Is being an analyst for a lender good experience for a brokerage role further down the line?
Pretty much as title says, graduating soon and have been offered a place with a relatively small lender in an analyst role just wondering how that looks considering I would like to get into brokerage? I have been rejected for the brokerage roles so far and wondered what you guys think?
[{"id": "idz7z0e", "text": "Yes. You\u2019ll most likely work under a broker/underwriter as a loan analyst. That experience is invaluable down the road when you\u2019re ready to make the transition.", "replies": [{"id": "idzdo30", "text": "What are exit ops? I\u2019m in an analyst role for a lender", "replies": [{"id": "idzyaou", "text": "I used to be an analyst for a lender, I moved to the equity side a few months ago. It\u2019s a massive learning curve, but certainly doable once you have some deal experience.", "replies": [{"id": "ie0eiy2", "text": "Does equity side have a worse WLB? I\u2019m working like 40-45 a week right now and not trying to work more than that unless my TC is like $140k-$150k", "replies": [{"id": "ie0jsks", "text": "Definitely more hours than the debt side (I worked 35-40 hours at my previous job). At my current role I don\u2019t work more than 50-55 hours a week unless we have multiple closings/IC submissions within a 2-3 day window (rising interest makes are making this happen less often). The only reason I left my previous role was because the pay was well below market. I would say though, brokerage certainly has the worst hours, I have buddies who work well over 65-70 hours a week at times, but that being said, once you run your own team the pay can be astronomical.\n\nIn regards to debt vs equity, I\u2019m not very career oriented and would have stayed at my previous role had the pay been slightly better, even if it was less then my current comp. Unfortunately my old company didn\u2019t offer a competing package to retain me when I put in my notice.", "replies": [{"id": "ie0lbpl", "text": "Interesting anecdote. What was your old comp that made you want to move and what do you make now?", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "idz8p9i", "text": "I started in a similar role.  I can now go through loan docs very quickly and know how that business works.\n\nI don\u2019t really enjoy the loan side of real estate, but it\u2019s very good experience.  Most people don\u2019t like it much either, so it\u2019s a good way to set yourself apart.\n\nMultifamily asset manager now.", "replies": [], "depth": 1}, {"id": "idzp0o7", "text": "It depends how deep you go as an analyst vs full underwriter position.\n\nI've worked with crappy analysts that lose a lot of credibility pushing high values, excluding tons of ongoing expenses in their pro-forma and neglecting to do a tax reassessment analysis.\nThis means the loans get retraded and the borrower is pissed they didn't get a loan that was quoted.", "replies": [], "depth": 1}, {"id": "idzvff0", "text": "Speaking from personal experience, make sure the analyst position actually involves the analysis you are looking for. My first analyst position with a brokerage was a \u201cmarket analyst\u201d and it was not what I thought it would be. I spent most of my time researching the market through business journals, costar news, and finding recent sales and leases. I put together a lease abstract once, and it took 10 minutes. Needless to say I wanted more of a challenging work environment. I\u2019m not trying to sound ungrateful but I was seeking something more in depth. Also for $25k a year, I should\u2019ve known the scope of work wasn\u2019t as high a level I had hoped. Know your worth and do your research.\n\nMy exit, if you\u2019ll call it though is commercial appraisal (valuation). It\u2019s not my end game though. I plan to move into asset management or development.", "replies": [], "depth": 1}, {"id": "ie5gjsd", "text": "What about the opposite? Can anyone provide any insight from going from Investment Sale brokerage to Acquisitions? I want to get into Acquisitions but there a few roles. So maybe I work for brokerage for now.", "replies": [], "depth": 1}, {"id": "iejv0tn", "text": "I\u2019d focus on being a good analyst first. Can\u2019t think of a worse pitch than saying \u201c I have no idea how to underwrite and value deals but have me sell your asset\u201d", "replies": [{"id": "ieszdpm", "text": "I would actually say my modelling skills are pretty good through my uni course which was valuation and finance focused. I did try to portray this in my interviews but perhaps there was a better candidate or I didn't have the experience I'm not sure.", "replies": [], "depth": 2}], "depth": 1}, {"id": "if1b6v8", "text": "What types of loans do they put out? What do you want to do after? If senior secured is their bread and butter, I\u2019d personally stay clear, unless you want to stay in credit.\n\nIf they take subordinate debt and construction loan positions - this is where things things start to get interesting. Exposure to these types of deals is invaluable for both equity and credit investing.\n\nSource: previous analyst at a real estate merchant bank", "replies": [], "depth": 1}]