REIB from undergrad?
How would one typically break into a REIB group from undergrad? Currently a senior at a target school with real estate experience but no banking on my resume. Ideally, I'd get into REIB and then transition into real estate acquisitions later into my career, but since I don't have IB experience how could I break into a REIB group?
Honestly, that’s a great plan. On the other hand, REIB is a high barrier to entry position just because if the competition and lack of positions for everyone. I’ve only seen someone able to snag a 1st year REIB position through an internship. From the internship or summer analyst role, they’ll convert that to a FT offer. I’ve never seen someone get a 1st year position in IB without doing the internship in the same company. Not saying it does not happen but I’ve never seen it.
Clearly any form of IB job is hyper competitive right out of UG, goes without saying. Still, real estate is a pretty wide field of investor types and styles and thus sizes.... so, if you can get a job in REIB at a smaller (aka so called 'low tier') or even regional IB shop, you still totally have pathways into institutional real estate investment. Real estate lending within commercial banking is also a pathway open to people right out of UG. There is also the whole world of debt/equity placement (i.e. capital markets brokerage) and of course investment sales real estate brokerage. Top tier landlord representation can be a pathway (more to asset mngt than acquisitions or cap markets). So, really, just get some relevant experience in real estate or closely related as best you can. Even appraisal/valuation can be a legit pathway.
Play the long-game, you can always jump up in a few years or go back to grad school. Don't fixate just on REIB (at least at BB shops), the IB forum will mislead the hell out of you in this regard.
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