Tenant Rep vs. Capital Markets Analyst
Opportunity to join a Tenant Rep office broker at CBRE in SF. Have an opportunity to join a debt team as an analyst in SD at JLL. Conflicted and would love some insight. Both teams do a lot of volume and make a killing.
Would highly, highly recommend capital markets, especially if you are new out of school. I know a lot of tenant brokers that have or to move to the sell side, I do not know any that have done the reverse. In general, you will also have a lot more optionality after working in capital markets than you would as a tenant rep. Unless you want to try to build some sort of business around using your tenant relationships to lease and flip distressed buildings on your own, would recommend capital markets by a long shot.
Id take the capital markets role. For one San Diego is nicer than SF and cheaper. You’ll probably make dog water comp at both so SD will be more affordable. As mentioned above also more optionality. Volume won’t be a lot in SD btw. At least I can’t imagine it. I was at JLL and it sucked but prob better than CB.
Thank you both for the insight. Was curious how possible it is to move markets within JLL as a capital markets analyst. I've seen analysts after a year or so move to a different market on the debt side. Is moving to a larger market possible within Debt at JLL?
If you’re a good analyst and there’s an opening you can talk to the team and see if you can get a referral. No guarantee tho. It sucked cuz pay sucked people sucked culture sucked hours sucked and long term progression sucked. Wasn’t impressed by the older people in the office.
Also curious why you say it sucked
Definitely CM. By far the better of the two in my opinion especially if your a new grad
I interviewed last year at both CBRE and JLL for capital markets roles. PM if interested, took the CB role.
Worked on the SD capital markets debt team. Had a great experience and definitely would recommend CM over tenant rep but honestly those are too very different sides of the business. You should probably take a step back and think if you want to do more of a finance based underwriting role or more traditional “brokerage” role. But feel free to PM if you have any questions. Would be happy to share my experience and give any insights into the team, role and culture.
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