Commercial Real Estate Acquisitions vs Brokerage pros and cons
Need help weighing out the pros and cons of acquisitions vs brokerage.  I’m interning at a brokerage that has an acquisition division so I’ve had the opportunity to learn somewhat about acquisitions but mainly brokerage.

1. Are most people in an acquisition role on a base + commission structure or is it eat what you kill like brokerage?  And if there is a base salary,  is it just enough to keep the lights on or a decent amount?

2. Is travel involved when one works for an acquisition shop doing deals around the country?

3.  Is it hard to go from acquisitions to brokerage (or vice versa) if one changes their mind?

4. How different is the “day to day” of an acquisitions associate/analyst vs broker?

5.  (Most important) which is more lucrative to break into out of college?

I’m graduating college in the next year and leaning towards acquisitions.  But I would love to hear some input!
[{"id": "ij2trhp", "text": "Acquisition over brokerage\n\nAcquisition has a higher barrier to entry\n\nOnly 10-20% of people who enter into brokerage makes a decent living", "replies": [{"id": "ijfuoro", "text": "Makes sense, thanks for the help!", "replies": [], "depth": 2}], "depth": 1}, {"id": "ij31r03", "text": "1. Base + bonus for most, commission or per deal payout structures aren\u2019t common in acquisitions. Base + bonus and the bonus varies based on performance, sometimes even get equity in your deals. Base salary in acquisitions is excellent and very secure if you\u2019re at a good shop.\n\n2. Typically yes.\n\n3. Very common to switch from brokerage to acquisitions, less so the other way around but also very doable. (Most people in acquisitions don\u2019t want to switch)\n\n4. This is the critical question here and the answer is the reason for my bracketed section of #3 - these are totally different careers and you should choose based on your long term interests. Brokerage is sales, pure and simple. Acquisitions is an investing role and you spend time thinking about deal structure, downside risk, fund raising, etc etc. it\u2019s more intellectual overall.\n\n5. Depends. Acquisitions is a higher paying career on average and more secure, but top performing brokers have a higher ceiling unless you start your own company later on from acquisitions.\n\n5 is not the most important question. If you hate sales or aren\u2019t a social butterfly you won\u2019t thrive in brokerage, and vice versa for acquisitions if you can\u2019t understand your investment thesis and the risks of different assets.", "replies": [{"id": "ij5k2a4", "text": "To be honest as someone in the acquisitions space, it very much is also sales. Not 100% commission, but your job is to put meat on the table for the firm. If a syndicator shop, you don\u2019t get paid if you dont. Operators with mgmt cos need the fees and deal guys for funds have investment windows to put out equity. That said acquisitions is more granular.", "replies": [], "depth": 2}, {"id": "ijfv6ap", "text": "I really do appreciate the time you took to respond to my post.  Your insights helped reinforce my interest in the acquisitions side of the business.  Nothing wrong with brokerage, I\u2019m just not interested in their day-to-day activities as much.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ij4cymk", "text": "I was previously in acquisitions, left because I had the boss from hell and went over to brokerage side. I've been with the brokerage for a while now, and would like to go back over to acquisitions. I think it really depends on your personality and skill set which is better for you. Deal volume has been insane and it's been challenging keeping up with the work load. Acquisitions can get like this as well. I also really dislike putting together marketing packages and selling a property. I much prefer being on the buying side of things.", "replies": [{"id": "ijfvq4y", "text": "Thanks for sharing your story!  Do you think deal volume will drastically decrease in the coming year or so with the luming downturn?", "replies": [], "depth": 2}], "depth": 1}, {"id": "ijq1wzr", "text": "Bro do acquisitions lol. \n\nNot brokerage. You will not get paid for 2 years in brokerage and that is normal", "replies": [{"id": "ijq6vs6", "text": "That\u2019s what I\u2019m working towards now!", "replies": [], "depth": 2}], "depth": 1}]