consider a much more exciting job on the day to day. Second job is a lot of responsibility, first job might help firm up my resume for the long term with two BBs on my resume. But what do you guys think? Have I been listening too long about prestige from the IB schmucks on this site or is UW maybe not where you really want to be in CRE? Perspective is great, thanks.
This is broad advice but I almost always recommend taking on more responsibility if you are younger and the positions are close when it comes to pay, etc.
Given the breadth and different types of knowledge required real estate is best learned through doing so the faster you can get in a true decision making role where you are driving the transaction/project process then the faster you will learn. By handling these components on your own your knowledge will compound, giving you an earlier advantage and true experience to speak to versus your peers to firm you up as a candidate, not just a resume.
One last and probably most important point related to your situation is as you’ve already pointed out you find the Director of UW position more exciting - enjoyment and enthusiasm for your position are super important as you’ll be motivated to put in the extra effort in to create a virtuous cycle. Go with what motivates and interests you.
So given that you are 27 with 4 years experience, the reason to move is to get better/higher responsibilities and title (pay should be better as well). The associate offer sounds like a pure lateral, honestly, I'm not sure why that is even worth considering at this point in your career. Your actual experience, skills, results are what's going to propel you at this point, name brand of firm won't move the needle much at this stage (you even mention the "non-target" thing, nobody cares at this point, Ivy or unknown directional state school, you are where you are at this point).
Thus, the Director of UW sounds like a pretty good, next step, it's forward progress and you seem to really like the firm and the role. Frankly, I don't see any debate on this one.
Yeah, maybe I should explain context more. I won’t lie to you the move to the associate role would be as a ‘pure lateral’ as you say. Part of my problem is that I spent about two years at my current job getting beaten down pretty abusively/publicly despite being labeled a ‘top analyst,’ it’s left me pretty insecure and in need of a reset. My mental health has not been great, I now have carpal tunnel in one hand limiting my excel modeling speed as I have to take frequent and long breaks, in that respect I feel like the heightened risks of not being able to even physically keep up, the undeniably brutal hours the Director role will entail, and the responsibility of managing people older than me, and having to elbow deal-makers into place and reject 90% of the projects they bring me is not something I feel is going to lead me to a kinder work environment. If I contrast that with the BB offer, it’s a job I know I can do, more predictable hours, with better and personally vetted personalities around me, an offer to give me 2 months of mental health R&R (Director role starts immediately) and as another poster said the chance to still move up internally or externally later down the road. One of my professional mentors said to me that I should take the Director role if I’m ready to bet on myself and this company... it’s pathetic but I do not feel mentally in the zone, confident, or secure enough to consider failure of either because of these last two years and it just seems like a riskier gambit than taking the proven path of BB CRE experience.
Hmm, this is good extra context. First, just an observation, I totally feel you on this. Current gig sucks, and a divergent path is in front of you. I've sorta been in a somewhat similar spot (however, no dual job offers to consider, but if I wanted the lateral, would have been pretty easy to get or at least I thought so). Given that you mention mental health and even physical health, stuff I am really unqualified to advise on, I'll just sorta relay what I did and my thoughts on it long-term...
I took the equivalent of the Director job, it was a major step up in role, firm, and even had to relocate. Pay could have been better (had to move from low COL to high COL), but the prestige factor and "exit ops" made up for that in my mind. I was very "stable" in prior role, and really in life. Had bought a house and my wife and I had our first kid born less than a year earlier. But I had really reached the end of potential growth at that prior job, and when a HH emailed me, I just felt compelled to send me my resume.
Now with the benefit of hindsight, taking that opportunity was one of the biggest career accelerators of my life. It was a painful move/transition, but myself and and family survived. Did end up engineering an exit to an even better gig a few years later, way better pay and everything. Had I not taken that big step up, I shudder to think where I would be today. I don't think these opportunities are "once in a lifetime" and you can get promoted and play up as you stated, so I don't think this is an equal decision point.
But, I really do feel like big career successes require big moves, and that is risk taking. This director job is a risk, big jump, scary jump. My personal motto was "take the risk, or lose the chance". It felt scary as hell, and I really almost said no. But I am so glad I did, I think getting jobs ahead of your "age" is the real signal of upward potential, but it can be very taxing personally and mentally. No free lunches on this one.
So, what should you do? Can't tell you! I think this is a real "take the risk" or "play it safe" kind of decision, you laid it out like that with the extra context. I don't think your choice here will change your options later, but the situation may play out again. Only you can decide if this is the risk you need to take at this moment in time. But I promise if you really want to move up in this business, you will have to take risks like this at some point, the sooner you do it, the sooner the multiplier effect can kick in for the next move or promotion.
Sooo ._. I don’t have enough banana points to upvote. But thanks it really helps.
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