So I have a pretty basic questionthat I've been pondering that I think some of the WSO members on here could answer.
I just landed a job at a major retail REIT as a mgmt trainee. They hire 3-4 of us every year and typically rotate us through departments and advance us through upper level roles quickly.
My firm mostly hires target school kids fresh from UG but I'm a non target. 3.8 GPA in finance with a nice list of leadership activities and whatnot. Honors student and I completed an urban econ thesis on land use policy (econ minor).
I interned at a family shop focusing on acquisitions in new england before I graduated. I'd ideally like to be in an acquisitions or development role after my traineeship but I think I might get stuck in property mgmt.
I start at a base of 55k plus furnished downtown housing and a company car plus bonus. This seems like a generous comp package to me for my property mgmt focus. They basically will be moving me all over the country to learn the asset mgmt models for our different geographical regions for the length of the traineeship.
After that time is over I don't want to be stuck as a pm director but it seems that is the likely outcome . do I have any edit opps other than an MBA/msre here?
I'll be paid well here and I won't have super tough hours after my traineeship is over, but quite frankly I feel that I'm cut out for more stimulating work.
I'd really appreciate any suggestions and input you guys have.
Thanks!
That is kind of a crappy deal. Maybe I'm being harsh in my assessment, but it sounds like they pitch this program to student candidates as a possible career booster so that they can push some smart people into property management jobs that they would normally scoff at. Having said that, if you've gone through the rotation and have spent a month and a half in Asset Management or something like that, you can put this major REIT on your resume and probably find something better.
No you're totally on point with that comment.
It was really my only option other than going back to that family shop ( very lean maybe 12 employees), making less and living in a lame place. I got interviews for a few consulting gigs and large RE development firms but ended up not getting the jobs.
I was thinking my best shot would be to try an internal move to get involved with development while I'm there. I have a finance degree and experience in acquisitions and could also maybe leverage that into a transactions role. But if not, should I be planning on getting an MBA as my primary exit strategy?
How do I go about trying to gain exposure in departments other than my own while I'm there?
I really appreciate your feedback.
Agreed, I think it's possible to get out of PM esp. if you were at a top reit management program. I got out of property management at a non-name place and am in acquisitions now, just better to get out sooner than later imho.
Thanks for the feedback prospie, I'll be networking my ass off from day one ( which is next week).
Jimbo how did you make the move and how long did it take you? What was your background heading into your pm role?
shoot me a PM and i'll give you the low down.
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