Job after RE Masters Degree \ Seeking advice
I recently graduated from my masters in real estate (Harvard/MIT level) and am currently interning at an LP (MF across JV, pref , mezz) since January. Had to decline the full time offer since it would make me relocate from NYC. Prior to school I was on the CRE Debt/Finance side. I've had internships throughout my time school at developers, NYC GPs, and this LP and find it so hard to actually get any traction in NYC across development, GP/LP, and private credit. I've been through only 1 final rounder (crushed the model and behaviorals but they ended up hiring no one).
I've been doing the standard applying, networking through direct contacts and getting warm intros for roles and cold emailing. I just started emailing recruiters but the results are largely the same.
I would appreciate any advice - i know school and these internships are in no means a silver bullet but I feel like right now its such a dead end. Especially when getting denied from Associate/Senior Analyst roles almost immediately after applying.
How many years of practical experience do you have? That matters much more than a degree, especially these days.
I have almost 3 years in new issuance CMBS, prior to that 2 years in commercial banking. I feel like i have enough experience and the right internships to pivot into acquisitions, dev and private credit.
Declining a FT offer is this market is rough, curious as to why you did that. Do you need to be in nyc or something?
Yeah, mother got cancer earlier this year so would like to be around and take care of her when i can. It was a hard decision that she pushed back on but I know i would regret moving.
Sorry to hear that brother, but good on you for doing so. It's the right thing.
In terms of the question at hand, you're doing everything right. Not much to add on besides keep at it, especially when you think there is no light at the end. Perseverance goes a long way and people notice. Keep attacking networking, postings, meetups, etc, while also expanding your search. You may not hit on the buyside right away and that's perfectly okay, so broadening the search to get your foot in the industry's door is what I suggest. Then once you are in, it's much easier to maneuver than trying to break in itself.
Appreciate that man - thank you. I'm still a graduate associate (aka intern) at my current shop - they are letting me stay on while I search. I'm just curious if that looks like a redflag for recruiters and firms etc. I am learning and doing a ton (only person below the MD/Partner Level) and know I can do well in interviews - its just getting through the initial screening and I'm trying to find remedies/reasons.
It's a slow market out there. Keep networking with alumni - people are much more accessible while you're a student/recent grad.
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