Why Shouldn't I be a Senior Core Lender
I'm on the equity side right now doing GP acquisitions and development, and projects are such a goddamn nightmare. I feel like acquisitions and development are such a mess and will always be that way, and senior lending seems so sweet where you don't even have to hunt for deals and you just gotta increase some of that risk profile and you're guaranteed some deals.
Either Core/Core+ senior balance sheet loans at bank or LifeCo lending. Is there any reason other than prefstige that I shouldn't just do this? It seems like a great place where I could be a corporate stowaway and slang a couple loans a year while going home at 6PM. Is there a significant comp difference? I'm at ~200k as a senior-ish associate in a non-NYC gateway.
Signed, an extreme burnout
Coming from experience, the work is mind-numbing.
Although to your point, great work life balance and decent pay.
Seems like you want to swing the pendulum too far, if i were you I would move to a cushier asset management gig at a GP shop… still get opportunity for GP level economics, not the same level of deal sprints involved in acq etc.
I work at a mezz/pref/LP equity investor and share a similar sentiment. However, the problem is pay. Easily a 50% pay cut for me to do a very similar job with fewer hours and less intensity (just re-read your post, it would be less of a pay cut for you if you came to a gateway market. High 100s is achievable as an associate). I feel like I would regret it after a year. I’m thinking I wait til I can exit to a director level position at one of those firms because moving up the ladder takes so long internally
If you are ready to commit to a corporate 9-5 job then sure. You will make pretty good money and have a good wlb. It’s not my vibe, but it is what it is and nothing to be looked down on or anything
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