When should a rising senior start applying for full time jobs?
Hello all, I have been a long term lurker on the forum but just recently decided to create an account. I am about to be a senior in undergrad majoring in real estate finance and was curious when it would be acceptable to start applying for full time financial analyst positions at companies like JLL and CBRE. I have used the search function and found information regarding IB and PE, but couldn't really find much regarding real estate positions. Is there a "recruiting season" like the aforementioned IB and PE or do you sort of apply whenever and explain that you are still in undergrad and graduating in May. Any help would be greatly appreciated and I'm sure this would be helpful to all seniors in the forum now and for years to come.
Thanks!
There is and there isn't a recruiting season. Some much more corporate companies hire on an annual basis. You will want to keep an eye on when those firms require applications by and make sure you meet those deadlines. Other companies are 100% as-needed, but most of the time are too busy to think much about that need. It's something they recognize, but don't focus on.
Either way, you should focus less on when you should "apply" and more on cultivating relationships along the way. You should be networking now. Get coffee with people, get lunch with people, ask them who else you should meet with, etc. Make those relationships now so that 6 months from now, 8 months from now you can make the ask and get the job.
Sounds like you're on the right path. The key here is to stay in touch so that you stay on your radar, I can't tell you how many kids I talk to that reach out and then don't follow up after I talk to them for 15-30 minutes... it's bananas.
On your last point, you don't ever need to directly ask for someone (who you don't know SUPER well) to "help you get hired". They have two eyes and a brain, they know you need and want a job; what they're vetting is are you worth the effort to help. I'm not going to send my friends some schmuck who doesn't do basic prep work for a meeting and who comes across poorly. If you come across well, people will refer you and keep you in mind... trust me, they know you are trying to get hired by them or someone they know.
Play it by ear. Maybe it's an article about something the contact/the contact's company is doing that you find impressive. Maybe you find out that the two of you share something in common - a hobby, or an alma mater. Maybe 6 months go by and you just reach out to grab coffee again because you enjoyed the last time.
People want to hire people they can stand to be around. This is essentially just making friends - albeit slightly more professional than sending each other instagram memes.
As a recent RE Finance graduate who dealt with this exact situation, I feel as if I have a relevant perspective. Personally, I was hung up on the notion of getting my dream job by January and was kicking myself when it didn’t happen. I landed my current gig the week before graduation and I couldn’t be happier with it. In hindsight, I realized that I only wanted to secure a job so I could say I had one which is incredibly stupid.
The fact of the matter is that CRE is completely different from other finance related industries. Some top tier students from my RE classes are just now landing amazing jobs at REIT’s, REPE firms and brokerages. It’s just about being patient while working your ass off for any opportunities that come along.
Everything that was mentioned above is perfect advice. To elaborate a little more on making “the ask” for a job, I would suggest reaching out for office visits even if it’s phrased as an informational interview. This will not only give you the opportunity to meet the team and get a better feel for the position, but it will also give you the chance to ask about openings and when to expect them.
And as someone said before, network, network, network... by the time you see most of these job openings online, the position is already filled. Meet with these groups in person, bring a sample of your work in (pro forma, case study etc.), show where you can add value, follow up strong and you will be the first person they think of when they are looking to hire.
Good luck !