Post-MBA to REPE
I'm currently a Big 4 consultant with around 2 years of experience interested in transitioning into real estate private equity. I've had a lot of conversations / interviews with smaller / mid-size shops but keep getting told that I would be a good fit but right now they need to hire someone with a real estate background already (and that they would keep me in mind if an entry level analyst role comes up).
As such, I decided to go out and apply to a few T20 MBA programs. I'm a little concerned that coming out of the MBA, I either won't be competitive for REPE roles or I'll be slotted back into a pre-MBA entry level role, since I'll only have 2.5 years experience upon matriculation. In your experience, have you seen hires from T15 (NYU, Cornell) or T20 schools (UNC, UTA, USC, etc.) make a jump into real estate private equity without prior real estate experience? And is that at an analyst or associate level with lower comp? I'm just concerned that if I go to school, I could end up on the low end of the spectrum that some of these schools put out (70 - 80k which would be a pay cut).
Alternatively, I could wait it out for the market to pick back up and try to transition without an MBA or apply again to some of the M7 in a year or two (I have the GMAT / GPA but the work experience killed my applications). Thank you!