Financial Analyst at a REIT
Currently working as a capital markets analyst at one of the main CRE Brokerage Firms and am interviewing for a large REIT as a financial analyst. Was looking for any insight as to whether the community thinks this is a good move, what salary range to expect, what the growth from an analyst position within a REIT is, etc.
[{"id": "f1r3xkv", "text": "I can relate kind of, I just interviewed for a capital markets analyst at one of the big firms and financial analyst at a REIT. Got both jobs. Salary was higher at REIT (not by a ton, but higher) . \n\nI can\u2019t contest that I even made the right decision, but the REIT offered me 32 hour work weeks (9am-4pm). And with another week of vacation and all bank holidays off I ended up getting 2 weeks off more at the REIT. I\u2019m all about work/life balance so I chose the REIT.", "replies": [{"id": "f1r60r6", "text": "Appreciate it. What was your background, and how are you finding the transition to working at the REIT (assuming you weren't at one before) ?", "replies": [{"id": "f1r7w1y", "text": "MBA real estate finance, bachelors in architecture . Worked in project managment  for a national construction firm for 5 years (hated it, lots of over time, always under the gun, wasn\u2019t a healthy work environment, 60 hour work weeks) \n\nI actually haven\u2019t started yet! I finish my MBA real estate in December, so I start January 2.\n\nI spoke to the other analyst at the REIT and they love it there., basically saying they are out by 3-4 most days. So work/life was very important to me . \n\nI want to work in portfolio managment after a few years as an analyst.", "replies": [{"id": "f1rm40w", "text": "can I ask where you work that you're able to get out at 3 or 4pm most days?  I'm assuming it's not a largely populated urban area?", "replies": [{"id": "f1rmpkj", "text": "Philadelphia", "replies": [{"id": "f1vn0dg", "text": "I went from capital markets to private equity and my hours pretty much stayed the same. 55 on average. Doing 32 hour work weeks with an hour lunch is insane and  I would def take a pay cut to do that.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "f1ra2fb", "text": "Here\u2019s a question for you though. How was it in capital markets? Did you grind as much as I\u2019ve been told?", "replies": [{"id": "f1rvhub", "text": "I\u2019m actually in a situation where I work for an older broker who\u2019s kind of just coasting now. We don\u2019t grind as much, but I there are other analysts I\u2019ve met in the company who are usually in the office past 8. Overall I enjoy it, but I see the writing on the wall with the broker I work for so am looking into other options.", "replies": [{"id": "f1rz335", "text": "Yeah I\u2019ve heard good and bad about CM analyst, I just didn\u2019t want to risk it.  The broker who would be my boss seems nice though. I just don\u2019t want to risk working 60 hours a week again.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "f1r47kp", "text": "I think it depends what you want, but I would say that\u2019s a good move.\n\nSalary will be dependent on location and experience.", "replies": [], "depth": 1}, {"id": "f1racjo", "text": "If you want to be more on the asset management side - then yeah. If you want to be a broker - then no. Pretty simple. You will be learning significantly more about assets at a REIT since you\u2019re not just not trying to sell the damn thing.\n\nYou\u2019ll also likely be looking at better hours - analysts in capital markets are typically worked like a horse..I imagine you don\u2019t have the lightest schedule?", "replies": [], "depth": 1}, {"id": "f1rib36", "text": "Fellow analyst.  Actually starting at a publicly\nTraded REIT next week after coming from a private equity type role before.  Big change is going from irrs to more long term hold model but you\u2019ll definitely get more asset management experience at the REIT.  Work life balance tends to be better as well.  Good luck !", "replies": [], "depth": 1}, {"id": "f1sbnu1", "text": "Pretty big difference between public REIT and private REIT. I work at a private REIT and there\u2019s a lot of long term upside that I don\u2019t think you\u2019d see at a brokerage. More similar to the role I left at a REPE shop that I left to come to the REIT in terms of structure/compensation than to an institutional real estate advisory group that I worked at before.", "replies": [{"id": "f1u9u3z", "text": "It\u2019s a public REIT, do you think there is still a lot of long term upside?", "replies": [], "depth": 2}], "depth": 1}, {"id": "f20b1ov", "text": "What do you want to be when you grow up? :)  \n\n\nI just jumped from a senior analyst at a super-active investment sales team to a developer because I didn't want to be a broker. My salary went up and my hours went down -- and the hours I do work are way more flexible.   \n\n\nI can't speak specifically to a REIT because I've never worked for one, but this decision should be driven mostly by where you want to end up in the real estate business. Good luck!", "replies": [{"id": "f20buij", "text": "Appreciate it, and this is actually why I am moving forward with the interview. Don't think I want to be a broker. I guess my biggest question is what is the career outlook for an analyst? Where is the next step within a developer/owner/landlord?", "replies": [{"id": "f20cvvw", "text": "Generally speaking, the next step would be into an asset management role. The asset managers are in charge of implementing the fund's business plan for a given asset, whether that's undertaking value-add improvements, leasing or renewing leases, or simply operating an already core property. Beyond that, you move into fund management, which is higher level and deals with things like overall strategy, asset allocation, etc.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]