Hey guys,
So I'm currently a junior at a non-target, majoring in finance with a minor in real estate. My ideal long-term career would be in real estate investment banking or private equity, and I need some advice as to which internship/career path would better to pursue.
I currently have an summer offer doing Global Markets Operations at a BB. I know the brand name would be a good thing, but I know that the internship would have nothing to do with real estate.
On the other hand, I recently received an offer to intern with a large real estate consulting and advisory firm. This position would include a lot of market analysis and more relevant work.
So I ask you fellow monkeys, keeping my end goals in mind, which position should I take to better position myself towards a career in RE IB/PE? I know IBD is ideal, but I pretty much lack the experience that most firms look for (not to mention I'm at a non-target) for IBD. Seeing as how you guys are probably more experienced in the industry, if you were looking to hire for RE IB/PE-oriented positions, is the BB name more important, or does the RE consulting look better? I know the stigma associated with term "ops" on this site, so should I take my chances and network as much as I can at the BB, in hopes that I can move into other, more relevant groups?
Forgive me for the lengthy questioning, and if the answer seems obvious, but I can't help but be unsure as to what firms like Blackstone, etc look for in candidates for PE positions. You guys have been very helpful in the past, so I thank you in advance for any advice you may have!
At a very broad level - experience at a smaller (but not shitty) firm in a relevant field > experience at a big firm in an irrelevant field.
Bump! any other opinions? I appreciate it guys!
I would go with the Re consulting. Also, I'm sure they have a lot of good contacts for RE investment groups which you can potentially build a decent network with. I know you said you want RE IB or PE, but if you can network yourself to a fall/spring internship with an RE investment group, you will look even better.
I think it is an easy choice: if you want to work further in Real Estate, why not to choose real estate internship? Especially if it is not a shitty firm, indeed
bump. any other opinions? time is of the essence, and I've read a lot about the potential negative consequences of reneging (which is what i would have to do with the BB- it was an early offer and I had nothing else on the table), so I'd like to get as many opinions on this as possible
No question, do the RE internship.
It's operations aka back office, correct? Go with the RE Consulting, you'll get a lot more experience and have more relevant topics to talk about when leveraging it for FT.
I believe your main issue is reneging; trust me and renege, it's not worth giving up the potential future openings opened by the RE consulting firm. You won't be able to lateral from the BB operations to a FO role, this is basically unheard of if your end goal is IB/PE.
In the end, don't worry about it. Lots of people renege, more so than you think. What would you rather have: a better future and possibilities lined up due to the more relevant experience, or spend a summer working in back office, not learning anything, and regretting your decision all because you're afraid to tell HR no ?
If your goal is IBD like you said, definitely do not take the back office job
Go with the nice at a small firm
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