ruca1213

Regional Sales Director

Fintech enterprise sales to commercial real estate lending….Stupid to leave or not to take?

Hi sales rockstars would appreciate your advice. I’ll try to make this concise.

I have over 10 years of enterprise sales exp, making $300k ote and a very nice work life balance.

My uncle is a partner at a commercial real estate lending company (very reputable) and great guy. He has done well for himself and partners are making $1-5M annually.

He is retiring in 5 years and asked if I’d be interested coming on to learn and grow into San Diego market (he is in Los Angeles).

The long term goal of making 7 figures entices me like no other, but in order to get there this means going to $50k for 1,3,5 maybe even 10 years (right? You start as an associate and need to work you’re way up- associates there have been on for 10 years and are crushing but why haven’t they been promoted?). Just because it’s my uncle doesn’t mean I’ll have a fast track….

First q:

Im confident I’ll prove myself but if it’s a 5-10 year ramp is it worth making $50k for those years and not having the same Quality of life while I’m doing admin / support role vs closing like I am today? (And love)

Second q:

Am I crazy for leaving such a hot and in demand industry - fintech security saas enterprise software? Or is commercial real estate just as hot and the deals are bigger so who cares🤣 (just a brand new market I’d need to learn about?)

Appreciate your guidance and words of wisdom.

🎈 Mentorship

☁️ Software Tech

9

14 comments

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Sunbunny31

Politicker

5

Sr Sales Executive 🐰

“I’d be interested, but I have a difficult time justifying walking away from $300k/year and starting from scratch for 1/6 my value while I ramp up”.
I mean, serious setbacks there. Plus CA is expensive (if you’re not already here).
No way would I do this under the plan you outlined.

hh456

Celebrated Contributor

4

sales

I’d stay. You’ve found your niche, you’re successful. You are one of the top 1% earners in America, top .001% in the world. The grass isn’t always greener. Plus you can be a vp of sales in SaaS for half a mil which is close enough.

funcoupons

WR Officer

3

👑

Agreed. Going from 300k to 50k would be horrendous. Enjoy your success and stay put.

ruca1213

Contributor

1

Regional Sales Director

Thank you so much

ruca1213

Contributor

0

Regional Sales Director

Thank you for the perspective reminder!!!

braintank

Politicker

2

Enterprise Account Executive

I was under the impression commercial real estate was cooling down due to covid.

Beans

Big Shot

2

Enterprise Account Executive

I wouldn't, leaving the future of technology for a legacy system that's based more on network than hard work.

ruca1213

Contributor

1

Regional Sales Director

Such a great point

FormerStartupJobHopper

Tycoon

2

AE

I would absolutely not do that, just me. 1 year-3 years with a guranteed path? Yeah I probably would, but that is way too risky and too big a fall

MokeMateo

Executive

0

Enterprise Account Executive

Agree. And the 1-3 year path is .01% of the opportunities in this industry. The 5-10 year timeframe is the reality. @ruca1213, you'll have a much higher % chance of cashing out big with equity in the secuirty SaaS industry than making 7-figures in 5-years doing commercial lending

MokeMateo

Executive

0

Enterprise Account Executive

Don't do it. I tried to make a similar move 2 years ago into commercial RE brokerage, and am going back into tech sales. Once you've been an enterprise seller, heading to the bottom of the totem poll to do the betch work, especially in an old-school industry, is not fun at all. They don't need you in front of the clients -- they need you waiting at your desk to process any new deal that comes along. The work-life balance will feel horrible coming from your current situation.

If 7-figure payouts interest you, why not look for an Ent AE role at a promising pre-IPO company? If you have enough experience, you can keep the $300k OTE, and make a bet to land a few $mil if the exit is successful.

ruca1213

Contributor

0

Regional Sales Director

Brilliant advice

Smilesndialz

Politicker

0

SDR

I would not do that! You’re on your way to potentially making 7 figures why take a major pay cut? Plus, $50K in CA will not go far at all

Hoopnip

Politicker

0

Commercial AE

Depends on your age…. Math wise your losing on $3.6M vs $500k in earnings over 10 years. However if you’re able to be a partner and learn from your family ….I highly doubt it will take you 10 years to make good $$$ in commercial. I would say 5 years or less to get you to 6 figures and you would be just fine. If you have a decent savings and find someone to date who makes great money 😂 You can always sell technology… fuck it go for it.

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