Is this really where I want to be..?
I've been working at a CMBS special servicing firm (Top 3) as an analyst in the portfolio management arm for about 10 months now. Before I graduated from undergrad in May, I interned here and was offered a full time position starting in June. Since then I have found my job to be more or less easy and quite boring honestly. I was comfortable with the fact that I had a secure job after graduating with a decent starting pay and a job somewhat centered in Finance. After careful thought, I've come to the realization that this might not be what I want in the long term.
The skills that I'm learning are okay, I guess, but I know that most of it is not transferable. I have been brushing up on my excel skills (VBA, Macros, some modeling) on my own time the last couple months.
I know that moving to other departments at my company might be reasonable in the future but what I really want to do is position myself to get into a more Corp. Finance role that concentrates more on financial analysis. Would my exp/skills be transferable to such areas like corp finance, traditional AM not RE-AM, or a role in PE? Or would my real estate background pigeon hole me into roles concentrated just in RE?
Yes, I do realize that I may be stretching a little to far here, but I'm more or less concerned about my future. To put it more plainly, should I be concerned about being pigeon holed in RE? If so, what are some options and routes I should consider taking that would provide me with some exit opps?
Thanks.
What exactly do you do? Walk me through a typical deal/project that you would work on, then I can help you.
Typically my day to day responsibilities are to analyze credit risk of individual loans in the firms CMBS deals. IE: payment delinquency, maturity default, looking at DSCR and LTV ratio's. I also run loss severity models checking bond performance and possible controlling class losses.
When an asset has been considered "distressed" I provide asset managers with strategies for resolution by conducting due diligence on the borrowers, market summaries, how the transaction was financed, default rates, contract interest.
CMBS Special Servicing is a specialised niche.
Your current role may position your for other debt related real estate finance jobs, or maybe risk management or asset management of similar portfolios at a financial institution depending on your other qualifications. Maybe you can use it to transition into a fund/institution that invests in RE debt or originates loans/mezz. I think that would be more exciting if you're still interested in real estate.
It isn't the kind of job that positions you to move to corporate finance, or non-real estate investment management. So basically, if you don't like real estate at all and don't want to spend most of your career monitoring debt portfolios, start applying to other jobs. Cast a wide net. Even look outside of finance (e.g. consulting, corporate world, etc...) Its much easier to move as a recent grad.
Thanks for the input Relinquis.
I definitely do not want to spend my career monitoring debt portfolio's. I have been applying to an assortment of jobs in the finance arena and have been getting some hits and interviews. The problem is trying to leverage my financial analysis skills/exp (obviously not much since I'm a recent grad) to show employers I have what it takes. The motivation and drive I have is second to none when it comes to pursuing a career in finance but I'm finding out it's harder then shit to break into without credible experience.
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