Breaking Into CRE on the Principal Side as an Analyst
I am 2 years out of college and work at a boutique management consulting firm. I would like to pivot career paths to CRE on the principal side into Asset Management/Acquisitions/Development. 

I am wondering if this is even possible? I have been talking to people about the possibility of making this type of career switch and have been getting mixed responses.

I believe my next course of action would be to start studying RE financial modeling through Break Into CRE and then potentially trying to get an ARGUS certification. I also have a 750 GMAT and could eventually try and get my MBA to make the switch, but I am hoping to get my toes wet in RE before an MBA. 

Thanks for the advice!
[{"id": "i4s8ttv", "text": "1. Network a ton\n2. Network even more\n3. Consider potentially taking a job that is a step closer towards that end goal if getting no traction (i.e. CRE Lending / Capital Markets / RE Valuations) as making that direct jump is pretty tough from having no prior RE experience. \n\nSelf-study is definitely a good way to supplement the above efforts and having a 750 in your back pocket is very impressive.", "replies": [{"id": "i4siqb1", "text": "Gotcha, well I guess that is the plan! It does seem like the CRE space is hiring a bunch which hopefully works in my favor.\n\nAlso, I looked through your post history and saw that you were in a similar boat to me looking to jump from consulting to CRE. Hopefully that went well and hopefully your GMAT studying went well also!", "replies": [{"id": "i4vg419", "text": "Hahahah correct. Saw your post and immediately empathized. I started off in a similar boat and ultimately made my way into an acquisitions / AM role after having jumped to CRE lending after consulting. Ended up letting my less impressive GMAT score expire after making my most recent jump.", "replies": [{"id": "i4vjwpu", "text": "Hell ya! That's awesome to hear. Totally fair on the GMAT front - always time to go back and get that score up if that is what you want to do. No score is unachievable if you want to put in the time... but it sounds like you are in a great spot!", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i4sksaj", "text": "All are very possible with your experience, but very different career paths. AM and acquisitions are the closest aligned, but very different. Acquisitions is very production based in sourcing and pitching deals to the firm. As someone that works in that space &lt;10% of deals you UW come to anything material. Asset management drive the business plans for the ones that do. Development is a very different ballgame and depends if they are merchant or build and hold? Also, all of these roles can differ from REITs, to GPs that tie up deals with one-off partners, to full blown REPE groups in the fund business. Learn the merits/demerits of each (they often cross paths on deals) and find your role/sector within them you like. In your case, I\u2019d keep strengthening your skill set through the excel education and learning the industry through networking. Assuming you come from management consulting, your likely going to take a pay cut or lateral growth for an analyst role as it is, and an MBA with no experience will only widen that gap.  Getting into a good shop and gaining deal experience is everything and will make that MBA look less important. CRE is pretty simple and rewarding, and at the end of the day is a sector that is filled with people that are there by choice and value relationships", "replies": [{"id": "i4snzbc", "text": "Yes, they are a bit different, but I suppose it is hard to know exactly what I want to do within CRE until I give it a shot. Do you enjoy acquisitions / what is your end game? Yup, I'm planning to take a hit in comp (currently at about 80 base + 10/20 bonus), but I am hoping that in the long run CRE comp will outpace MC and am hopeful that my WLB remains similar (50-55 hrs/wk). I certainly don't mind the grind with the right team / work . opportunities though. \n\nDefinitely agree, it seems I should get exp before MBA. I know that MBA's aren't the most valued in the CRE space, but I still think it can provide value if I use it right", "replies": [{"id": "i4sxbcc", "text": "Enjoy acquisitions and have no plans to move to a different space. On comp your $80k + bonus is in line with REPE analysts roles at institutional grade shops in my market (SE) and associates are $100k + bonus. At the places you want to be, the real comp is carry in the fund/deals you work on. WLB \nfor most boutique shops is 35-40 hrs ratcheting up to 55-60 when bringing deals to investment committtee", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i4sksn4", "text": "1. Network your ass off. \n2. Get REFM Certified (Levels 1,2,3) \n3. Take some Break into CRE courses. \n4. Get ARGUS certified. \n\n750 GMAT is outstanding. For real estate, U of Wisconsin is known for its strong real estate offering. Then again, with a score like that you could get into a M7 MBA program if you play your cards right. You're on the right track!", "replies": [{"id": "i4smwv5", "text": "Amazing advice, thanks for the help. Ya I have been thinking about a masters vs. MBA but honestly if I do go back to school I'm gonna shoot for the best ranked MBA I can get. the 750 took a bit of work so might as well try and use it", "replies": [{"id": "i4spsfc", "text": "Doing a top-ranked MBA will be big game changer for you. Feel free to DM me if you have further questions.   \n\n\nGood luck with the breaking in! You got this.", "replies": [{"id": "i4squbp", "text": "Will do, appreciate you", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "i4u1596", "text": "Argus Argus Argus so important. You really won\u2019t get looks if it\u2019s not on your resume, and it\u2019s not the kind of thing to learn on the fly.", "replies": [], "depth": 2}], "depth": 1}, {"id": "i4swovo", "text": "Your experience with financial analysis should be applicable. You\u2019ll just have to get up to speed with the industry specific lingo which isn\u2019t that bad. As for how to get in, figure out who the biggest players are in your city for the position you desire and call them. I\u2019ve done this myself and people usually are receptive. It\u2019s both a stroke to their ego and humbling to yourself for you to show up in their email/LinkedIn inbox asking for 15 minutes to ask their advice and point you in the right direction. Kinda tough to be a dick to somebody acknowledging your expertise and asking to learn from it. Good luck!", "replies": [], "depth": 1}, {"id": "i5454o2", "text": "MBA not necessary. Whether or not you can break in will all come down to how you network and how you pitch your story, your \"WHY\". That's what matters in CRE.\n\nThe truth (in my experience in the primary markets I am in) is that the average CRE professional gets into this business because they come from a family of real estate people. Nepotism is the name of the game in CRE jobs. I'm not complaining , just stating my observation. \n\n(Think about it, if you come from a family of developers that had you involved in the family biz from an early age, you automatically have 5+ years of experience before you even go to college. )\n\nPeople like the story of the outsider trying to make it big in real estate. Everyone loves an underdog. So long as you can perfectly craft your story and be able to answer the simple question of \"why do you want this?\" you can make it.", "replies": [], "depth": 1}]