Getting a job as a RE Development Analyst
I am entering my senior year at a target (ivy league) school. I have interned these past 2 summers at smaller Real Estate Development companies (one being my father's). My goal is to get a job at one of the bigger companies (such as Related, Extell, etc.) in New York as an analyst, or any entry-level position, after I finish undergrad next year. Do these big companies generally hire analysts out of undergrad? Do they recruit on-campus (I've inquired with my school but have not yet received a response)? How competitive are the analyst positions at these big companies? - I worry because my GPA is not ideal. Any advice given / help offered is much appreciated.
short answer - yes...very competitive. Especially because you used the almighty 'd' word that you want to work in. Good news for you is the internships. Definitely leverage that experience that you not only want to be a developer...but youve WORKED for a developer and STILL/even moreso want to be one.
problem with these larger schools that pluck right out of undergrad, is you get a lot of turnover. Similar to IB, every says they WANT to do it...but once a month or two passes and their not dining with the starts of Million Dollar Listing, they tend to lose interest and move on.
Also, the large shops oftentimes use headhunters, if they dont have that role internally obviously. Ive worked at two large REPE companies, and both came to me through a recruiter that was unaffiliated with the company.
Development Analyst roles are scarce and thus, very competitive. You have the ace in the hole though - have your dad work some magic for you.
I'm somewhat in the same position, about to start my junior year of undergrad, wondering about specific jobs I could get after graduating with my bachelor's. Have you considered asset managing? I work directly with the asset manager at the development firm I'm interning at and I find his responsibilities to be very intriguing.
Thanks for the response. I've been looking into asset management, acquisitions, and reit all as possible gateways into an eventual development. How is your current spot outside of being intriguing? What's a regular day like, and how are the hours / rigor?
As I am only an intern, I work about 30 hours a week. The rigor definitely depends on the day, some days are slower than others. Working directly with leases and tenants is definitely my favorite aspect. At the firm I work at, they own a lot of office buildings, so the asset manager here essentially works towards filling vacancies, establishing lease deals, and eventually selling the buildings for a profit. Hope this helps!
Didn't you already accomplish this, Alex Witkoff? You bounced from Eastdil to Morgan Stanley and now you're the youngest VP at your dad's firm...
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