International PRE Students Fascinated by the U.S.
Up in the air - that’s where first-year PRE student Joss Jiang will spend much of his winter break, as he goes on an extensive U.S. tour. Jiang is an international student from China who is using his winter break as an opportunity to visit a wide range of U.S cities, together with some fellow Chinese students. Jiang has organized a month-long itinerary that will take him to Orlando, Miami, Chicago, Los Angeles, San Francisco, Arizona, Seattle, Las Vegas and Hawaii. For Jiang the trip will be a chance to better familiarize himself with the U.S. and its diverse regions and people. Said Jiang, “As someone from a country that has such an important relationship with the U.S., and will surely continue to have an important relationship with the U.S., I think that it is crucial that other Chinese citizens and I seek to understand this country as best we can, and vice versa. Our countries have a shared future and for us to succeed together as nations and individuals, we should appreciate our differences as well as our similarities. The best way to gain such an appreciation, I think, is through direct experience – that’s what I hope this trip will give me”.
Fascination with the U.S. is remarkably strong amongst international PRE students. Despite the recent focus on countries such as China, India and Brazil and a lingering sense of pessimism regarding the U.S. economy, the U.S. still captures the imagination of students who come from those very same emerging markets. As Kanika Saxena, from India, expressed, “With all of the talk about emerging markets, however warranted it may be, many Americans often seem to forget that for Indians and other foreigners the American Dream is still something that many people believe in passionately. Although other countries have risen over the course of the past several decades, it hasn’t been at the expense of the admiration that foreigners have for America and for Americans”.
As a further indication of the lure of the U.S., rather than being eager to leave the country immediately upon graduation, when polled the majority of international PRE students expressed an intention to remain and work in the U.S., at least temporarily. Said Joao Friere, from Brazil, “There is certainly a real temptation to return home when we graduate. However, if you’re serious about a career in real estate working in the U.S. is a badge of honor. None of the BRICS countries have real estate industries nearly as sophisticated and mature as America’s and nothing replaces U.S.-based experience”.
Many international PRE students reiterated this sentiment, saying that although they may return to their countries of origin at some point in the long-term future, the immediate priority for them is accomplishing early-to-mid career success in the U.S. first. Several of the international PRE students already have achieved this kind of success. Manoj Kumar, from India, has been living and working as an architect in the Washington D.C. area for several years. He, like may other students have grown attached to the U.S.. Said Kumar, “My wife and I have been here for several years. We’ve gone to college here, made great friends here, started our careers here, and built a life here. As much as you always feel attached to your country of origin, America is the kind of place that quickly becomes your home. Not many countries welcome and provide talented people with the kind platform to succeed the way that America does – and Americans should be very proud of that”.
International PRE students not only hope to absorb knowledge and expertise, but also to impart it. Many of the current international students bring strong prior work experience and unique perspectives on a wide range of real estate industry sectors to the PRE. Rick Lu, from China, emphasized the value of the broad range of international perspectives saying, “We can all contribute some special insight for each other, especially those with strong work experience. For example, students from China, where certain financial products such as REITs have not yet been introduced will graduate with a huge advantage because they will have a head start on these products when they return to their home country. Conversely, we from the East bring foreign expertise to a domestic industry that is in many ways very different from Asian and other real estate industries. The sharing of knowledge benefits everyone”.
Lu also added that he, like many other PRE students realize the value of the international network of colleagues that students gain from the PRE experience. Said Lu, “Although capital markets are global, real estate markets are local. Understanding the rules of the game in foreign countries is difficult, so it helps that PRE alumni have those kind of relationships whether they are interested in personal investments or are representing large institutional investors such as pension funds”.
When asked how their experience of living and studying in the U.S. has impacted them thus far, international PRE students fairly universally remarked that their American experience has given them a greater appreciation of the principles that the country was founded on and continues to uphold. Said Hamza Bennani, from Morocco, “Americans are clearly genuine in how they feel about the concept of freedom. For places in the world such as North Africa, where citizens have recently taken drastic measures to secure a greater sense of freedom and democracy, American ideals are not only important but life-changing”.
International PRE students have noted several uniquely American characteristics among their classmates and their other American friends and colleagues. Soo Hyun Baik, who is from South Korea and who has spent several years living and working in California noted that, “There is an independence about Americans that is quickly apparent. It’s very different from the mentality common in countries like South Korea, where people are more group-focused. It’s a wonderful thing – to be as independent as many Americans are, and likely has much to do with the social mobility and can-do attitude that’s so prevalent here”.
The students have also been particularly impressed by the friendliness of the Ithacans, and especially the Cornellians that they have met. Pierre-Antoine Rigaud, from Paris, France noted, “The people that you meet on a day-to-day basis here are some of the warmest, kindest, most pleasant people that I’ve had the pleasure of knowing. From professors and students, to the ladies at Mac’s, to random people on the street - everyone has been great. Maybe I’ve been living in Paris for too long, but you forget how much of a difference that those kind of people make in your quality of life. There’s an approachability and warmth about Americans that radiates from them”.
Fortunately, the students have many adventures ahead of them, including several more career treks and conferences that will take them across the country. Like Jiang, Chutinart (“Aim”) Ongkosit, from Thailand, has also already taken the opportunity to tour several regions of the U.S., having travelled this year to Miami, New York City, Los Angeles and Chicago. Said Ongkosit, “Everywhere that I’ve visited in the U.S. has been unique and unlike anywhere else in he world that I’ve been to. It’s a big country, and a great one too. Especially in places like New York City or Chicago, there’s an electricity that you can’t help but feel. I’m very excited to see much more of the country during my time with the PRE”.
When asked whether focusing on real estate will give students a special perspective on the U.S., Jaeseok Lee, from South Korea, replied, “Of course. America has been so significantly influenced by real estate, by settlement and development, that studying it can only lead to a much better understanding of the country. Real estate says so much about how people like to live, what they like to do with their time, and how they view their communities. Real estate development in particular is such a strong example of people making dreams become reality, and it gives you a peek into what American dreams are all about and how persistent Americans are about realizing them”.
For their part, international PRE students have also made quite a strong impression on the PRE’s domestic students. Said Crystal Wilson, a native of Florida, “We have a fantastic group of people here from all over the world who have quickly become our close friends. They’re all incredibly talented and are all going to accomplish some really great things in their lives. Hopefully we can convince them all to stay in the U.S. when they graduate and put those talents to work here. It would be a shame to lose them”.
Speaking with the PRE’s international students reminds one of everything that America can and does mean in the world. For students like Jiang, America still inspires as a land of opportunity.