Feeling discouraged

Graduating in may 2021... non target but respected school... currently have 4 solid internships under my belt (2 in brokerage, 1 at reit, 1 with financial services firm)

Have been networking hard and nothing has come my way. I am legit loosing sleep every night. I have emailed 50+ small funds and applied to every analyst role at bigger shops.

Any advice from people who went through something similar?

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Comments (22)

Nov 5, 2020 - 9:29am

yepyepyep

Any advice from people who went through something similar?

Yes: Relax and just do the work.

Keep your head down and keep applying and networking, obviously, but relax. We just had a super contentious election. We're in the middle of a global pandemic. It's almost the end of the year. It is incredibly understandable that not all firms are focused on analyst hiring for Summer 2021 yet when they barely even know what Q1 2021 is going to look like. On top of all of that, only the biggest real estate companies hire that far ahead. Most are going to be looking for June 2021 hires in April or May of 2021. 

Keep blasting out cold emails, applying for jobs, setting up calls, following up - and it will come. Get your numbers up - 50 is way too small - and start considering roles, sectors, cities, etc. that you initially wouldn't have. 50 companies should be a bi-weekly target, or at the very least a monthly target, not a total target. 

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Nov 5, 2020 - 9:42am

Thanks for the feedback. Definitely makes me feel a bit better.

I will increase my networking and outreach efforts dramatically. With this being said, when it comes to following up.. do you recommend reaching out with questions regarding the current environment or?

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Nov 5, 2020 - 1:33pm

Were the brokerage shops in the likes of JLL, CBRE, etc?

Not trying to be a dick but if so, those shops are always giving out return offers for Analysts so I wouldn't be surprised if your resume is raising some eyebrows with not receiving return offers from 4 internships.

Most Helpful
Nov 5, 2020 - 12:28pm

@CRE got it. Hustle is the name of the game. Work harder. Fall in love with the process. Fall in love with the actual opportunity to network with bright individuals. Don't obsess over the ultimate goal rather change the paradigm so you're obsessed with the actual process of getting to the goal. Reread Linneman's book. Create a spreadsheet of all your contacts / companies. Figure out touch points with all of them in an authentic manner. Your time will come. The market is fickle right now so stay patient. Stay diligent and you'll get to where you want to go. To @CRE 's point - expand your target universe. You're super young and this is just a point in time. Best of luck

Nov 5, 2020 - 2:16pm

This.

Was very worried after not getting an internship the summer before junior year, and reading how everyone was able to get one on here kinda made me feel shitty. However, I kept networking and got an off cycle investment sales internship recently. 

  • Associate 2 in RE - Comm
Nov 5, 2020 - 1:31pm

Most important thing for me was consistent networking. Got some interviews? Great, still make new ins with other groups.

Got rejected from the firm you thought was the best fit? Tough pill to swallow but keep grinding. Hustle is the name of the game. Godspeed. 

Nov 5, 2020 - 1:56pm

Keep in mind that this is a unique market cycle time to say the least, so the normal pacing of opportunities is not really evident today. So, be flexible and open minded, you may want to explore jobs or roles you normally would not. An example would be working a workouts dept or special servicer or other role that will emerge as a result of the market cycle. Frankly, this is a good time to explore asset mgnt (and even prop mngt) as learning property operations in difficult times is a great skill for future investment and portfolio mngt. Appraisal/valuation is another option with good learning for a long-term investment/principal career. 

Overall, you may want to take a job you will only do for 1 or 2 years, you get a sort-of "free pass" for switching/jumping due to the market conditions. In sum, your "start" need not be as planned, lots of time to change and grow.   

Nov 5, 2020 - 3:33pm

Hey mate, i'm in the same spot as you also graduating in may 2021. I've been applying and networking for 7 months straight and things are starting to come my way only for the last 10 days. I also felt like everybody could land a job/internship when I will probably be homeless ahah. Ups and Downs keep up !

If you are here you know what to do to land a position so keep doing it and eventually it will pay off !

  • Analyst 2 in RE - Comm
Nov 5, 2020 - 4:33pm

Had a similar background to you when I was coming out and took me several months after graduating before securing a job. I applied to hundreds of jobs and was constantly networking. Don't count out leasing brokerage, appraisal, etc. I ended up starting in appraisal and now work at a top 50 PERE firm. Just be patient and keep applying to jobs and networking.

  • Analyst 2 in RE - Comm
Nov 5, 2020 - 5:56pm

I like to start the conversation on a lighter/more personal note rather than getting straight into career talk. When they ask how you are doing respond with something related to your interests to get the conversation started/flowing. For example, I am a big college football fan, so I'll start the convo off saying "I'm still recovering from my team's heartbreaking loss on Saturday" or "looking forward to the game this weekend". Hopefully they are a college football fan as well which can lead into a conversation about that and can be a good segway into where they went to college and so on. If you are not a sports fan, just start out with mentioning something you are interested in and hopefully they are interested in that as well or its something they can relate to. "My new skis/golf clubs just arrived, cant wait to try them out", "getting ready for my hunting trip this weekend" or whatever. Do some research on the person and you can hopefully find a mutual interest prior to the call that you can bring up at the beginning.

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