Im an analyst at a large CRE investment firm I recently received a job offer from a smaller brokerage firm.
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[{"id": "gqinuv4", "text": "My path was medium private equity firm -&gt; large international PERE firms -&gt; consulting/personal stuff. \n\n1) I would say that the grind was real when I was an analyst. I liked the prestige of PERE and if you work hard, get lucky, and opportunistically switch firms (like making a  big international move)...you can make it to the VP/ Managing Director world in your 30\u2019s / 40\u2019s\n\n2) one thing I heard a lot was that, when it comes to CRE - brokers do the least amount of work and get paid the most (architects do the most and get paid the least). I was \u201csuggested\u201d that career by a few mentors when I was young. It certainly is enticing and some of those guys make bank. \n\nIf you like security and slow growth. Stay. If you want to risk it and it fits your personality...chase that paper. \n\nTypical caveats - just my (internet) opinion and experience. My info may be a bit stale. \n\nSounds like you got a \u201cgood\u201d problem to have though. All the best!", "replies": [{"id": "gqiqkcq", "text": "Thank you! Im young and a hard worker, It sounds like staying equity will yield a more fulfilling path. Appreciate the advice", "replies": [], "depth": 2}], "depth": 1}, {"id": "gqinwqt", "text": "All depends on what you want to do with your life. I\u2019ve always been on the investments side, can\u2019t see myself going to the customer service side, and ultimately if you\u2019re really good at investments you\u2019ll make a lot more money than brokerage, all things being equal. It\u2019s also really tough to get back to investments after hoping over to brokerage.", "replies": [{"id": "gqiqe37", "text": "Great advice- thanks!", "replies": [{"id": "gqitp30", "text": "More on this, I\u2019m very glad I left brokerage after 5 years to get on the investment side. Brokerage is sales and I was tired of being a salesman... chasing down clients, getting burned, etc... my end goal is to own CRE myself, so who better to learn from than people that own it.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gqiodgh", "text": "Brokerage is all commission/deal flow based, so if they have a strong deal flow, there is potential for significant upside. That said, if the deal flow is slow and their reputation isn\u2019t strong, there is downside risk. If you perform well at a small brokerage shop, it may be easier to lead your owns deals sooner. CRE investment firms are more stable and more predictable salary. It comes down to: are you more into sales or more into underwriting &amp; execution? Both are lucrative at the right shop. Generally, brokerage is feast &amp; famine. CRE investment has a longer term outlook.", "replies": [], "depth": 1}, {"id": "gqiqool", "text": "I agree, \u201csales\u201d is not what im into. Thanks for putting this into perspective", "replies": [], "depth": 1}, {"id": "gqitrbp", "text": "What firm is it and where? IM me If that\u2019s more comfortable. I\u2019ll tell you the unvarnished truth", "replies": [], "depth": 1}, {"id": "gqiu3j0", "text": "Have you considered taking the offer you have to your current employer and have them make a counter offer to keep you?", "replies": [], "depth": 1}, {"id": "gqj1pzv", "text": "I just moved from a REIT to a \"small\" brokerage firm. (They do around 2mm to 3mm in commissions, we are 5 people in the office). Best decision I ever made. Not only my superior and coworkers are nicer now, the job is also a lot simpler. We do mostly sell side and it is very straight forward.  I do not have a charming personality and I hate humans (I can deal with my team, but don't ask me to meet random new people), so I am not a great fit for sales, lol. Also it allows me to have a great lifestyle. Just leave me in my cave with wifi and good music and will be happy.", "replies": [], "depth": 1}, {"id": "gqj2qmh", "text": "Gunna be a little selfish and hijack your post since I just started as a research analyst for securitized products and I have no idea what I\u2019m doing and would appreciate any advice for a total newbie. What do you do on a daily basis? What is it that you like about being an analyst? Do you even like being an analyst? \n\nMore importantly than my annoying noob questions though would be to spend a few minutes with your thoughts and really think about what you want from either your current job or the one you are considering. If it\u2019s just money you are chasing it\u2019s not going to get you farther than your next paycheck. Sometimes that\u2019s okay. We all need money to survive and live a comfortable life. But at the end of the day, spend sometime asking yourself, having a conversation with yourself about what you think the right decision is for YOU. None of us weirdos know anything about your and your mindset and your situation and your goals. Only you do. Don\u2019t be afraid to chose the path that YOU WANT.", "replies": [{"id": "gqjedu0", "text": "Well this was pretty inspiring! I stumbled upon this post (I\u2019m in a weirdly similar predicament at work right now) and I am being WAY too indecisive. And I have absolutely no clue what I want. \n\nUltimately, I really just want a job/career that gives me a good work-life balance and a bunch of money so I can buy all the plants in the world. \n\nIf anyone knows a job where i could make this dream become a reality, holla at me plz. Doubtful it\u2019s in the CRE world tbh lol", "replies": [{"id": "gqnbi9n", "text": "Haha are you me?? Honestly though I think we all have those moments (or full days, or even full years) where we always come back to the question of \u201cwhat the eff do I want to spend my time on this earth doing....\u201d ((because 8yr old me wasn\u2019t thinking \u201cCMBS trader/analyst sounds good.\u201d)) I\u2019ve struggled with this same thing for a while and I have rare moments of clarity where I think.. the one making making you indecisive about your job or your situation is you! \n\nWe all wish we could \u201cdo what we love so we never have to work a day in our life\u201d but that doesn\u2019t happen over night and we shouldn\u2019t expect it to. \n\nRecently I\u2019ve been going into this new role (that terrifies me because I have zero clue what I\u2019m doing and not being trained because it\u2019s research and we aren\u2019t in the office) with the mindset of \u201cwhat is this job doing for ME\u201d rather than \u201cwhat I am doing for this job.\u201d Because then I\u2019m putting myself first and not my employer/company/job. I\u2019m asking myself \u201cokay, how is this job helping ME grow. And what I am learning about myself while taking this role, devoting my time and energy to it, and how can I use this experience to better myself.\u201d Maybe thats floofy or whatever but my god it\u2019s better than the depressing alternative. \n\nAnd honestly, that job that is so meh for you is the reason you can afford to go buy new plant friends and surround yourself with things that bring you joy! I was always the person that ho-hummed about my \u201cugh finance\u201d job until COVID struck and I realized \u201choly shit I\u2019m essential\u201d and I didn\u2019t lose my job, I\u2019m not struggling to pay rent, or eat, or provide for a family etc. I can\u2019t imagine the millions of people that went through that, but I was so grateful that I wasn\u2019t one of them. And I used some of my \u201cugh finance\u201d salary to donate and help people that were. And that felt great. And again, I was grateful for my job. \n\nThis response turned out to be way longer than I thought it would be -hah- but I think we all need a little reminder that we actually are kicking ass just by getting up and moving every day. And it\u2019s okay to not have all the answers. That\u2019s why we get a whole life to figure it out. And make the best of what we have and the situation we are in. Best at the end of the day you are the only one that can change your story. And you will when you\u2019re ready. But it doesn\u2019t hurt to feel a little gratitude for what you DO HAVE. And to give yourself a litte credit for getting this far. \n\nJust like OP, try, just try, for five whole minutes to to sit with yourself (no phone, tv, music, distractions), and think about what YOU want. Ans how you can add more value to YOU, not to the company or you job.. which path is going to get you closer to the YOU that you want to be. That\u2019s the real question you should be asking yourself. \n\nOkay I\u2019m done haha. Have a wonderful evening my friend. You got this! Don\u2019t sweat it", "replies": [], "depth": 3}], "depth": 2}, {"id": "gqko7ww", "text": "I like analyst work thus far. Its a lot of underwriting deals and portfolio/asset level analytics which i find pretty cool. My advice would be to take projects slow and work through what you don\u2019t know. I was also \u201cthrown in the fire\u201d after college and learned by diving into what i didn\u2019t know (certain excel tricks, power query, general industry concepts).", "replies": [{"id": "gqncjn5", "text": "Awesome! This is helpful since I\u2019m feeling part thrown into the fire, part forgotten in a corner. But I appreciate the advice none the less. I also think if you actually like it and if even find parts of it to be cool then think about how you can use some of that excitement to get creative in the role. I know that finance is the polar opposite of creativity at first glance, but there\u2019s always a way for you to turn this into an opportunity for you to be creative and have fun with it. Which place are you going to get to do that and will that bring you joy? I\u2019ll also add that it feels great to feel confident in a role. Use some of that knowledge that you\u2019ve accumulated and share it, build off of it, brainstorm with it with other team members or departments. You never know what new opportunities might arise. Wishing you confidence and excitement on whichever path you chose to take.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gqj3sql", "text": "Stay in the money, aka the equity side, aka the buy side.\n\nClimbing the ladder is all about how well you're performing in comparison to your cohort.\n\nIf you're bringing value, you'll move quick.  The guys at the top don't give a sh\\*t about tenure.  It's about what you produce.\n\nIf you leave and ever wanted back in, you'd have to explain why you made a move like that and, honestly, there aren't a lot of good reasons.  I only got my broker's license because it's easy money when deals fall into my lap.  I'd never do it for a living.\n\nAlso just for context, I work for a developer.\n\nMy two cents..", "replies": [{"id": "gqj80z3", "text": "Do you think there is more money to be made on the buy side? I\u2019m also young in my career at a dev/investment shop, and see some of the brokers my age crushing", "replies": [], "depth": 2}], "depth": 1}, {"id": "gqj96lf", "text": "Am interested to hear if you reached out to this smaller brokerage firm about a potential job or if they reached out to you?", "replies": [{"id": "gqkne0m", "text": "I reached out to a PE investment firm who referred me to their start-up brokerage shop", "replies": [], "depth": 2}], "depth": 1}, {"id": "gqj9gck", "text": "They are offering you salary and bonus? Brokerage is normally all commission unless you are at a white glove firm that gets institutional assignments. Unless you can be really good and killing it, it\u2019s kind of miserable. 80/20 rule applies- 20% of the people do 80% of the business and others fight for the rest- usually with no benefits and black swan events every few years can make getting paid or doing deals very tough. Id ride out the side you are on and pursue another RE private equity firm, asset management role , or acquisitions role.", "replies": [], "depth": 1}, {"id": "gqjs12x", "text": "A handy way to think about different jobs in CRE is plotting a job on a graph with relationship/sales type roles on the left end of the X axis, quantitative on the right, risk tolerant at the top of the Y axis and risk adverse on the bottom. \n\nYour current role places you more in the bottom right quadrant. Currently, probably working more on the numbers, having deals come to you through your team, and make a steady income regardless of deal flow. \n\nBrokerage roles are way in the top left quadrant. You\u2019d be relying on your relationship building and sales skills, having to hunt for your food, and probably won\u2019t make any money for the first six months, if not longer. Although the upside potential for compensation is only limited by the amount of deals you do, there\u2019s a high probably you\u2019ll go through a lean period during the bottom of a cycle and you might not make any money.\n\nIt\u2019s really about recognizing your own skills and personality and seeing what fits.", "replies": [], "depth": 1}]