Internships Lead to Job Offers for Many Real Estate MBA Students

For Jake Maliel, Felipe Izquierdo  and Keyi Xu, three Wisconsin real estate MBA students who interned at Bank of America last summer, the combination of practical work experience and being enrolled in Wisconsin’s top-ranked MBA program proved to be an fantastic combination for entering the full-time workforce.  The students’ internships not only gave them the opportunity to be involved with influential projects at Bank of America, but also led to job offers for all three students (all accepted).  Historically, Bank of America recruited interns and employees predominantly from the East Coast.  Now, however, after the impressive performance of four Wisconsin interns (three MBA’s and one real estate undergrad),   Bank of America is actively searching for more Wisconsin students and grads.

Given Wisconsin’s reputation for tight alumni connections, it comes as no surprise that many of the MBA students find their internships through the alumni network and Graaskamp Center board members.  For example, although Nationwide Insurance had never recruited at Wisconsin, MBA student Michael Scotti learned that the “strength of weak ties” is a powerful force in the working world. After Graaskamp Center board member and guest lecturer Larry Duggins of Dallas, Texas gave a presentation at the Graaskamp Center, Scotti approached to ask him a few questions. After learning about Scotti’s desire to be in Columbus, Ohio, over the summer, Duggins shared a contact he had there.  Thanks to Duggins’ contact, Scotti interviewed and landed an outstanding internship with Nationwide Insurance in Columbus. 

Read more about real estate MBA student internships below.

MBA Internship Profiles

 Jacob Maliel, Intern, Bank of America, Charlotte, N.C.

Jake Maliel landed an exceptional internship In Charlotte, N.C, with the Bank of America in the Real Estate Transaction and Investment division. The internship not only gave Maliel the chance to be involved with an influential project dealing with $300 million dollars, but it also led to an offer for full-time employment that he could not refuse.

Maliel says that UW-Madison’s Real Estate MBA program undoubtedly contributed to his success this past summer. The ability to be exposed to important concepts of real estate through coursework and also to apply those concepts by speaking with investors and alumni on campus allowed Jake to confidently approach his project and make a presentation before leadership at the end of the summer.

Maliel felt “a great sense of responsibility to the MBA program” to represent the school and pave the way for other Wisconsin students to have the chance to intern with such a great company. And he did just that.

Michael Pfaff, Intern, Ackman-Ziff, New York, N.Y.

Mike Pfaff has no doubt that he made a “great decision” when he joined the real estate capital advisory firm Ackman-Ziff for an internship in Midtown Manhattan during the summer of 2007. Although he felt confident in his aspirations to pursue a career in real estate finance, his outstanding internship helped to confirm and reinforce his decision.

At Ackman-Ziff, Pfaff engaged in negotiations and sat in on high-level meetings on a daily basis. The small firm had an intimate atmosphere, allowing him to be actively involved with important decision makers at the company.

When it came to preparation for his internship, Pfaff found that UW-Madison’s MBA in Real Estate program equipped him with the right tools to be successful in the working world. He explains that “the hands-on experience offered through the program, such as the ability to travel to conferences and speak with distinguished alumni and leading professionals, gave me a jumpstart to understanding the business and adding value to the firm.”

Although Pfaff was the first Wisconsin intern at the firm, Ackman-Ziff is eager to have other Wisconsin students at their company. Talks between Pfaff and Ackman-Ziff are currently underway for full-time employment opportunities, and both parties seem strongly interested.

Jonathan Shalik, Intern, Real Estate Capital Partners, New York, N.Y.

Jonathan Shalik landed an internship at Real Estate Capital Partners in New York City. During the internship, he had the unique opportunity to analyze and underwrite investment opportunities from an equity investment perspective, allowing him to gain valuable insights into the real estate industry. Although the current real estate market environment is uncertain and rather tumultuous, Shalik’s company was still able to execute investment and find success by capitalizing on many years of experience.

Coming from an architecture background, Shalik was able to supplement his knowledge of the industry with many of the required first-year courses, such as business- finance, accounting, marketing and data analysis.  His internship proved to be an effective way of learning important real-estate concepts. Shalik says that “the real-world application of what we learned in the first year is a tremendous help in the more focused second-year real estate courses.” 

Alumni connections were the key to helping Shalik locate his internship at Real Estate Capital Partners.  The company will be recruiting through Wisconsin MBA Career Services for the first time this year.