Long time listener first time caller.
I am currently a Financial Analyst with a Fortune 500 retail company. Part of my job is building models to support all new store openings. More about store CF generation than RE heavy lifting but it is tangentially connected to RE. I have an offer to go to another firm (not a true RE firm) as a Real Estate Analyst; role is around their corporate facilities. Modelling the impact of signing leases / acquiring corp properties in various locations. Much more into the details of leases, accounting methods, etc.
My current firm made a big counter to keep me (35% raise, RE Analyst role is 25% raise) with a promo to Sr Financial Analyst thrown in. Promotion definitely is attractive since I am thinking MBA, gotta imagine Analyst -> Sr looks better than Analyst -> RE Analyst.
My goal is to go to a top MBA (maybe MSRE) -> RE buy side. A big goal to be sure.
Sat down, gripped and ripped a practice GMAT and scored a 720. I am optimistic with studying & a tutor I can boost that to a really good score…for whatever reason I have always done well on standardized tests, so that should hopefully not be an issue.
Just wanted a general consensus on:
A. Is REPE/Developer a realistic possibility post-MBA?
B. Will the RE Analyst job make it a significantly easier sell to break into the buy side by demonstrating interest and ability in RE? Or would the promotion look better, given that I can weaver the RE aspects of my current role into my story?
Thank you!
I guess the question is more prestigious MBA or more relevant work experience.
I think a firm that values you so highly is worth sticking with. I would graciously accept the promotion and let them know you are interested in real estate oriented work and ask that you be staffed on those types of projects when possible.
What would the rest of your MBA application look like? If you are likely going to a good program anyway that should factor into the decision.
A. Sure. You've shown interest in the industry already. If you go the MBA route, take some RE courses. If you go the MRED route, you're a shoo-in with that gmat score range already. Friend of mine got into a top school for MSRE/MRED with a 550 hah.
B. I'm of the opinion that your story means more than your title. Real estate people mostly care that you're actually interested in real estate, not that you're using it as a backup. Would the new position look better? Probably a little. Is it worth giving up a bigger raise when you're already looking at grad school? Nah. You'll be "repositioning" yourself with a MBA or MRED soon enough. Make the money now and join ULI or something to show interest in the industry.
A lot of this comes down to your timeline too. Are you applying to grad school this year? Next year? Five years from now? You options kind of depend on some of this stuff too.
A. Most definitely. With your current position, a MSRED would probably make you a dream candidate for one of the big retail-focused REITs/developers (think Federal, Simon Property, GGP, Westfield, Macerich, local developers, etc.)
If you could get your current firm to put you on RE focused projects the large majority of time I think that's probably your best option.
You might consider a third option of trying to find a pure real estate job before you go back to school....
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