How does RE investment banking at Eastdil as an analyst compare to RE investment banking at large BB’s? Is eastdil regarded as less competitive/less prestigious name?
Looking to apply as an analyst out of college - large BB’s as in Goldman’s RE IB group etc
[{"id": "i1r10w1", "text": "What firms are you including in large BB\u2019s? I\u2019d think those are investment roles, not investment banking. Eastdil is a solid firm. Right up there with JLL, CBRE, etc", "replies": [], "depth": 1}, {"id": "i1r7zpg", "text": "Eastdil is solid, if you want to be in this business they are tops. Investment banking is different but likely to pay more.", "replies": [], "depth": 1}, {"id": "i1r8q32", "text": "What do you ultimately want to do in real estate? Eastdil IB vs Goldman IB are completely different. Eastdil run some of the biggest deals from a brokerage perspective, and that\u2019s a fantastic opportunity, but from an IB perspective I don\u2019t think they are even close to the BB. Goldman or another BB group is going to either 1) be doing M&amp;A for REITs or large funds or 2) doing CMBS deals if you\u2019re on the financing group.", "replies": [{"id": "i1sdj9a", "text": "I am hoping to jump into real estate private equity after", "replies": [], "depth": 2}], "depth": 1}, {"id": "i1rfq3u", "text": "Eastdil is very prestigious in the re investment world.", "replies": [], "depth": 1}, {"id": "i1tnz2p", "text": "Understand that investment banking at Eastdil is a term used quite loosely. They do all sorts of things. Equity sales, refinancing, development financing, etc. They don't do bond issuance (CMBS) nor IPOs. They're not structured like that (i.e. they don't have an ECM or DCM desk to sell their stuff). They'll do M&amp;A. but not publicly listed M&amp;A. They've been part of some of the largest RE transactions in the last 10 years where CBRE/JLL aren't able to position themselves. They're very well regarded within the real estate world. Outside of the RE world, no one has any idea of who they are.\n\nWhat is for sure:\n\n1. You'll work on high profile deals, usually above USD 250 million tickets.\n2. Client are the top PEs, REITs, REIMs, Pensions, etc - and access to the top dogs at these firms.\n3. Exit ops are really good if you KNOW you want to stay in RE. You'll have a better edge than some of the REIB kids in terms of underwriting/understanding the real estate. You'll be at a disadvantage if you want to do some corporate finance stuff. But real estate is not about corporate finance unless you want to work for a REIT.\n4. You'll work IB hours, sometimes worse hours that MS / GS depending on your geography\n5. You'll learn a shit load, very steep learning curve\n6. You'll make good money (similar to IB within some margin of error)\n\nIf you want to apply, here are my tips: \n\n* Learn how to use Excel\n* Learn how to model / underwrite - lots of good content out there\n* Get you message straight about why real estate and why Eastil. No one wants to hear that you want to work in REPE\n* Read up on what's going on in the world and how that affect real estate\n* Cultural / personality fit is a big thing - be aware of that\n* Previous internships? Talk about those\n\nFeel free to DM me.", "replies": [], "depth": 1}]