WSO,
I currently work in a sales capacity at a large Investment Management / Mutual Fund company. I am about to be promoted to an external wholesaler which would be a nice bump in pay and lifestyle.
I am hoping to get my mba and transition into a strong REPE or RE acquisitions job. Assuming I go to a T15 - T20 MBA program is this a reasonable career change? It seems that prior real estate experience is highly preferred for post MBA RE jobs. Should I work in and RE IB group for a few years before moving over? Is that a better way to go about this?
My interest in real estate has grown after I recently flipped a property here in TX and we have a REIT fund that is quite strong so as part of my job I end up speaking to and following the industry quite closely. I figure my relationship building skills would be transferable to the RE world as well as my capital raising ability.
I figure I want to end up on the west coast. So UCLA, Haas, Marshall, or McCombs? Probably not there in stats for GSB.
Full disclosure: I am at one of the T15-20 RE MBA programs you mentioned above now, and considered REIB for a short while during my first year.
REPE and acquisitions gigs are the most sought after coming out of b-school. It would be a tough move but not impossible. If you're not dead set on BX or the other megafund shops, you could surely land yourself a nice gig at a regional firm. If you have a brand name firm on your resume now, and are strong with underwriting/modeling, your chances would improve. REIB (other than Eastdil) is very different than REPE as you are essentially the capital markets shop for REIT's and COMPANIES....REPE is where you are 99% of the time looking at asset level deals only (and sometimes investments in RE companies too if you're at a large shop who does this). REPE shops recruit out of IB ANALYST programs for the most part, and I was told early on that making the jump to REPE after REIB post MBA would be like swimming up a river. It can be done, and most easily if you have friends that work in REPE firms. Your experience sounds as though you could target a summer gig/full time in institutional real estate investment (or REPE) and I was told to just go for it rather than REIB if I knew I 100% wanted to work with buildings as opposed to companies (which REIB strictly does). Hope this helps, feel free to PM for more info.
I'm a first year on the balance sheet lending side. I know i'll have to make a decision in about two-three years whether to stay on the lending side (as I'll be a relationship manager) long term or transition across to REPE or development. I've always been driven towards that side and pretty much everyone else is.
Now, I know for the region I'd like to settle down into, a lot of the executives and management are Marshall MBA/MSRE/MRED guys.
From having experience on the lending side, would it be a little pointless to go pursue a MBA to transition? Is having experience on one side of the table worth enough to forego the degree? Or will it be necessary potential to make the transition if I so choose?
You mention REIB outside of Eastdil as distinctly different then REPE, does working at Eastdil post-mba open more opportunities if you are interested in moving into REPE?
I couldn't tell you if it's better or worse than a bulge bracket but you will be working on asset level deals...and interacting with top REPE firms and developers looking to buy/sell/raise equity or debt.
Eligendi perspiciatis ea totam et magni ipsa debitis. Aliquam eos quis voluptatem voluptates eaque voluptas unde dolores. Et consequatur voluptas autem vel aut vel quas aliquid.
Aut magni vel est et sed et amet. Ipsam fugiat non molestiae eum facilis. Cupiditate a ducimus quasi maxime quas quidem. Qui qui fugiat magni voluptatem ut illo perferendis. Architecto aut alias molestias soluta dicta nam. Alias maiores in quidem velit deserunt quam sint et. Alias est velit corporis.
Quasi officia rerum iure. Consequatur et sed incidunt atque explicabo eligendi dolorem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...