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you need to straighten out your priorities first. do what you think you're more interested in. if you're worried about being "stuck" in real estate, then go do fixed income. let someone who actually cares about it take that job.
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Hmm yeah don’t do Starwood because then you won’t be able to exit to do DCM at an investment bank
lmfaoo
How the hell did you get an offer from either place? There’s like 5 typos in this post alone
My simple answer is that English is not my native and I got hired outside of US office.
Starwood is one of the top exits that people in reib want, and one of the top shops in global repe. Both are global firms so relocating should not be a problem at both.
At this point, it depends on if you want to be in debt or real estate. This might be controversial, but I'd argue that if you want to transition to corporate private equity later on, Starwood would be the better bet than the JPM offer. This is given that Starwood does corporate real estate buyouts, platform building, etc. Not possible with every real estate shop, but at places like BX, Brookfield, Starwood, etc. it is possible just given the nature of the relevant work.
Thanks for the useful advise, I probably should keep tracking Starwood’s deals and what kinda experience I can gain at the firm.
I wouldn’t be too worried about being pigeonholed into real estate from Starwood due to the fact that many of the real estate deals they do (many, but, not all) are corporate or large portfolio buyouts. As such, you should have strong optionality for other buy side roles.
Makes sense, do you think Starwood > Top MBA > Corporate PE could be possible?
I disagree. I’ve worked on entity level real estate deals and you’re generally doing the same thing as asset level deals - analyzing a large portfolio of properties, assets, leases, etc and coming up with a cap rate / price per SF that you can pay while also getting a good return.
The groups that invest in property managers, PropTech, hotel brands, construction companies etc would be very transferable to corporate PE because those are corporate PE deals. But taking a REIT private is not the same because there is little to no operating business there - it’s just a portfolio of assets.
But generally the real estate group at Starwood buys real estate, whether through an asset level or entity level deal. Also, generally only the A-team gets to take a meaningful role on the landmark deals Starwood does. Other offices will just be doing grunt work to support the deals.
That’s very useful information thank you. In Asia, I’m expected to involve in most of deals (just because there are only a few ppl), I hope I can get an exposure to hotel brand acquisition kinda deal. I saw BX did the type of deal in Asia.
You should also consider if you’re a morning person/love socializing. You’ll have to be up and in the office by 7 am, if not earlier, and your lunches might not be longer than 10 min. Also, you’ll eventually be responsible for PNL. If you hate the product and/or lifestyle, you’ll really have a bad time in sales. I know of someone in sales who starts the day at 6:30am and ends at 7pm, and they plan on quitting soon.
Starwood repe definitely gives you more options. You can probably lateral into another part of finance if you dislike real estate, since Starwood REPE is prestigious.
I actually liked both positions during my internship period, and I was thinking JPM could provide me more opportunities for internal lateral perspective, but maybe I was wrong seeing others and your thread;)
Starwood acquisitions 100% Traditional PE switch will be difficult regardless but think about the initial role ahead. I don't think you should be going into the Starwood role thinking it's just a stepping stone for another private equity role. A lot of people go into a good REPE job and end up staying for good. Disclaimer I'm still in college as well so this does not come from personal experience but I've been talking to a lot of people recently- Carlyle, Bx, TPG, KKR about REPE and PE since I am recruiting for both atm.
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