Summer Internship - Am I Making the Wrong Decision?
I say the following hoping to get in to development/REPE a few years out of school.
Just got offered an internship at a BB in their Commercial Banking group, specifically CRE lending. This BB does most of the construction/development financing in my city. Further, the position leads to a FT role that pays ~$80k, which believe it or not is ridiculous for someone right out of UG where I'm from (most start between $55-65k, even at top shops), despite the fact that the role is definitely not the most prestigious.
My hesitation is because graduates are put through a 18-month rotation upon graduation where only 6 months is spent in real estate, and the other 12 spent in groups that have no relation whatsoever to CRE. I'm not keen at all at the idea of spending the first year and a half after graduation somewhere other than real estate and I also assume most companies would not count this time as real estate experience should I ever decide to leave. I'm also in a co-op program where recruiting really picks up in January for the summer term (S2021) so I'd like to be able to recruit then, which I won't be able to if I accept this offer. There are usually some pretty interesting family offices/private firms that offer great positions then, in addition to the large firms which have a ton of positions open then as well.
If it is not obvious from the above, I am leaning towards turning down the offer. I have until end of day Wednesday to call back and let them know. Based on the above, what would your decision be? All input is appreciated.
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