PRE MBA IB back to IB

Your pre-MBA experience in real estate acquisitions and LMM REIB provides a strong foundation for both BB/EB REIB summer associate roles and REPE summer associate/post-MBA investing roles. Here's how it breaks down:

1. BB/EB IB Summer Associate Roles (REIB Focus):

• Advantage: Your prior REIB experience will make you a standout candidate for REIB summer associate roles at BB/EB banks. Banks value candidates with direct, relevant experience, and your background demonstrates both technical skills and industry knowledge.
• Competitiveness: Compared to the typical MBA associate candidate, your prior IB experience gives you a significant edge. Many MBA candidates lack direct IB experience, so your ability to hit the ground running will be highly attractive to recruiters.
• Key Consideration: Networking will still be crucial, even with your experience. Use your time before HBS to build relationships with REIB teams at BB/EB platforms.

2. REPE Summer Associate/Post-MBA Investing Roles:

• Advantage: Your combination of real estate acquisitions and REIB experience is highly relevant for REPE recruiting. Firms often look for candidates with a mix of transactional experience (from IB) and asset-level understanding (from acquisitions).
• Competitiveness: While prior IB experience is not a strict requirement for REPE roles, it does make you more competitive, especially for larger REPE firms or megafunds. Your ability to model, analyze deals, and understand the nuances of real estate transactions will set you apart.
• Key Consideration: REPE recruiting is highly competitive, and many firms prioritize candidates with pre-MBA REPE experience. However, your background positions you well, particularly if you target firms that value a blend of acquisitions and IB experience.

3. How Much Does Prior IB Experience Matter for REPE Recruiting?

• For Larger REPE Firms: Prior IB experience, especially in REIB, is often viewed favorably as it demonstrates strong analytical and transactional skills. It can make you more competitive than candidates without IB or REPE backgrounds.
• For Smaller/Mid-Sized REPE Firms: These firms may place more emphasis on direct real estate experience (e.g., acquisitions) rather than IB pedigree. Your acquisitions background will be particularly valuable here.

Recommendations:

• Before HBS: Continue recruiting for REPE roles or larger REIB platforms. Securing a role at a larger REIB platform could further enhance your profile for post-MBA recruiting.
• During HBS: Leverage the MBA to network aggressively with both REIB and REPE firms. Participate in relevant clubs, case competitions, and internships to strengthen your candidacy.
• Target Firms Strategically: Focus on REPE firms that value a mix of acquisitions and IB experience, as well as BB/EB REIB teams that align with your background.

Your unique combination of experience positions you well for both paths, and the MBA will serve as a strong hedge and networking platform to maximize your opportunities.

Sources: Which Fall 2020 MSRE program should I pursue to build towards a REPE or REIB career?, REPE Megafund Asset Management Comp, Career Advice: Family Office (RE Developer) --> MBA --> REPE, Military to RE via MBA, Real Estate Investment Banking