Offer from PWC Real Estate Corporate Finance

Hi all,

I am 28 years old, finished my master degree in finance 2 years ago and have been working for a small start up, not relevant in Real Estate.

I have average grades from a non degree university and have struggled with my job search for a year. I have primarily been looking for jobs within Investment Banking and Asset Management. Lack of relevant experience, poor grades etc. have got me only a few interviews so far, where they found candidates with relevant experience. Luckily I am very good social and usually I good VERY good in interviews and reasoning tests.

I dream about moving abroad - London, New York, Singapore etc. but it is almost impossible to get an interview without relevant experience.

Until a few months ago I haven't thought about Real Estate but then a friend of mine referred me to the position and I got the first interview.

So my question: Is Real Estate Corporate Finance at PWC a great career step for a guy with poor grades, non-degree and no Corporate Finance experience?

Salary is lower and I lose my dream of moving abroad (at least a couple of years), but I don't like my current job. No opportunities for growth, but a decent salary.

Most important for me is a lot of opportunities later on, challenges and dynamic environment with possibilities to build a solid network? Is Real Estate as good as Investment Banking, Asset Management etc. or is it easy and non-prestigious?

Please help me with any suggestions - have to decide within a few days.

Cheers,
Jones

 
Best Response

Not sure about the specific corporate finance PWC offering, but from what I've been told a lot of the managers are ex-brokers and other RE managers, and they apparently do a lot of different work beyond real estate valuation, like MBS valuation and corporate consulting (think advising firms on how many cubicles to put in, location acquisition, etc.). Could be a good way to get exposed to different facets of RE.

Quant (ˈkwänt) n: An expert, someone who knows more and more about less and less until they know everything about nothing.
 

In Toronto at least, I don't know too much about it, but it seems like KPMG and EY's real estate team do some pretty interesting work, as for PwC it seems like mostly valuation work, and Deloitte same thing and they seem big on consulting public sector clients on their real estate. I think it would depend on lot on the office.

PwC and Deloitte at least I believe would also assist their audit teams with verifying valuations for IFRS reporting?

 

Some of the top national firms have large Real Estate practices as well. I read their job descriptions and they generally go into detail with what you would expect to experience as part of the team:

Cost segregation studies, pricing allocation, valuation, tax compliance, lease consulting.

These are all valuable skillsets from what I can tell if you want to pursue Managerial/Executive roles in the industry. And that's just from the Audit side.

The PWC position is in Advisory so your work would likely be more related to investments and acquisitions, etc. so you would want to at minimum pursue something like a CFA if you want to climb the ranks there.

 

Thank you for your replies.

I think I will go for the job. At least it is much better than my current job (small, unknown and national company with limited possibilities) and then I will try to see which opportunities that will arise to move to London, NY, Singapore etc.

 

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