How are you all getting jobs?
I have been after the entry level real estate analyst position for about 5-6 months now. I have received no job offers, no formal interviews, and no help. I had no corporate internship experience in the field. Only experience I have is my family's development company that is not large enough for me to be employed under.
I graduated from a top 40 University in May (where I played football) and I will be attending Georgetown in the Spring due to no job (real estate masters).
I need advice, help and any guidance.
What market are you targeting?
I have been targeting the D.C. market due to being able to work and attend Georgetown at the same time.
Few things I have noticed:
1) Many companies will not want to hire someone who is going to school part time. They want someone with 100% committment
2) "Formal" job applications do not work. You are competing with hundreds of candidates, best to look for "off market jobs". Do this through networking.
3) Going back to school "due to no job" is a terrible idea.
My school background and job search struggle was similar, it took me 5 years and a shit ton of networking to get into REPE
I'm right there with you man. Hang in there. 4 months and counting here...I find that your network trumps all else.
Relentless and never-ending networking
I went to a target undergrad and finished with a 3.7 GPA, did 5 years of non-finance/non-real estate work, got a RE/finance-focused MBA from a semi-target, and it took me over 100 informational interviews over the course of my final 6 months of grad school to land an offer in REPE.
As @CRE said, you have to be relentless and never give up.
Been going for 5 months, I'm already in the industry though, just trying to transfer. I met with a very senior developer who mentioned that when he was looking to move firms, it took him over 9 months. RE jobs take a while to find.
Also, getting a job in CRE isn't just about applying online to a couple places a week, it's about meeting with a couple people a week.
consider taking a post grad internship
That's what I was thinking!
It's been tough for many of us man but I echo the sentiments above. Don't give up.
If you have not already, read through the "real estate job search - how are people doing" thread. It has a lot of information/stories/insights that you might find useful
I'm in a similar boat, been looking for that entry level role in CRE for about 3-4 months now. The major things I've learned: -Everyone, but especially people in CRE, absolutely loves to talk about themselves. Once you convince them to meet with you, ask about their careers, be genuinely interested and then follow that up with some variation of the question "what advice would you give to someone in my shoes looking to break into the industry?" Always ask them for 1-2 people they would suggest you connect with to close out the meeting. This one question has worked wonders for me, people love connecting you to their successful friends. It's allowed me to meet with a lot of the major players in my market. -Jobs are almost never posted online, and are almost always discovered through networking. I have an interview this week for an analyst position with an investment sales team. I found out about the position because I saw the managing director at a bar one night, introduced myself and walked away from the conversation with an interview. Try to know who the MD's are of the major shops in your city/market. I will admit, there was a lot of luck that floated my way for that to work out... -CRE Said it the very best.... Relentless and never ending networking. I've had 40-45 informal coffee/lunch/beer meetings with CRE folks, and I still don't have an official offer. I will not stop until I get a position, and while grad school at Georgetown will definitely help... There's nothing that substitutes a well written cold email or cold call to an old dude that wants to talk about all the money he's made and the property he owns...
Good luck, keep us updated
Took me about 70, between informal and formal interviews, to finally land one. Of course, when I landed one, I landed 3. Keep that grind up - you're going about it the right way.
I had a shit ton of calls and informational interviews in college too. Tons of voicemails with no response.
My first internship that got me started was a developer whose cell number I got from his front desk lady (she was definitely not supposed to be giving it out to rando college kids haha), and he just happened to pick up and when I told him my background/aspirations and asked him if he needed some help, he was basically like "yes I certainly do, let's have lunch".
Got next to nothing (besides contacts) out of 95% of my efforts and then one random dude I called out of the blue made it happen and became a close friend and mentor. Just goes to show it could be any single one of those attempts!
I 100% agree w. networking. Some of the best contacts that I've gotten have been contacts of my contacts. So definitely network w. as many people as you can, even if the person doesn't seem like they'd be able to help you. They may have someone to put you in touch with that will.
And as stated above, don't give up, be persistent. You never know when that next call / meeting / introduction will be "the one" that helps get you the job.
In terms of RE specifically, what are some of the best avenues to network? I imagine happy hours probably make the most sense, but what about various trade meetings like ULI/NAIOP, etc.?
Cold-calls and strong networking. You need to be able to sell yourself, and be able to build relationships.
Any positions non-quantitative, you need to initiate. Making friends and knowing people in key sectors will land you that job.
Good luck.
Don't give up, I know that seems obvious, but right when you think you should be choosing another career path, it'll happen. I spent my entire last year in undergrad sending emails and connecting with people in one specific regional bank that had strong ties to my university. I had 6 interviews with that firm spanning across multiple departments, each one more embarrassing than the last. I graduated, unemployed, and studied for and took the GMAT "due to no job". However, I put off enrolling as I was told my multiple people that an MBA with no FT work experience will position you very poorly in the market (granted, my MBA would not have been from Georgetown). Finally, after 6 months, an entry-level analyst position opened up for me and they sought me out directly to fill it. Be specific in what you want to do, and where you want to do it (not location, but firm-wise). Be strategic. You don't have to work at a BB to be successful in this industry.
Forgot to mention: I know you're struggling to even get to this point, but I began taking interview classes a few months out of college with a communications coach. Definitely helped with my speaking capabilities and taught me some skills I will be able to use in the long-term. You might want to look into that if you feel like you perform poorly face-to-face, like I do.
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