Curious which large/interesting/institutional real estate companies advertise summer associate/full-time associate hiring for MBA candidates? Obviously these are few and far between and the question is broad, but I'm thinking something along the lines of Greystar's MBA Summer Associate program, or CBRE's Global Workplace Solutions Summer Associate program (although somewhat less so). Could apply to banks or even large corporates hiring MBAs straight into corp re roles. I am starting an MBA program this fall coming from a REPE/Capital Markets background, and while I am planning on making the jump to an unrelated industry, I wanted to explore the existence of these programs as a back-up or an option to explore if I get cold feet that would require minimal preparation relatively speaking. Interested to see what you guys come up with!
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I made that mistake.
Join ULI or NAIOP and start emailing executives about internship right now. Don't wait till next summer.
Email them directly about internships or just set up informational interviews and see where things go?
I know that many "large", "interesting????" and certainly "institutional" real estate companies offer internships but not always in formalized 'summer' programs or via the on-campus methods of recruiting like large banks use.
Instead, they just post the jobs like any other job (so it goes their website, linkedin, indeed, etc.) and maybe send to campus job boards if they have that connection. Thus, your search maybe different than you are thinking. For my firm, each regional office posts openings for interns as they desire, it is not nationalized or systematized.
I would say networking now is a super smart move, some firms can hire interns without formal or complex searches as they are deemed temporary roles and thus not subject to the full HR processes. Thus, an MD/EVP could literally snap his or her fingers and hire you as an intern.
Coming from the industry, I'm very familiar with traditional hiring practices in RE, but maybe didn't word my question clearly. I was surprised to see that Greystar has a formalized MBA hiring process, and as I will be spending an inordinate amount of time preparing/recruiting/interviewing for a specific career change (consulting), I'm interested in the existence of some of these programs as a streamlined way to set up some potential opportunities as contingencies. I'll definitely be networking in industry as well but it will be quite targeted as I am pretty sold on the industry lateral.
Got it, I think you should look for "campus" recruiting programs, that is how most operate. Frankly, it's hit or miss in this industry. And some firms may postpone or 'cancel' the program, at least temporarily, due to COVID. Still, I think the majority of firms hire based on needs of business units/teams/regional offices, so organized campus recruiting is just less effective.
The obvious exception is real estate arms of very large companies (like PGIM, USAA for example), They have OCR for MBAs conducted by general HR, the real estate teams can utilize as needed or desired.
I respect your honesty and recommend never saying BS statements like "Interested to see what you guys come up with!" ever again.
Great question and I was wondering the same. I've had some informational interviews already but the 3 companies all have structured OCR with my school.
I think I will start pinging people through my program that are with companies I'm interested in to get on their radar.
Interested to learn more about if any firms/ people fully committed to B school for fall have heard of companies steering away from hiring due to COVID for summer internships?
I was recently accepted into a MBA program in southeast with strong reputation for RE and have not yet committed, although I have to decide in next 48 hours. Difficult decision given most programs will be predominantly online in Fall, and I know OCR is crucial for certain paths.
U of Miami? From what I gather they help you obtain internships during the summers
Not U of Miami. Farther north. Considered to be very good school for RE based on WSO and stats.
Curious if you ended up committing to the MBA?
I did end up committing to b-school. Thought current environment warranted so. Was informed that recruiting landscape has not changed except maybe on the brokerage side of the business.
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