Any former Public Accountants that now work in CRE?
Currently in PA audit but have always been interested in RE. Doesn't matter your role just interested in hearing different career paths/opportunities.
[{"id": "gk2vad5", "text": "I\u2019ve seen it. But going to be brutally honest, as far as the investment side is concerned, many MDs are adverse to hiring accountants due to their lack of investment exposure and the way that people think that accountants see deals.", "replies": [{"id": "gk37mra", "text": "Not to discredit your experience as I'm relatively new in the industry, but the shop I'm at specifically seeks out CPAs in public practice.  Among other reasons (and not just for the letters), the analytics, attention to detail, understanding of financial statements, ability to work with clients, etc. are all a huge benefit.  If you want to be in CRE or buy/sell side banking or venture capital, whether you decide to go to b-school or not, I would say eat and drink the industry for breakfast.  Learn the lingo, understand the roles, read the journal voraciously, specialize in the nuance, dig in, ask questions, know your ratios, and knock on as many doors as you can.", "replies": [{"id": "gk40m3l", "text": "Damn, know anyone looking ATM in NYC?", "replies": [], "depth": 3}], "depth": 2}, {"id": "gk57zb5", "text": "What\u2019s the way that people think accountants see deals?", "replies": [{"id": "gk5ai2f", "text": "Prevailing sentiment is Completely above their heads and without any creativity.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gk2vn5i", "text": "I left public as an audit senior manager last summer to join commercial real estate development firm. It's a small company, but currently leading in house accounting for property management, accounting for corporate, investor accounting, asset management and deal analysis.", "replies": [{"id": "gk3z0e4", "text": "damn, that's a fucking awesome career transition. congrats", "replies": [{"id": "gk40s0l", "text": "I think I got lucky. I worked in hedge fund/private equity fund/ real estate fund space so I was familiar with a lot of it. We are small but growing fast and I\u2019ll have to give up some as we go.", "replies": [{"id": "gk4373o", "text": "Yea, but think of your growth trajectory and all the stuff you'll get exposure to. I work in tech but would love to spend more time on my RE portfolio and work directly with developers some day", "replies": [], "depth": 4}, {"id": "gk98n9o", "text": "What's a position like that pull down a year?", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "gk40j8v", "text": "That's basically my dream however I would rather not have to stay in public until SM.", "replies": [{"id": "gk40w4k", "text": "I agree. Was a bad idea.", "replies": [{"id": "gk41ffi", "text": "Haha, I wish I left after my first year as a senior. Already made the mistake of sticking it out for my 6th busy season. Def need to GTFO after.", "replies": [{"id": "gk4275q", "text": "I did 12 busy seasons. 12! What was I thinking?", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "gk2zjsp", "text": "Every business broker I know is a cpa or lawyer.  Maybe look at that.  \n\nThe problem I think you will run into transactionally you really dont have a lot to offer.  Most cre transactions have pretty simple accounting.  You of course have tax issues but they typically have little to do with the actual cre.  If you 1031 etc you hire someone to handle that etc.", "replies": [], "depth": 1}, {"id": "gk388cc", "text": "Went from PwC to Investment Mgmt to RE acquisitions &amp; development. NGL, big 4 and investment background was nice, but my foot in the door was networking and my CFA credentials.", "replies": [{"id": "gk4xdk1", "text": "What were you doing at PwC as a charterholder?\n\nAnother question, how applicable is the CFA now? I landed a sweet gig (got lucky) on the private equity buy side of RE, currently in the CFA exam processes", "replies": [{"id": "gk55pq1", "text": "I took the first 2 levels there then I got my IM job. The CFA is nice, but not the same as if I stayed in IM. It\u2019s not a must have imo.", "replies": [], "depth": 3}], "depth": 2}, {"id": "gk7q9rw", "text": "Don\u2019t see a lotta CFA\u2019s in traditional RE investment (outside of REITS), but it\u2019s highly respected in the space", "replies": [], "depth": 2}], "depth": 1}, {"id": "gk3nlac", "text": "I\u2019d say your best shot is with a REIT, they tend to love CPAs. Some private companies go for them as well but more typically on the asset management side.", "replies": [], "depth": 1}, {"id": "gk41tjg", "text": "Started out in tax at a big 4 firm. Inmediately realized I wanted to be on the deal side. Applied for anything remotely transactional, analyst programs, sell side, buy side, etc. and got minimal interest. It\u2019s incredibly hard to break out of the accounting box. Would strongly consider studying for the CFA or get an MBA, preferably from a top 10 school. \n\nI went the MBA route -&gt; got an associate fixed income trading seat at a bulge bracket bank. Did that for a decade and then moved to a buy side private equity/development seat. \n\nDon\u2019t give up if you want out of accounting but you need to be ready to do whatever it takes to get out. It\u2019s a steep hill with a stigma attached to it as a back office function.", "replies": [], "depth": 1}, {"id": "gk4cxml", "text": "I was in PA for 13 years and left as a tax manager.  I am now a controller for a real estate development and property management firm.", "replies": [], "depth": 1}]