Big decision, please help
hey y'all,
Have a massive decision to make and wanted to reach out to the WSO real estate community for some help. I'm picking between 2 things for full-time/summer (I'm a senior):
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Fast growing REPE in a decent city - without giving up too much info its a solid gig right out of undergrad. They invest across the entire risk spectrum, pretty much a platform where I could potentially do whatever I want. Pay is not great at all and they will grind the shit out of me, however.
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Eastdil summer gig - We all know Eastdil. Pros: one of the best all-round places to get exposure in RE, great comp, can do PE after if I want. Cons: its a summer gig, doesn't guarantee full time and I could end up with nothing with no return (plus I'd have to take another year in school or get a job for a year before FT starts)
Any advice would be great! Thanks so much
Eastdil
.
Take the full time job. Eastdil is offering you a summer gig, and chances are it’s not going to be full time until the year after (if you get an offer). Assuming you’re graduating, take the full time gig.
Eastdil by far.
Early in your career, brand name means everything on your resume. Given the REPE pay sucks and long hours as you said, you will probably look for an out by the 6 month mark. I don’t know how brand name they are, but it could be harder than you think to find a new gig.
With Eastdil on your resume and having solid interview skills, you will have no trouble finding a gig afterwards.
Can you PM me? Got a couple more specific questions
Take the bird in hand (the only one that is actually a job).
Full time work experience is so much more valuable than any internship. You don’t make money your first year out of school.
1) is the obvious choice and I’m guessing people who say otherwise didn’t read the full post or don’t understand the value of working across the risk spectrum on the buyside straight out of school. Sell-side experience is not nearly as valuable to the buyside as it once was (as someone who came from sellside Re)
Hey can you PM me?
Eastdil. BUT find out first if they will give you a formal offer after the summer internship if you do well /they like you. Or will they make you and all other interns apply again for a full time?
If they say that they will make you apply after the summer, take the other one.
GS /MS and others don’t make you apply…they have 3 months to interview you and if they like you, they give you an offer.
So, first an observation... when you setup a question as "unknown firm" vs. "well known firm" you are going to get a lot of votes for "well known" but nobody (myself included) is making a real solid recommendation as not really enough facts (but you get wisdom of the WSO randos... so pick your poison!).
Personally, I would always advise FT vs. PT/internship when at graduation, and I guess if you have some decent confidence that the internship can legit become FT, then you can weigh the decision a bit more equally (an interesting risk v. reward one for sure).
But, not sure what "pay is not great at all" means, so hard evaluate the FT offer. If it is "legit" meaning a legit firm (meaning does real businesses, not that it needs to be known on WSO or some fancy ranking list), and the pay is "legit" (like in some reasonable state of market pay), and you WANT this job, like the firm/people, then I don't why to say not to take it. Eastdil will grind the shit out of you, but alas, brokerage can pay better faster (it is "sellside" afterall). And I do agree that Eastdil is a great name, and arguably one of the best jobs you can get direct from college, a simple summer internship (if that's all it ends up being), won't bump your resume all that much (imho).
Personally, I would talk to the manager person at Eastdil who you think you will be working for and explain the situation, ask directly.... "Is your intent/ability/need to hire from this intern class and will you keep me on after the internship if you want/like me (meaning no gap, like see you next fall '23)?". In fairness, they may give you a solid "we make no promises and don't know" kind of answer (if they are HR/legal smart, that is what they will do). BUT, if they start to sell you on it, and basically indicate we need people.... you could TRY to leverage the other offer for a FT offer at Eastdil.... is it likely..... NO, but not impossible. Either way, get more info from them, then you can better decide!
Wow thanks for the detail of your response, could I PM you with some more specific questions?
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