EY real estate team - please share any and all thoughts!
[deleted]
[{"id": "iwzpdoz", "text": "EY+work life balance \ud83d\ude02", "replies": [{"id": "iwzr94t", "text": "Yeah I don\u2019t know much about EYs RE division, but if you\u2019re working for a big 4 in any analyst type role I\u2019d expect minimal work life balance.", "replies": [{"id": "ix2f4ml", "text": "How come? What hours are you looking at", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iwzwfz4", "text": "And dick for pay.", "replies": [], "depth": 1}, {"id": "ix06ask", "text": "Shit pay, shit work life balance, great exposure to large deals, good networking opportunities, not sure about growth/learning but I\u2019m sure it\u2019s there, zero access to deals to personally participate in.", "replies": [], "depth": 1}, {"id": "ix0jysy", "text": "NYC? Toxic", "replies": [], "depth": 1}, {"id": "ix0o17m", "text": "The big 4 real estate divisions are valuation which is mainly centered around assisting audit teams. Work life balance is non existent. The perks are there and networking/resume builder is great but in terms of actually learning about RE, you won\u2019t lol", "replies": [{"id": "ix8v2fi", "text": "I disagree. My Big 4 RE experience catapulted me to my next job. I blew my new employer away with my knowledge, skills and discipline. A few short years later and I have the pay and work-life balance I hoped for. I learned advanced modeling and the fundamentals of valuation for multiple asset types and client profiles. Above all I learned to work, which is a discipline too many people are missing these days.\n\nYes, the busy season was brutal. I had two of them and knew I was done. But that experience was invaluable.", "replies": [{"id": "ix8yxex", "text": "That\u2019s great! I too think my experience in big 4 RE was valuable, but it was high level knowledge. I agree with others it\u2019s a great stepping stone. The work ethic it instills is a positive when you move to another job. I just think there are also other paths to coveted CRE jobs that could be even better than what I had experienced at big 4.", "replies": [{"id": "ixbfrvm", "text": "Please share", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ix1gsdd", "text": "This job, like your job as an analyst in a brokerage, is a stepping stone. I\u2019d hope this next stepping stone has more pay and benefits but I doubt you\u2019ll find this to be your dream job. Another poster had this correct, you are support for EYs main business line which is the accounting folks (audit). My philosophy in the CRE business as a young professional is to be as close to the actual transaction as possible and in this role you are not close at all. You\u2019ll be essentially doing 3rd party valuation work for companies that have real estate on their balance sheet. It\u2019s a glorified appraisal job. \n\nHopefully your next job is the one that lets you break through into something more fulfilling if that\u2019s truly what you seek. A mentor once said to me \u201ci made $10k at my first job, $15k per year at my second and $200k per year at my third but i wouldn\u2019t even be in the running for the third if i didn\u2019t spend the time and put in the work at the first 2\u201d. (Referring to work in the 1980s). \n\nAs far as room for growth, this will get you good \u201ctextbook\u201d or \u201cacademic\u201d experience like modeling and valuation but you won\u2019t gain anything practical like sales, negotiating, acquisitions, asset/property management etc. \n\nLastly, i don\u2019t know if this is true but i think you can\u2019t make partner at a big 4 unless you have a CPA. This rule alone should tell you where you stand amongst your \u201cAudit\u201d peers.", "replies": [], "depth": 1}, {"id": "ix2akks", "text": "The real estate team at EY has a great culture (varied by office and team) - but it\u2019s better than most in Big 4s. The valuation work centers around PPA deals, larger fund valuation, and \u201cchannel 1\u201d reviews which are the audit-assist work engamgnets. The group's revenues are roughly split 35% audit work, 65% consulting valuation work.\n\nThe valuation work at Big 4s brings a wide range of asset classes, deal situations, and nuances. It's a high-volume position and gives you great exposure to real estate valuation models, fund valuation, and deal structures. \n\nCh1 work consists of researching market assumptions and testing/validating assumptions used in third-party valuations firms or management-prepared valuations used for reporting purposes. The ch1 work can get redundant, but it's also a great learning exercise, understanding the nuances of valuation and stress testing current assumptions developed by various \u2018industry leaders.\u2019 There\u2019s a busy season where the audit work is concentrated from January through the end of March and has a more natural dip in the summer, which is nice.", "replies": [], "depth": 1}]