Does Real Estate hurt my chances for top MBA?
I'm currently an undergrad business student from a target school with a 3.7+ GPA. I've always wanted to go into real estate, get my MBA at an M7 (particularly at HSW), then transition into other financial services. I'm planning on doing real estate after graduation. However, from looking at the websites of most schools, their class profiles show a super small percentage of students with prior real estate backgrounds (2-4%).
I was wondering if this is because real estate is a smaller industry than finance/consulting or if the admissions committee views real estate backgrounds in a different light?
Just going off seeing how a recent colleague went to a target, was in a back office role at a top firm for 4 years, and landed at a M7 you should be fine, given all other requirements/credentials are met.
It could also be that real estate careers require MBA pedigree far less than say, finance and consulting. Something to consider.
Two things to note here: i)smaller slice of the pie means you're competing with far fewer people (i.e. the real estate bucket) than you would be if you were coming from banking ii)as mentioned above, way fewer people in RE go to b-school because they have little to gain there. It's all about the deal experience in this business.
If your plan is to ultimately transition to another field in finance, I would highly advise going into RE at all. It's not very transferrable to corporate finance and your experience before b-school still matters a ton. Why wouldn't you aim for the field that you want to eventually be in?
Why would you go into RE if you already know you want to "transition" into something else later? Pursue what your passionately interested in and you may not even need an M7 MBA if you outperform your peers and are crushing it in a few years. Why do you want an M7 MBA right now and how do you know you won't love real estate and stick to it? As Steve Jobs once said in his Stanford commence speech, "you can never know exactly what's coming in your future/plan your entire life out, but looking back you can connect all the dots that got you to where you are." I butchered that but seriously check the YouTube for it and pursue what is going to make you want to go to work every day.
Thanks for the advice! I am interested in RE among other things, but I don't see myself working in it 20 years down the line. That is my main reasoning for just working in RE a few years out of college, then working in a different field.
I'll definitely check out the speech though.
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