E52: Goldman IB to CRE Private Equity. Optimize for This.

Wall Street Oasis

Business

4.9 • 534 Ratings

🗓️ 14 November 2019

⏱️ 60 minutes

🔗️ Recording | iTunes | RSS

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Summary

Member @crePE shares his unlikely path. How he broke into Goldman's ECM group even with no IB summer internship to why he turned down the analyst to associate promotion offered to him two years later. Why he moved west to start working in Commercial Real Estate (CRE) Institutional Sales in Chicago and how he eventually was able to successfully make the jump to the buy-side at a real estate private equity shop on the west coast. This episode has a lot of great lessons about optimizing your life and I'll hope you'll listen to the advice from this guest and take them to heart.

Transcript

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0:00.0	Hello and welcome. I'm Patrick Curtis, your host and Chief Monkey, and this is the Wall Street Oasis podcast. Join me as I talk to some of the community's most successful and inspirational members to gain valuable insight into different career paths and life in general. Let's get to it.
0:24.5	In this episode, member CRE entrepreneur shares his path from undergrad to working as a brokerage
0:30.5	analyst. He covers his shift over to the portfolio management side of the business, why he enjoys
0:35.9	real estate, how much his pay has gone up
0:38.3	since he graduated four years ago, and what's in store for him next. Also, listen to here,
0:44.1	what he's investing in now, and who he feels is a good fit for real estate finance careers.
0:49.3	Enjoy. All right, C-R-E-P-E. Welcome to the Wall Street Oasis podcast.
1:03.3	Good to be here.
1:04.8	So it'd be great if you could give a summary of your background to the listeners.
1:09.3	Sure. So I went to a state school that is not a top target for
1:16.9	old track investment banks, but there were about four kids in my class who got there. So I would call
1:22.7	it middle of the way target. And then I went to, I got it, I was fortunate enough to get an offer to work for
1:29.8	pretty equitable one in New York City and their equity capital markets group,
1:34.0	specifically within financial institutions, which was really cool.
1:38.5	And I took it because at the time I was kind of just like smart kids doing smart good stuff
1:42.8	and that's what all the other kids are doing. So I figured why not me? I did that for two years. It was a really good, it's really
1:49.7	good training, obviously, and I learned a lot. I say the second best decision I ever made was doing
1:54.6	that. The best decision I ever made was leaving. Okay.
2:03.2	It, it, it wears on you for sure.
2:07.6	I will say that in hindsight, I wish I had to save longer, but that decision, that that's easier to say, looking back on it, yeah, versus actually being in the thick of it.
2:15.4	After two years, I kind of knew finance was high street finance.
2:18.8	It's probably not for me. I just didn't have a lot of desire to do it. I was actually promoted
	...

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