Career move to debt loan broker or stay in engineering/tech?
I have a degree in electrical engineering. Graduated a couple years ago. I never really found a position I liked, but I always had an interest in investing and finance. I honestly studied engineering bc I got caught up in the STEM hype. I have the chance to join a CRE firm as a debt broker/loan originator. It’s basically cold calling 100+ ppl daily and goin after leads. They also teach some underwriting. What are your thoughts? My other option is to leverage my degree and attend a 4 month software engineering boot camp.
[{"id": "hxbj5no", "text": "Why in the hell would you go from a skill based career with guaranteed employment prospects for decades to come and what would guess is a very solid salary to something based entirely on the whims of the market and other people?", "replies": [{"id": "hxbq4pp", "text": "Much higher earning potential in sales. I prefer interaction with ppl much more than interaction with computers", "replies": [{"id": "hxbqouy", "text": "Talk to someone in the business in 08-10 about the earning potential. Loan brokers are one of the biggest layoff sectors when the market shits itself. I'd also say it is an industry that is one interrupter away from being almost completely phased out.", "replies": [], "depth": 3}, {"id": "hxbsdop", "text": "I get that completely (dropped out of CSE and went into finance and work in CRE sales).  I did not want to spend my life in an office typing away all day.\n\nThat said this is a really bad idea.  I'd look for something EE related to sales.  If you want it to be RE intertwined look for sales jobs at industrial electrical contractors etc.  If you can move to project management/sales you can get some of what you are looking for without all the risk and the income hit.  \n\nAlso why debt brokerage?  good lord out of all the things RE related thats the one where you are just going to be an office drone.  At least actual brokerage you get out to see properties, meet with people etc.", "replies": [{"id": "hxbttyi", "text": "Debt brokerage bc I know ppl in the business and I have an easy way in. Investment sales seems more interesting from the way you put it. I suppose I can network my way in maybe", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxbkgf6", "text": "Stay in engineering/tech.  You can invest and fulfill your investing/financing interests on the side.", "replies": [], "depth": 1}, {"id": "hxbmjbg", "text": "cold calling fuckin sucks. i should have been an engineer. my dad, who is a loan broker, got me into mortgages and told me that he regretted getting me into it... but not until  i was in my 30's over a decade into it. i make a great living now.. wife and a kid... but i moved away from where my family was to another metro area when i was 30, thinking i could origiinate loans just like that. boy was i wrong and boy do i hate ramen noodles and beans now. that was ten years ago and life is different now, but i would not do it again. call me if you need a loan.lol", "replies": [{"id": "hxc56hu", "text": "Please listen to this man and stop with your midlife crisis.  I work as a CRE broker and I can approve everything this man says.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxbytk6", "text": "I wouldn\u2019t recommend it. But\u2026 see if your work will grant you a 6 month sabbatical and try out the CRE game. Best of luck", "replies": [], "depth": 1}, {"id": "hxc8896", "text": "Much like many of the commentators have said I\u2019d recommend against it. In order to be successful as an originator you have to be skilled and knowledgeable about CRE and debt instruments, build a massive network of contacts and referral partners, basically be a massive kiss ass and be prepared to sell your soul to close a deal. I\u2019ve dabbled in loan originations over the course of my career and it doesn\u2019t suit me. If you\u2019re not an extrovert with a killer instinct behind a bubbly facade it probably won\u2019t suit you either.\n\nI\u2019ve gravitated back towards an analyst role after several years of loan officer work in a boiler room type outfit. Now I get paid well to do basically a part time job from home. I\u2019ve lost weight, am more connected with my wife and kid and get to fishing midweek occasionally. If you want to get into CRE from the lender side I\u2019d learn to be an analyst/underwriter first and then transition to an originator role if you think it suits you.", "replies": [{"id": "hxc9xm8", "text": "Why sell your soul?", "replies": [{"id": "hxcbb0z", "text": "If you haven\u2019t seen it yet, google \u2018Glenngarry Glenn Ross speech\u2019 to see what you\u2019re getting yourself into.", "replies": [{"id": "hxdyxeb", "text": "Lol great video. Ok I gotta ask, how can I get into an analyst or underwriting position? Courses? Masters degree?", "replies": [{"id": "hxe55rm", "text": "I started out with a commercial bank as an underwriter after getting an undergraduate degree in accounting then progressed to a private lender and eventually getting into an analyst role with a publicly traded REIT. \n\nNot sure what the path for someone like you would look like. Anecdotally I interviewed for an analyst job in California with CBRE and they seemed to like people straight out of top schools with math degrees. If you\u2019re looking at master\u2019s programs for real estate that would make you a desirable candidate.\n\nFrankly the modeling and concepts aren\u2019t all that complex, especially for lending. You might just start knocking on doors and try to find someone that will train you up. You can find resources online to get up to speed on real estate and finance concepts. Discounted Cash Flow analysis would be a good place to start.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]