About the role
Job Classification
Investment Management - Investments
PGIM: 2027 Real Estate, Sophomore Externship Program
Location: Newark, NJ
Your Opportunity
Are you a sophomore interested in learning about careers in commercial real estate? Would you like to get a jump start on 2028 summer internship recruiting while networking with leaders at a Fortune 100 company? PGIM will host a 3-day sophomore externship in January 2027 to educate students on its asset management business and opportunities for internships and careers with the firm.
PGIM Real Estate Overview
PGIM is the diversified asset management business of Prudential Financial, Inc. With $1.4 trillion in assets under management and 41 offices spanning 20 countries, PGIM is among the world's leading asset managers.
With $218 billion in gross assets under management and administration ($139 billion net), PGIM Real Estate provides investors and borrowers access to real estate equity, real estate debt, agriculture, and impact solutions across the risk-return spectrum. Our execution capabilities and industry insights are backed by a 50-year legacy of investing in commercial real estate, a 140-year history of real estate financing, and the local experience of professionals in 35 cities globally.
Program Overview
PGIM will host a 3-day externship on January 5th through 7th, 2027 at Prudential's Newark, NJ headquarters. This program is intended for students graduating between December 2028-May 2029. Transportation and lodging will be provided to those selected to participate in our program. Externs will engage in training, case studies, job shadowing, and networking during our program. For those selected to participate in the externship, there will also be opportunities to interview for a summer 2028 10-week paid summer internship upon conclusion of the program!
During the sophomore externship we'll be showcasing 3 different areas across our real estate platform. These businesses use their internship program as the main feeder into their full-time Analyst programs:
Equity: Asset Management & Transactions
Our Equity business invests in and manages commercial real estate across a range of property types and risk profiles. Participants will learn how our teams evaluate new opportunities and manage assets throughout the investment lifecycle.
Acquisitions (Transactions): Support the sourcing, underwriting, financial modeling, and due diligence of new acquisitions and developments. Work may include cash flow and waterfall models, sensitivity analyses, rent roll reviews, comparable property analysis, and materials used to evaluate investment opportunities.
Asset Management: Collaborate with partners, consultants, property managers, and leasing brokers to oversee operating assets, development projects, and repositioning strategies. Teams monitor property performance and help execute leasing, operational, financing, and disposition strategies.
Debt - Originations
Our Originations business evaluates and secures commercial real estate loans across property types, structures, and geographies. Participants will learn how teams assess new debt investment opportunities and move transactions through due diligence and closing.
Support market research, credit analysis, property valuation, cash flow modeling, Argus modeling, and sensitivity analysis.
Assist with due diligence and closing materials while coordinating with internal teams and external partners.
Debt - Agency
Our Agency Lending business supports multifamily real estate financing through capital sources including Fannie Mae, Freddie Mac, and FHA. Participants will learn about opportunities within Underwriting and Portfolio or Deal Management. Support market research, credit analysis, property valuation, cash flow modeling, Argus modeling, and sensitivity analysis.
Underwriting: Analyze potential loans, coordinate due diligence, assess cash flow assumptions and market data, and help prepare investment packages for credit approval.
Portfolio or Deal Management: Support credit officers and origination teams throughout the life cycle of a deal, including policies, procedures, production goals, and loan submission materials.
Analytical work may include market research, due diligence tracking, financial modeling, property valuation, and borrower credit assessment.
What you'll need
Candidates must be enrolled in an accredited bachelor's degree program graduating between December 2028 and May 2029
All majors welcome! Candidates should have an interest in exploring careers across commercial real estate
Minimum GPA of 3.0 required
Prudential does not provide visa sponsorship for this program. Successful candidates must possess the requisite US employment authorization to be eligible for consideration
Here's what to expect when you apply
Submit your application. Apply to up to three roles that best match your interests and skills.
Complete a first round video interview. If selected, you'll be invited to record responses to a few interview questions. This helps our teams get to know you better and allows you to share your story on your own time.
Join us for final round interviews. If you advance, you'll be invited to meet with our team-either virtually or in person-to learn more about our business, culture, and role.
Prudential Financial, Inc. of the United States is not affiliated with Prudential plc. which is headquartered in the United Kingdom.
Prudential is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, national origin, ancestry, sex, sexual orientation, gender identity, national origin, genetics, disability, marital status, age, veteran status, domestic partner status, medical condition or any other characteristic protected by law.
If you need an accommodation to complete the application process, please email accommodations.hw@prudential.com.
If you are experiencing a technical issue with your application or an assessment, please email careers.technicalsupport@prudential.com to request assistance.