Real Estate

The good news is that the real estate industry welcomes new blood; unfortunately, if you're their competitor, they like it in their coffee. Real Estate is a complicated and complex industry that encompasses everything to do with property, from buying or leasing, to managing commercial, residential, or agricultural property and all the functions that support this industry, such as appraising and financing. It is a high-risk, high-reward industry, and you have analytical abilities, financial skills, and personality to earn substantial returns. More than your skills, however, this industry seeks your entrepreneurial outlook coupled with your tenacity and ability to look beyond what people thought was possible. Opportunities to prove yourself abound, but it's not always easy.

Life in the Real Estate Industry:
MBAs typically work in Corporate Finance; Investment Finance; or Property, which encompasses the physical management and development of the property. This industry is less hierarchical than others, but don't expect anyone to hold you hand. You will be on the go from the time you walk into the office until you go home; you will constantly be focused on the job details and the people skills that make you the extroverted, "go-to" person that you are. You will be challenged to stay on top of current trends as well as changes in other markets that will affect your industry such as, new tax laws, zoning regulations, highway routes, etc. and if you don't, be sure that one of your competitors will, and they will leverage their knowledge against you.

Career paths, hours, and job structure differ from company to company and depends on your particular function. The promise of partnership is a big carrot in the industry, with some reporting that it can happen in as little as eight years, without having to stay within the same company. The compensation differences in this industry have to do with the differences in opportunities. Generally, people will take the lower salary in order to work with better people who will teach them the ropes and give them a percentage of their commissions, usually this means taking a job making as little as $50,000 base, while others may want to take the higher salary. In some larger companies this can be upwards of $100,000 base. These individuals may not make the biggest sales, but they can always live off their salary. Senior Associates and Analysts with MBAs can make closer to $80,000-$90,000 and Developers can expect to earn from $50,000-$100,000. Commercial Brokers can make $50,000-$100,000, but some have reported making as little as $40,000, against future production. There's no cap to potential, and the trick is to prove your value and earn your keep. The real estate industry is responsible for over 5 million jobs in the U.S., let's make yours one of them.