I'm currently a junior at a nontarget, majoring in finance with a minor in RE. First off, let me clarify that my ideal career in the future would be something to do with RE finance (REPE, REIB, Acquisitions, etc.) I have pretty much no experience in finance in terms of relevant internships, so I'm trying to decide what I should be pursuing at this time. I have an offer from a BB doing ops, but I doubt that any of it would be relevant to my RE career goals. Would I be better off aiming for a less-structured internship at a boutique RE investment firm? I feel like the BB name would be helpful, but I dont know if the RE industry would value the big name over somewhat-more-relevant experience from a boutique. What do you guys think?
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That's tough to say. I'm of the opinion that relevant experience is better than a name. If you were going into an IB role I might say the BB is better, but since its just ops I'd say go for a MM or boutique were you can get experience. You'd probably be happier in the latter anyways. Good luck.
one in hand is better than 2 in the bush - if you have a backup incase boutique search falls short, then go ahead. If not, better safe than sorry...
appreciate the input guys. anyone else have any opinions?
I am senior in a top 5 Real Estate Undergrad program and I have had three internships in the field. I can tell you that if you want to get into Acquisitions, fit and experience are critical. If I could do it over again I would network as much as possible, find a mentor and work for free at a shop where I agreed with their philosophy. For example if you are interested in value-add plays in the office sector then you would look for firms which specialize in that. I got all of my internships through career fairs and at the time I wanted to get paid, but looking back it is the experience, the people you meet, and the deals you work on that matters.
Is there a ranking for undergraduate real estate programs?
Yes. Haven't looked at the most recent one but usually it is Wharton, Wisconsin, USC, and Connecticut if I am not mistaken.
http://colleges.usnews.rankingsandreviews.com/best-colleges/rankings/bu…
They each have an individual major in real estate? I know they all have big real estate departments.
You are correct. I know that Wisconsin and UConn have individual majors. USC and UPenn might just be a concentration, not 100% sure however.
I would also suggest the boutique route. There is always a focus on 'why real estate' when you are talking with anyone about getting into the industry. Having related experience is important because even if its not from the exact part of the industry that you want to be in, at least you can point to an experience and say 'I tried this and although I would prefer to be in a different aspect of the business, it taught me about whats out there and reaffirmed that I want to do real estate.' Coming from ops all youll be able to say is 'I did this and although it was at a brand name company, I learned nothing about real estate.'
Couldn't agree more. At some of these boutique shops you might get to see a lot of the business. Acquisitions, Asset Management, Ops, Property Management (if they are vertically integrated), and Leasing. After doing something like this you will not only know if you want to get into RE but more specifically which discipline you prefer.
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