Starting a career in Debt and equity placement vs acquisitions
Need advice on where to start a career. The end goal is to own and operate deals on my own or go in on bigger ones with partners. 
What do y’all think would lay a better foundation for the future? 

Thanks,
[{"id": "ism0uhz", "text": "I would say to start in debt and equity. 96% of people don't understand how money is used and understanding this would put you in a really good position to be the CFO when you create a team and begin acquisitions.", "replies": [{"id": "ismc8hz", "text": "Do you think that d/e placement will be here long term?", "replies": [{"id": "ismrzgp", "text": "It will be around as long as people need to finance deals. That role exists to deal with getting hairy deals financed which will always be an issue.", "replies": [], "depth": 3}, {"id": "isnzvoy", "text": "This will always be around.", "replies": [], "depth": 3}, {"id": "isnzzzu", "text": "This will always be around. I used to sell real estate education and the #1 issue people would bring up that is stopping them from being a real estate investor is money. There will always be people that need help financing deals and there will always be people looking to invest in real estate. In fact I have been in more deals just understanding how to fund a deal creatively than finding the deals myself.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ismcltt", "text": "Debt and equity placement typically features commission based positions that rely on strong and vast networks that originators have before starting the position. I worked for one and there were only 2 salaried analysts.\n\nIf you are young and have a limited network you will surely fail. It takes years to accumulate a strong cash flow in commission based origination. Even if you close quickly you don\u2019t get paid for like a year.\n\nIf you happen to be older, experienced, and more importantly very networked, then give it a try. Otherwise you\u2019ll end up broke", "replies": [{"id": "ismcvuo", "text": "I\u2019m specifically referring to an d/e analyst or a acquisition analyst", "replies": [{"id": "ismdqbl", "text": "In my life experience the placement of money sees more deal flow. You will gain experience with various asset classes, types of deals, jv structures etc.\n\nHowever, in acquisitions, first and foremost the typically private equity firms are more prestigious and help with your reputation. Additionally, you will see more finer details and the actual execution of projects, rather than just the high level offering memorandums packages.\n\nI say acquisitions", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ismsm2k", "text": "If you want to own, do acquisitions. Debt and equity is great, but it is brokerage and your experience will be finding capitalization for deals someone else sourced and put under contract. You will spend shockingly little time underwriting (still a lot) and most of your time producing OM content (as an analyst) so your underwriting will not be as good.\n\nIn acquisitions you will gain experience finding deals, underwriting them like an owner and putting them under contract. You will also learn how to close and how to find money (sometimes using a debt and equity broker) and you will be involved with some of the asset management post acquisition so you will get feedback on how good or bad your predictions were.\n\nI think both options are great for very different reasons and either would be a very rewarding career.", "replies": [], "depth": 1}, {"id": "ismstf9", "text": "I have done both and currently head up an acquisitions department. The time I spent in capital markets really gave me a great foundation to sit in a principal seat.", "replies": [], "depth": 1}, {"id": "isofnmd", "text": "Personally would advise for asset management. You touch everything", "replies": [], "depth": 1}]