POST MBA REAL ESTATE JOBS
First time poster here. Wanted to see if you guys could give me some advice on post MBA real estate gigs.
Background: I have spent 4 years at a major bank working in Real Estate Finance. Experience includes distressed mortgage workout as well as CMBS origination/underwriting where I have created hundreds of asset level models. This fall I will enroll at a top 10 MBA program that has a strong real estate program. Following MBA school, I see my options to be as follows:
1st Choice - Acquisitions for REPE, REIT, Institutional Investor: At the end of the day, this is what I want to do. I think my skill set fits it, as my focus has been on asset level analysis and these companies generally invest at that level. However, these shops are usually light on employees and thus the job market will be very tight. What makes the decision more difficult is to have a shot at these positions, I will have to bypass recruiting for my second choice, Real Estate I-banking. Another factor is the wide range in pay level. I don't know from experience but I get the impression that all REPE groups pay well, and only some REITS/Investors do.
2nd Choice – Real Estate I-banking: Would much prefer my first choice over this one, but it appears that many companies see this as a pre-req for REPE despite the focus on company level analysis vs. asset level. The advantage for this choice is that I know that there will be jobs here. Banks hire associates for these jobs every year and pay is very strong, but comes with a much worse lifestyle.
Can anyone speak to transitioning from CMBS/Workout to REPE/REIT jobs? Would I be competitive for such jobs or would I be better served to gut it out in REIB for a couple of years and then transition. Any advice will be much appreciated.