Municipals or Commercial Real Estate

As an institutional investor I am working with Munis and starting to get bored. I was approached by another person looking to hire me for Commercial Real Estate. I know relatively little except that it has a ‘cooler’ name to some and you get to travel more. Does anyone have any thoughts? Muni life is pretty cozy and sleepy and switching jobs while beginning to study for Level II is not ideal. Do these jobs pop up often or should I jump at the chance? Job opportunities would seem to be more diverse after learning the business but are they really better? Pay better? all the general crap … what do you know?

Weird, this is exactly up my alley. I was an IB analyst working in municipal bonds and I was bored out of my bloody mind. I switched into accounting/finance in commercial real estate briefly before moving internally into commercial real estate appraisal. Yes, there is a lot more travel. I love my job and I don’t regret leaving munis for a second. Pay is lower, but I’m also quite good at my job so down the road it’ll even out. I can’t give you any advice beyond this: they’re very different fields.

What type of commercial real estate, and what exactly would you be doing? Development? Acquisitions? Working internally in the finance department? Working for a REIT or a smaller entity? Would any of it qualify for CFA work experience? I assume you are in Chicago: off-topic - where do you live?