Indian real estate industry employs over 35 million people who
shape the way we live. They make decisions that impact our lives for years to
come. This makes their job challenging as well as rewarding. The interesting
part is consulting and finance jobs in real estate are rewarding in monetary
terms as well. These white collars jobs pave the way for a rapidly progressing
career.
As you read this, more and more people are choosing real estate
specific careers. This is because over a third of world’s wealth is invested in
real estate. Also real estate is collateral to a huge amount of financial
assets. In the vast market of real estate, professionals work across fields
such as valuations, strategic consulting, research & advisory, investment
banking, transactions & leasing, asset management, housing finance, etc.
The journey begins with acquiring the relevant skills and
experience. These can also be picked up during the career but that will take a
couple of years. Smart professionals inculcate these skills through specialized
education and learning even before entering the market. There are specialized
programs in real estate finance such as the M.Phil in Real Estate Finance by
Cambridge University, England and M.Sc Real Estate and Property Management by
University of Salford, UK.
Thankfully, now similar education is also available in India by
RICS School of Built Environment, Amity University. It offers BBA and MBA
programs in Real Estate and Infrastructure Management, with options to
specialize in Investment & Finance. These programs educate students about
the entire property lifecycle and how to manage them on different levels. RICS
being a global industry body for real estate & construction present in 146
countries offers opportunity to learn directly from the industry in the form of
frequent lectures by industry experts, site visits and real life case studies.
Internships are also provided according to student’s interest area and
placements are well supported with active support of leading employers, many of
whom are RICS members. (The average placement CTC for their 2013-15 batch was
6.7 lakhs p.a.) All in all, it transforms a student into a job ready
professional during the course tenure.
Employers no doubt prefer candidates with a specialized degree.
These candidates also claim higher pay packages and are an asset to the
organization. Be it leading global consulting firms like KPMG, PwC,
McKinsey and E&Y or international property consulting firms – like JLL,
CBRE, Cushman & Wakefiled etc, or global investment banks such as JP
Morgan, Goldman Sachs etc – the opportunities for high growth career in India
and abroad, are manifold. The career progress however is largely
dependent upon one’s dedication level. If one is hard working and qualified,
he/she will quickly rise up the success ladder. Many young CEOs in the industry
are an indication to this fact.
Also there is no dearth of job opportunities. According to
National Housing Bank (NHB) report 2014-15, real estate comes fourth in terms
of employment generation in India. The industry is growing rapidly day by day
and so is the demand of specialized real estate professionals. The recent
report of JLL hiring 1000 new professionals in this year within India explains
this.
Here is a brief explanation of the kind of specialized jobs in
real estate:
Investment management
Real estate investment managers analyze real estate markets,
conduct due diligence and work out best scenarios for real estate project
development and investment.
Investment banking Globally, many investment banks have groups
dedicated to real estate, particularly the repackaging of mortgages into
securities and principal investing in real estate.
Valuation, appraisal or credit management Valuation professionals usually work for banks or for valuation
firms and will normally value properties using different approaches. At times,
they also take decisions on whether to extend credit to a borrower.
Advisory and consulting Real estate advisors help investors
select the right property and keep check on financial performance of the
investment.
Corporate real
estate and facilities management Corporate real estate professionals manage vast property
portfolios held by corporates – be it acquisition or administration. Facilities
managers manage major facilities, such as residential complexes or shopping
centres etc. to help reduce operational costs and increase productivity of
workplaces. Leasing and sales management These managers specialize in
representing landlords and/or tenants in the transactions of commercial real
estate properties for lease.