Am I bugging?
I recently interviewed with a firm in which I feel like I MIGHT have been discriminated against.
Quick background, I’m a finishing up my first year at a MF, don't rlly like the crazy hours any longer and was looking to jump ship to a shop that’s still reputable but a bit more lax on hours. I’ve been interviewing with a few (4) different firms and have made it to at least the modeling test on all besides one. I’m a black dude, never cried diversity but I feel like something is definitely off with this firm, and of course it’s the one I wanted the most. I passed the phone screen and was invited to the next round in person. Felt I did amazingly well in the in-person round, but was told I didn’t make it to the modeling portion of the interview process. Maybe I fucked up somewhere, but I did some digging and this firm has 3/300 minority employees across the whole country, and all are women. Am I bugging for thinking that’s why I didn’t make the cut to next round or does this type of thinking still exist within our industry?
Maybe, but impossible to prove. And even if it was the case, you wouldn’t want to be there in the first place
Couldn’t agree more.
I’m a white guy interviewing for REPE jobs from the sellside and so far I have a hit rate of one job offer from 20 processes. Some I made it to the end and some I was dinged first round.
So, idk. Does discrimination exist? Absolutely. Is REPE a hyper competitive field? Also yes. It’s hard to know which reason this falls into
Yes it’s definitely tough out there. Thank you for sharing your perspective, always appreciated
Honestly try to get a job at one of the lifecos to avoid this!
Discrimination definitely still exists in this industry. That said, perhaps you simply didn't pass the modeling test. Hard to say really. Just keep grinding and know that if the firm does have that kind of culture, it probably isn't somewhere you would want to work in the first place.
1 sue for millions
2 broadcast the process everywhere you possibly can including building a big social media following
3 do a 180 to some other RE product type where you won't have to worry about your reputation within the hallowed halls of high finance
4 raise money from your new audience and build a massive portfolio and a new life
I mean if this firm is literally 297 white men and 3 white women, I would be shocked.
I have definitely seen all white male teams, but it’s generally smaller groups (like 10 people). A firm of that scale being 99% white men is definitely odd
297 white men/women, 3 minority women
And I’m sure the women work in asset management or HR. Welcome to real estate in Amerikkka. This prevalent in real estate. Get used to it. I have literally felt like this way at least dozen times in my career.
I wouldn’t dwell on this too much, because it probably wouldn’t have been the right fit anyway. It’s a numbers game. Keep knocking. The company that is right for you will let you in!
So you’re saying women don’t have autonomy and didn’t choose to pursue those AM and HR roles? Sounds like you’re part of the problem man
Quit thinking of women as pawns - it’s offensive
Read the whole thread. He said there was a low percentage of women at the firm. All I’m saying is through my research more often than not minorities and specifically minority women are in HR and asset management. Hell no they’re not pawns but more often than not that’s the position that they been caste into. Sorry the data offends you. Your denial of the data that’s out there is truly offensive. And that’s the problem! As a black man that has struggled to get a footing in real estate at times, I totally sympathize with the poster. But with anything if you really want to get it you have to realize the truth and push through it!
As a female industrial broker, I can say these comments are not wrong. I work at a top three firm, and was told when I first started years ago, “we support women, our asset management team has great female managers”. They also encouraged me to do MF. No one encouraged my desire to only do industrial...but surprise, here I am.
Yes, those women worked their asses off and are proud to be asset managers. The problem is you have to step over those around you, and above you, to do what you want.
At the end of the day, I am glad to say my clients don’t care that I am a woman. Nor do I ever feel treated differently than my male colleagues by clients.
It Is that invisible line that is the problem. Once you’ve crossed it, no one cares what your race, gender, or ethnicity is. They care that you are good, that you are the best. But you have to cross that line. It does exist, and there are many gatekeepers. But once you cross it, those gatekeepers become your ally’s. They have no choice. Give them no choice.
$$
REPE, on average, takes much less intellectual horsepower than traditional private equity or other investing professions. For this reason, firms often prioritize fit / cultural compatibility over raw talent.
This can often come across as discrimination to a candidate's perspective. I am a minority and felt that way a couple times when I was interviewing in the Bay Area. Ultimately, though, I felt it was more a cultural compatibility issue than race-related. I'm from the East Coast and the firm's entire team was laidback West Coast white dudes. Conversely, I interviewed for a NYC investment firm and had a perfect cultural match with the preppy, intense white people.
Welcome to real estate, if you're black they'll only accept you if you're an athlete or white washed. Sorry to be cynical but it is what it is
You’re not bugging, minorities feel this their whole life in America. Just try to see the good in people, that’s the only way you can get by without being a jaded piece of shit
On a net basis right now, being a minority is a plus, not a minus in the job search.
For every 1 small private firm that is not "diverse" (or gatekeeps based off the "old school boys" network) there are 10 that are looking to push diversity on their investments team as a talking point to investors.
I wouldn't dwell on it and move on.
If anything, being a white male is harder than being a minority/women when it comes to finding a job in real estate right now.
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