Can't decide between Asset Management, Acquisitions, or Brokerage?
Hi All, 

Can anyone chime in the responsibilities and overall work/life balance between the three fields? I am pursuing a career in corporate real estate/commercial real estate and I'm starting to pick a narrow path. Those who are familiar with the three, what are the pros/cons with Asset Management, Acquisitions, or Brokerage?
[{"id": "fha7xe7", "text": "With ANY career path there is no work life balance. There are work life choices,and those choices have consequences. \n\nNo matter which path you decide on, what you get out of it is what you put into it.\n\nI realize this isn't exactly what you were looking for in an answer, but I believe it to be pertinent. All three could be an incredible step or a pointless waste depending on the time you put into it.", "replies": [{"id": "fhaqcy0", "text": "Disagree. Work life balance is clear among these 3:\n\nAM - typically more stable work, less hours\n\nAcquisitions - roller coaster of work. Some days you will be twiddling your thumbs, some days a deal will come through at 5pm with a short fuse and you will be working on a memo for IC approval until midnight.\n\nBrokerage - huge grind, long hours working on deals or developing relationships. Once you get to the top, you\u2019ll be making millions and golfing most days (but that takes decades and a shit ton of luck)", "replies": [{"id": "fhau96o", "text": "Agree with this 100%\n\nWould also add that in a downturn the acquisitions guys get fired, the brokers don't get bonuses, and assert management does really well. In good times, the acq guys and the brokers are rolling in money, asset management not so much.\n\nThey're different skill sets though. Don't like selling people bullshit stories? Brokerage is not for you. Don't like high pressure, high stress environments where your control over your actual job is minimal? Avoid acquisitions. Don't like fixing other people's mistakes and diving into Financials? Bad at math? Definitely avoid asset management.", "replies": [{"id": "fhauqkl", "text": "Accurate", "replies": [], "depth": 4}, {"id": "fhb4xzw", "text": "Agreed mostly, except to be a good broker you don't have to be full of shit. Many are, but it isn't a prerequisite. In fact the less full of shit you are the better relationships you can create and it's a relationship game.", "replies": [{"id": "fhb530n", "text": "Doesn't mean they don't fluff their underwriting with absurd assumptions or try and sell you on an investment thesis that doesn't really make sense, lol. It's their job to get top dollar for their clients, not to sell reality", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "fhb7etv", "text": "Not to mention you'll essentially be working for free in your first year in brokerage.", "replies": [], "depth": 3}, {"id": "fhb8lxz", "text": "Yes. This. 100%.\n\nIn my experience AM will make you a better principal if you're interested in starting your own fund/ syndicating your own deals though. At my company, AM is the hub and all other roles are the spokes. We see/ gain experience in every aspect of the field.", "replies": [{"id": "fhgepj5", "text": "I have a passion for starting my own fund/syndicating private equity. Would you then recommend asset management as the most well-rounded? I\u2019m currently a broker in multi family (2-6 units) but I want to transition into development. If pursuing asset management, what\u2019s the best way to get my foot in the door? Thanks for you insight!", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fhakwdv", "text": "Depends on what you want, so you want lots of money? Are you looking to have a more peaceful lifestyle ? Also the region of the country would help a lot. A lot of real estate jobs tend to have odd hours to close deals. Anyways need a bit more detail from you", "replies": [], "depth": 1}, {"id": "fhaq88g", "text": "The pros are you can earn a lot when you know the business in detail. When you have little knowledge of asset management then it will lead you to a total loss.", "replies": [], "depth": 1}, {"id": "fhavbai", "text": "In general, starting a career with a higher comp = worse work life balance.\n\nOther commenters have all given good advice but this is basically what it boils down too.", "replies": [], "depth": 1}, {"id": "fhb4fxy", "text": "Also interested in learning more!", "replies": [], "depth": 1}, {"id": "fhbb2l9", "text": "Brokerage and Acquisitions will have you working more and with an unknown consistency. Asset Management is a bit more stable but can vary firm to firm. None are good compared to a typical 9-5 job but you do get compensated for your time.", "replies": [], "depth": 1}, {"id": "fhbmyu1", "text": "Don\u2019t work in brokerage unless you have enough money saved up to live off for a year or possibly two and are with an experienced team that is executing and can mentor you. Asset management is known to have among the best work life balances in finance. Brokerage on the other hand is a hardcore grind, *especially* when starting out, and more than a full time job. You\u2019re gonna have no clue what you\u2019re doing your first year (that\u2019s how it is for everyone starting out), and you\u2019re not gonna make any money. But when you do start making money there is no limit. I would personally go with acquisitions or asset management, whichever you like more, assuming same general compensation. Unless of course you have the work ethic and are willing to make the sacrifice for brokerage and have the finances to back you up.", "replies": [{"id": "fhc9zzm", "text": "Could start as an analyst with a brokerage. Make solid money, see tons of deals and hopefully build a solid network", "replies": [], "depth": 2}], "depth": 1}]