Development or JLL Capital Markets Internship
I am a current junior who interned for a large family CRE dev office last summer. I received a return offer to come back for this upcoming summer. However, I was offered a Capital Markets internship at a corporation as well (think JLL, CBRE, Eastdil). Is it wiser to start my career off in a smaller pond where I will continue learn many different aspects of dev, or should I pursue Capital Markets for the higher deal volume + more structure?
Based on the most helpful WSO content, your decision should align with your long-term career goals. Here's a breakdown:
Development Internship (Smaller Pond):
Capital Markets Internship (JLL, CBRE, Eastdil):
Recommendation:
If your ultimate goal is to work in development or start your own firm, the development internship might be more aligned with your aspirations. However, if you're looking to build a strong foundation in finance, gain exposure to institutional deal-making, or keep options open for REPE or other capital markets roles, the JLL/CBRE/Eastdil internship is the better choice.
Sources: Career Path in Commercial Real Estate, https://www.wallstreetoasis.com/forum/real-estate/starting-my-career-in-cre-five-years-out-of-undergrad-brokerage-vs-development?customgpt=1, Making The Jump - Construction Manager to Development, Need direction in life, How the hell are return offer candidates going to be assessed this summer?
I’d go for the capital markets role. You’ll see a ton in a short period of time and will be able to spin the internship into whatever you recruit for full time.
Why does JLL suck? In a similar situation as OP
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