Keep trucking, there’s light at the end of the tunnel
Searching for RE jobs is downright terrible right now. Wanted to share some background, and a story about how quickly your luck can change.
3 years D/E placement in a non-US market
Spent 3 years on a solid D/E placement team as an analyst and started getting extremely burnt out during COVID. Tough market like today, but I had always planned to do a US MBA (albeit later) and stay on to work. I pulled trigger on that sooner than later to take a breather, gain perspective, and meet interesting people. And no, MBAs are not worth it full pop, unless your pre-bschool comp is brutal, or you have cash to spare.
Really enjoyed the MBA experience, but my god has this been a ride of a search. I decided not to return to the spot I interned because it was too big a company… and ofturns south. What did I do? I dialed for dollars. I must’ve had 250 coffee chats in 2nd year for AQ, originations, etc. roles. Overall had 50 1st round interviews, 3 finalist finishes, and 2 offers. I then promptly declined both offers early in the summer, call it July.
I then started from scratch. This time around, I really focused on finding companies with roles open, and networking from there. This is not what they teach at business school. Instead of quantity, I focused on quality firstly by busting my ass on the case studies and shoring up every single aspect of underwriting you'd see on a modeling test/take home case. Also, did a ton of research, practiced memo writing, and learned to think like an investor in doing so. Keep in mind, this whole time I’m on a 3-month maximum unemployment clock that’s tied to my student, with deportation as the alternative. Obviously adds just another layer of stress… and was I stressed. There were days I wanted to throw the towel in, and move home; it felt like a safer option than living in immigration purgatory.
Since then, I've been grinding and was fortunately offered two more roles in the last week. I’m going to take one of them. Will be jumping onto a deal team at a midsizethat growth. Pay is awesome (all-in is a step down from MBA bankers) a cool team, lots of autonomy, and cash to deploy.
It’s tough out there, everyone knows it. The point is to stay hungry, humble, and never settle, even in the worst of times.