Does anyone have any experience interviewing for an investment analyst position at TIAA CREF Global Real Estate and Prudential Real Estate Investors? What to expect? Will the interviews be technical? And if so, how technical?
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Both of them have two levels of analyst hires. They have these 3 year analyst programs for new grads where they bring them in and they rotate around to various groups. After the 3 years, then you either have to promote out (usually to associate), or you are gone.
Then there is the normal analyst that are people with experience that are hired into a specific group and stay there permanently. They tend to be on a slightly quicker path from analyst to associate (usually around 2 years), but even if they don't make it within 3 years, they aren't let go like the other analyst group.
if you are in the first group, the interviews are mostly fit/behavioral. There might be a technical question or two to try and gauge your knowledge level, but there won't be an ARGUS test or anything like that.
If this is a more experienced analyst role, then there is a higher chance of there being some more technical questions and potentially an ARGUS/Excel test. If the group you are interviewing with is AM, then probably not, but if it is originations/acquisitions, then the chances are higher.
thank you!
last question. How technical would the technicals possibly be? Walk them through a DCF? Accounting? Basic information on leases and different lease types?
Thank you!
If this is for a permanent analyst spot, then I would say basic valuation/DCF, CF creation/analysis/basic ratios, asset classes/lease types. Basically enough to know you aren't bullshitting your resume and they aren't going to spend the first 6 months teaching you how to calculate NOI, LTV, ROI, or occupancy costs.
I would say the general benchmark is basically a +-2nd year analyst. If you interned somewhere and then spent a year somewhere else working in RE, then you will probably be fine. Depending on the group it is for, you might be asked to ARGUS/Excel model something (originations/acquisitions) and answer some questions about that.
For the undergrad analyst program, it is probably the same questions, but the expectation of "correct" answers is just lower. For the undergrads it is more about showing you have an interest in RE and didn't stumble into the interview by mistake.
As a side note: From what I hear, Pru's undergrad analyst program is pretty good and was modeled after their associate program (for grad students). TIAA's program is on the newer side and their program isn't fleshed out to the same extent. Really though, both are institional investors with immense access to capital (TIAA appears to be the more conservative of the two), so it isn't like being at either shop is going to be detrimental to your career.
Thank you so much!
Interviewed with PREI, very basic and mostly fit. Asked about resume and stuff I worked on. No technicals really. Very slow process
Thank you @Jimbousc!
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