Lateral from Investment Banking?
Been doing my SA stint at a TMT group in SF and can tell that IB isn't for me. I don't really like the work, the people that I work with, and I don't feel like I'm developing any useful skills.
At the current moment, I'm just reconsidering my options for different career paths and would love to hear from some people wiser than me.
I was hoping to get some insight on this forum about:
1) how difficult it would be to lateral to Real Estate. My resume is basically just IB (IB junior year, asset manager sophomore year, investment clubs, etc), and I have no experience with real estate. Is this a big barrier, or would my IB background be helpful as it proves that I am willing to do work?
2) In general what are my options in real estate? I know that there are brokers, agents, and REITs but would love to hear someone go more in depth as to what jobs are available out of college.
3) some general stories from people that have done something similar
Thankful for any comments
1) Lateralling isn't hard.
2) Your options are open to pretty much anything with an IB background, as long as you learn the technicals of RE and modelling in your own time. You could move to brokerage, which is for some reason glorified on WSO but brain dead work, entry level Acquisitions / AM roles at various shops. Most big shops have entry level roles with a lot of competition but with technicals and an IB background, a little grind and you should manage.
3) I only know of people switching to Principal side after several years of IB. If anything, any IB roles / experience with modelling and CorpFin are an advantage because you get training at big shops. Tbh, I think REIB groups are less favoured over M&A / LevFin counterparts in many places due to transaction experience, deadlines, rigour, modelling work and more.
Might be an unpopular opinion, but honestly I’d encourage you to stick it out for a year. Pay, skill set and exit ops will be better after a years time. If you’re in a TMT group in SF you’re getting good experience too. My .02
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