Hey everyone,
Junior here in my undergrad in an NYC "non-target". High GPA, three past internships: PM at a REIT, capital markets (debt/equity) at a large brokerage, and now- acquisitions at an investment/development firm. I have a nice amount of underwriting experience and sourcing experience as a result of my current internship. I also have very strong connections with big players throughout the industry (REITS, PE, BB).
The reason for this post is in hope of gaining some insight from professionals outside NYC in REPE/REITS/Investment and Development firms.
I grew up in NYC and am looking to get OUT of here after graduation. I'm looking to make moves to a city that is warm, has a little better work life balance (although I know the big PE/REITS will have tense hours anywhere you go), and is far from NYC. I've looked into Brickell (FL) and a few spot in California- Santa Monica, Newport Beach, some spots in LA.
I would really appreciate some insight on the cities I posted above, or of some other cities that might be good for me to consider. My big criteria is: work-life balance at investment/development firms, salary+bonuses, and weather.
Thanks!
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LA fits criterion #2 and #3, but many companies grind out their analysts. You might lose a fraction in pay for Chicago but they have awesome summers; Dallas/SF both have good companies to work for.
Not really any new information here, just didn't want to leave you hanging.
Take a look at Miami or Boca Raton.
Thanks for replies.
SF would be right on key, but heard from locals that the weather isn't all that great.
Does anybody in RE have any insight on Santa Monica, Newport Beach, or Austin for young professionals?
I just moved to Los Angeles last month and I have to say it is quite amazing over here (Wednesday is looking like a high of 88 degrees). West coast seems more laid back than other major cities (NYC, Chicago). I think you are going to have to sacrifice something on your criteria because it seems a little counterintuitive (at least #1 & #2). If you want to be at a top firm you are going to have to forgo an occasional weekend / week night, which will happen at every major city, west coast or east.
Regarding opportunities, there are plenty of firms that are out here, both headquartered or have a west coast branch. Reach out to your connections you have because I guarantee they have a presence out here. That would be your best bet to make it out to LA. Newport is ok too, but LA seems to have better opportunities.
SF weather is OK, certianly not what you think of when you think california though. Purly weather I would put SF in perspective as calling it Southern Portland more than Northern California.
@GentlemanAndSchor Thanks for the insight. My #1 and #2 criteria did in fact seem a bit counterintuitive, so scratch that. It is good to hear that LA is more laid back, it will make life outside the office a lot more enjoyable, especially coming from NYC.
RE is a small industry and my contacts can get me in touch with the big guys in LA, so I'm gonna get working on that.
Did you move to LA from an NYC gig?
Sounds good, and good luck! If you do decide to move out to LA I don't think you will regret it (weather, night life, girls, nature, the list goes on and on). That's my biased opinion, esp given I don't know much about you lol. After graduating I did 2 years in Chicago and moved out here. PM me if you have any additional questions.
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