Real Estate MBA - Any chance to be accepted?
Hi everyone,
I hope you are doing well despite the pandemic. I'm reaching out to you today as a first year analyst at a major US developer, in one of their European offices (think Hines, Greystar...). I'm starting to think about doing an MBA in the US in 2 or 3 years. Ultimately, I would like to be able to target a Megafund post-MBA and then go out on my own.
After some researches, I understood that I should target Wharton, Columbia, Stern, and potentially UCLA and Georgetown. They are quite big names and I suffer from a lack of experience in a foreign country. However, please find below my profile:
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Grades: I don't know how it would compare to a GPA. I got a bachelor's degree in economics with 11/20; then a double master's degree, one in banking and regulations, the other in corporate finance (respectively obtained with 13/20 and 15/20).
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Work experience: several internships in Real Estate (REPE in a small fund, valuation at a major broker, credit analysis in a national banking group) + one year in this worldwide US Development firm.
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Extracurricular: joined various business clubs in my country (participate in various conferences to host famous political men/women, CEO, etc); and helped an entrepreneur to raise €200k in Africa (it failed ultimately but it was a great experience; we prepared with a colleague his BP as well as marketing presentations).
If you have any idea to help me enhance my profile, I would be grateful. We can also connect on LinkedIn if you are a fellow graduate from one of these institutions. I would be happy to exchange your experience over there.
Thank you!
Bump
11/20 is pretty low (I think that would be a 3.0-3.3 GPA in the US), but it won't hinder your chances if you kill the GMAT. I think you'll have a shot at all your targets (barring maybe Wharton), although I wouldn't apply to Georgetown if I were you (the undergrad is good, the MBA is not). Also, joining a MF straight from MBA is going to be very difficult (that's true even at HBS/Stanford), unless you mean REPE, in which case a solid background in RE could do it
Hey,
Thank you for your input. Well received for Georgetown. Yes, I mean joining a MF in their REPE team. Hopefully, my background should help me to get there (after 3 or 4 years at a top developer firm it doesn't seem an illogic place to be).
As someone who just got an MBA from one of the schools you mentioned I'd be happy to chat more about this privately, I can speak more freely than a public post. I was on our real estate club doing admissions, so my role was speaking to prospective students about the program. If what the Intern said is correct (GPA equivalent is about 3.0-3.3) then you definitely should work on kicking butt on the GMAT, but it's not the end all be all of admissions, this isn't law school. Additionally, minimum job experience is usually two years post-undergrad, but in my class there were only 2 students that had that, everyone else was 3yr+.
Look through the class profile for the schools you are interested and see if it matches your plans (ex: https://www.hbs.edu/mba/admissions/class-profile/Pages/default.aspx).
One of the biggest things you need to think about is location, real estate is highly location specific (duh), and it translates into what firms you will be targeting (even those large national firms). Your alumni network will be 90% localized, and your peers will most likely be going to that school for the location as well, so your network will end up concentrated in a specific region.
Schools are looking for a diverse class to add value to each others experience, you learn about as much from each other as you do from the professors, so they aren't looking to just enroll a whole class of bankers and consultants (they definitely could if they wanted to). This means you need to differentiate yourself in a meaningful way. Finally, schools care about your "story". What you did, how the school will help your transition and what you can add in your two years there, and where you plan on going. The more the story makes sense and fits into the school's ethos the better shot you have.
Hello jarstar1,
Thank you for your precious advice. I reached out to you on LinkedIn to speak more privately about your experience.
You should ask the admissions dept directly how they evaluate foreign transcripts, there is usually a set system. In the US, grade inflation is huge problem so a US 3.8 could be like a European 3.0, the top programs have means of standardizing. Clearly the GMAT is one way to cut through that. Overall, I think you would have as fair chance as most (which can be tough given low acceptance rate of these programs by nature). You will have to apply to find out.
Probably lots more schools to add, UC-Berkeley, U Wisconsin, UNC Chapel Hill, U Michigan, Cornell, MIT, USC. Even UT-Austin, Rice, Emory, and one's like that will get you far with your experience.
Hello redever,
Thank you for your insight! I didn't think about it to be honest. I will contact the admissions of various schools to have a better understanding of where I am with my grades. I will try to prepare the GMAT like a beast anyway. You're right, UC-Berkeley must be a great b-school to help me land on the West Coast. I'm also familiar with Cornell and MIT. I'm afraid to apply to numerous schools due to essays and networking required. I would rather focus on 3/4/5 b-school maximum to apply with "perfect" records.
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