How do you make your way up from a family business to corporate?
Hey r/CRE,

To give a backstory, I'm a fresh graduate and just got my bachelor's in Finance. I recently started working for a family-owned CRE firm as an acquisitions analyst. So far, the job is really suiting my overall personality and I'm getting the hang of most concepts fairly quickly. We're even closing a multimillion deal soon after I helped find and analyze the acquisition over a few weeks. 

Anyways, I wanted to know, how do I make my way up in the CRE world? Do I go from this role to a corporate role that pays more $$$? What were your guys' career paths?
[{"id": "iigig2f", "text": "It depends on you. Smaller firms means more personalized experience and people care about each other.\n\nStart up is usually very relaxed.\n\nCorporate is more uptight.\n\nMoving up does not necessarily mean moving to bigger firms IMO. I think moving up just means your worth is becoming more and more as you accumulate more experience and can eventually earn more money doesn\u2019t matter if start up, family businesses, or large firms. Tbh I\u2019m not the biggest fan of giant corporations as you can tell but it is probably the easiest to find jobs with them.", "replies": [{"id": "iigkdlc", "text": "Thanks, that makes more sense. I'm pretty comfy with my current position and the company culture so I really don't mind staying for a few years until I run into some personal issues like pay. \n\nBut yea that makes me feel better knowing that corporate isn't guaranteed =/= higher pay.", "replies": [{"id": "iigvjmb", "text": "In fact a lot of the times it\u2019s the opposite lol. I\u2019m glad I made you feel better, you sound like you are with an awesome firm.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iigjuyh", "text": "This has to be a troll", "replies": [{"id": "iigkj9d", "text": "It's not lol. I'm just inexperienced and read threads on r/accounting about what Big 4 pays vs. public accounting firms and it always made me feel uneasy. Then again, the work you put in corporate roles seems pretty robotic and unenjoyable so not really sure about doing any corporate if I enjoy my company long enough.", "replies": [], "depth": 2}], "depth": 1}, {"id": "iigkcjb", "text": "I\u2019m in the same position. I\u2019d also be interested in anyones career paths after starting at a family fund", "replies": [{"id": "iigkvpa", "text": "Yea it's interesting reading salary variance, but it also gives me FOMO about potential opportunities in higher-paying firms. \n\nJust to clarify, my base pay is $45K, quarterly bonuses, general benefits, and 401K employer match. This is based in South Florida (not Miami).", "replies": [], "depth": 2}], "depth": 1}, {"id": "iigva3w", "text": "Braj just learn the tricks of the trade, gain more hard skills, and leverage yourself\n\nWith big firms you have to be a specialist\u2026 if that\u2019s what u want, specialize\n\nThis is not accounting", "replies": [{"id": "iigxh03", "text": "Ah okay gotcha. Currently just on Excel, no ARGUS.. maybe soon if the firm utilizes their software. And yea man, I assumed finance/accounting roles are laddered the same way in corporate, but seems like you're saying it's a bit different. That makes more sense. \n\nJust to branch off your ideas, I must say I really like the acquisitions side so far, but I can see myself learning more broad skills to gain a larger role in the firm\n\nI'm not sure how specialized an \"acquisitions analyst\" role can become, any insight on that?", "replies": [{"id": "iigz6gu", "text": "Okay so if you want to work for a JLL/CBRE then you should just do anything to get in now. Network and keep applying\n\nAs far as a specializing, IMO it happens naturally\u2026 you\u2019re learning about acquisition of your family offices buying capabilities + market interest. \u201cWe specialized in office/medical ($30m&lt;x&gt;$15m) in (x) part of the country\u201d\n\nExcel is fine; it\u2019s just your calculator! Just fundamentally understand the financial process behind it. The math + who are the ppl in your company talking to (banks/investors) when you hand them the pro forma \n\nI meant this isn\u2019t accounting as in there\u2019s money in family offices to be shared if you provide value. I\u2019m like the other dude - more into family firms, eventually you should get good enough to work for a few at one time", "replies": [{"id": "iih0zrb", "text": "Thanks again. You're really great at breaking down the info I'm trying to grasp. I'm more inclined to stay at my family-owned firm and see how much I enjoy this career before I jump the gun. Similar to how others have mentioned, there's a sacrifice in each type of office, whether it's small or large. \n\nI'll keep at it for now and get better at specifics rather than broad stuff and keep up with my Excel skills. It's the most I can do to get a head start. \n\nBy the way, what do you mean \"work for a few at one time\"? Like I would work a corporate position that manages several firms?", "replies": [{"id": "iii6w33", "text": "No problem.\n\nLike you can consult for multiple firms if you become efficient enough with your time", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iih09u5", "text": "Can you accurately value complex income-producing properties?", "replies": [{"id": "iih16fc", "text": "Nah I can't yet, lol. I'm just working on basics so far - mainly office-retail-multifamily-industrial.\n\nHow complex do other property types get?", "replies": [], "depth": 2}], "depth": 1}, {"id": "iii5e9w", "text": "I had a similar entry into the career as you. Initially I felt that one of the future steps in my career would be working for one of the major firms, I assumed the prestige path of real estate was like other industries.\n\nReal Estate is different in a lot of ways. Many commercial brokers dream of ending up running their own small family office and do not have the opportunity to start there. \n\nAfter nearly ten years of experience I would never trade my freedom for working at a major brokerage. I produce my own clients, choose all of my expenses, and I keep all commissions. \n\nYou have a mentor in the family member who runs your office. They likely used to work for one of the big offices. Ask them what they think and what they would do to advance their career if they were just starting the real estate business.", "replies": [{"id": "iikjhap", "text": "Great insight, thanks for the reply. That's what I've been hearing in this thread - that it's better to start off entry and eventually make your decision to do your own thing. \n\nI'll have to bring this up eventually one of these days, but for now, I don't mind working under someone as they gain experience.", "replies": [], "depth": 2}], "depth": 1}, {"id": "iiibyfc", "text": "What size is the family-owned business. I ask because \u201ccorporate\u201d isn\u2019t necessarily moving up or can just be a family business (for a glaring example, Hines and Tishman Speyer are family-owned businesses and they\u2019re two of the biggest out there).", "replies": [{"id": "iikjpzs", "text": "It's about 15-20 employees split into 1)Loans 2)Accounting 3)Property Management. We do a ton of loans as our main business, but we also do property acquisitions, which is where I come in. \n\nAnd yea that's interesting. I never heard of Hines or Tishman Speyer, but I'll have to dig into them this week.", "replies": [], "depth": 2}], "depth": 1}, {"id": "iiizggb", "text": "If you\u2019re working at a family shop, isn\u2019t the upside virtually unlimited?", "replies": [{"id": "iikjuvz", "text": "Exactly. Over a few years, I can raise my salary many times over + get bonuses. I see it as a growth opportunity.", "replies": [], "depth": 2}], "depth": 1}]