More portable for secondary markets - Finance or Real Estate? Forum
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Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.
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Love With The Coco
- Posts: 67
- Joined: Wed Jul 08, 2015 5:32 pm
More portable for secondary markets - Finance or Real Estate?
Say you want to go to a non-coastal secondary city from NYC biglaw. What's the better practice area?
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Hakki
- Posts: 24
- Joined: Fri Aug 19, 2016 4:44 pm
Re: More portable for secondary markets - Finance or Real Estate?
There's a lot more to it than your question that you're not specifying.
What secondary city are you looking for?
Is the finance work you'd do in NYC representing agents/arrangers/other lenders, or sponsors/borrowers? Unless you're looking at Charlotte, NC or something, you're not going to see a ton of lender-side work outside major metropolitan areas, and it's not like a ton of small companies need someone for repeat bank financings.
Is "finance" syndicated lending or securities offerings as well, including high-yield or convertible bonds? If you're getting some securities experience, too, that's a good thing for portability.
Is the real estate work you'd do focused on real estate PE, RE financing, or dirt?
It's hard to know, but I'd honestly pick whichever you like better/lets you work with better people, and when the time comes to move away from NYC you'll just have to pitch yourself and your experience as hard as you can. It'll be harder to find a clean transition from a finance job and RE to a slightly lesser extent, which I think you've realized, but you can always pitch your deal experience at something that's not 1:1 to what you were doing before. I would say that the more generalist you can keep your practice (a wider variety of finance, or a fuller spectrum of RE deals) the more successful you'll probably be... don't become the go-to guy for some niche financing model.
What secondary city are you looking for?
Is the finance work you'd do in NYC representing agents/arrangers/other lenders, or sponsors/borrowers? Unless you're looking at Charlotte, NC or something, you're not going to see a ton of lender-side work outside major metropolitan areas, and it's not like a ton of small companies need someone for repeat bank financings.
Is "finance" syndicated lending or securities offerings as well, including high-yield or convertible bonds? If you're getting some securities experience, too, that's a good thing for portability.
Is the real estate work you'd do focused on real estate PE, RE financing, or dirt?
It's hard to know, but I'd honestly pick whichever you like better/lets you work with better people, and when the time comes to move away from NYC you'll just have to pitch yourself and your experience as hard as you can. It'll be harder to find a clean transition from a finance job and RE to a slightly lesser extent, which I think you've realized, but you can always pitch your deal experience at something that's not 1:1 to what you were doing before. I would say that the more generalist you can keep your practice (a wider variety of finance, or a fuller spectrum of RE deals) the more successful you'll probably be... don't become the go-to guy for some niche financing model.
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Night_L
- Posts: 35
- Joined: Wed Apr 16, 2008 4:15 pm
Re: More portable for secondary markets - Finance or Real Estate?
Specifying the cities you are considering will not out you and will prompt more useful replies.Love With The Coco wrote:Say you want to go to a non-coastal secondary city from NYC biglaw. What's the better practice area?
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Love With The Coco
- Posts: 67
- Joined: Wed Jul 08, 2015 5:32 pm
Re: More portable for secondary markets - Finance or Real Estate?
I am not looking at any particular city but if you must- Texas, Atlanta, Charlotte, Denver, Las VegasNight_L wrote:Specifying the cities you are considering will not out you and will prompt more useful replies.Love With The Coco wrote:Say you want to go to a non-coastal secondary city from NYC biglaw. What's the better practice area?
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