Hey everyone,
I’m in my last year of college doing an internship at a real estate PE firm. The thing is, I realized that real estate isn’t what I want to do long term. I’m way more interested in equity markets and investment banking deals.
Before this current role, I did internships at banks working in private banking and investor relations. I picked the real estate PE job because of the brand name and to get experience with financial modeling and deal work. I got that experience but now I’m worried it might hurt my chances of getting into equity capital markets later.
I study finance and have good grades. I also run one of the bigger clubs at my school. Has anyone here made a similar change from real estate to traditional IB? I’m looking for advice on how to make this transition work or if anyone has been in a similar situation before.
you’re overthinking this. real estate pe is still pe experience - banks don’t care about the sector as much as you think. your modeling skills transfer fine, and you worked on deals. in interviews, just say you wanted exposure to different asset classes or some other corporate line they’ll buy. those banking internships actually help more than you realize since they show you know the industry. stop stressing and apply everywhere.
Your PE experience is a huge advantage! Banks want candidates who’ve seen deals and can model. Those diverse internships show you can adapt to anything. Hit up IB alumni for networking and make sure you talk about your passion for equity markets in interviews. You’re in a great spot!
You’re overthinking this! I switched from distressed real estate to M&A three years ago and it wasn’t nearly as tough as I thought. The skills transfer - modeling’s modeling, right? What helped me most was talking about specific deals during interviews, even though they were real estate focused. Banks care way more about your analytical skills and work ethic than what sector you’ve been in. Just make sure you can explain why you want to switch without sounding like you’re running from something. Those banking internships actually give you an edge since you already know the industry culture.
I’ve recruited tons of people from both real estate and traditional finance backgrounds, so I can tell you - don’t worry about being pigeonholed. It’s really not as big a deal as you think. What matters is how you tell your story. Your real estate PE experience shows you can handle complex financial analysis, and banks love that since real estate deals are complicated. Here’s the thing - don’t focus on what you’re leaving behind. Instead, highlight how your mix of private banking, investor relations, and alternative investments gives you a different angle on capital markets. That variety actually makes you stand out from the typical banking candidates. Start by targeting banks with strong real estate coverage groups. They’ll get your background immediately. Once you’re in, moving around internally is way easier. Your grades and leadership stuff give you the basics, and those different internships show you’re adaptable and genuinely interested in finance overall.
Your real estate PE experience is actually more valuable than you think for breaking into IB. The financial modeling and deal structuring you’ve learned translate directly, and many IB groups love candidates with alternative investment backgrounds. Your private banking and IR internships already show you understand capital markets from the client side.
When you’re networking and interviewing, nail down why you want traditional IB - talk up your interest in broader industry coverage and deal variety instead of just trashing real estate. The brand name from your current firm will open doors.
Start hitting up alumni in ECM and other IB divisions now. Apply for summer analyst programs if you haven’t. Your club leadership plus solid grades should make you competitive.
