3 Years Later: Follow Along With My CRE Adventure
This is a follow-up to a post I made ~3 years ago. I thought it would be fun to keep the CRE adventure thread going and hopefully help others from nontraditional backgrounds.
https://www.wallstreetoasis.com/forum/real-estate/which-cre-adventure-makes-the-most-sense-for-me
Update:
I followed the advice from the original thread and tried Adventure 3 (pivot from my non-investment role into an investment seat). I landed a handful of Analyst interviews but kept getting cut. My title/background did not read like a traditional investment candidate. I also lacked the underwriting/deal reps firms wanted. A difficult CRE hiring market the past few years did not help either.
I decided I needed a bigger career reset. I was fortunate enough to get into a full-time M7 MBA with a top real estate program. I just started in September as a 1Y. I now have ~4 years in CRE but still lack the traditional acquisitions/underwriting pedigree of most peers my age.
I am now deciding between two post-MBA paths. From speaking with 2Ys, trying to recruit for both is extremely difficult given the timing (and reneging on an REIB offer can create major issues).
Adventure 1: Recruit for REIB, spend a few years there post-MBA, then move into REPE (or stay if I like it)
Pros:
-Adds technical credibility and transaction reps missing from my resume
-Stronger brand/credential could expand future REPE opportunities
-Significantly higher post-MBA compensation
Cons:
-Significantly worse work-life balance
-Does not build the asset-level investing skills I ultimately want
-Post-MBA REGAL exits I found on LinkedIn were sparse (many stayed through VP) and skewed toward REITs rather than traditional REPE
Adventure 2: Skip REIB and go all-in on REPE
Pros:
-Gets me exactly where I ultimately want to be
-I can start building underwriting/deal reps immediately post-MBA
Cons:
-REPE outcomes for the class above me were poor (with many landing in Leadership Development Programs at developers/REITs)
-My lack of acquisitions/underwriting experience may limit the caliber of REPE platform I can land
-Comp will most likely be significantly below REIB (and MBAs are not cheap)
