It is hard to find a more unusual profession than a real-estate school, with a range of degrees from masters in management and finance to a bachelor of science in business.
But it has become the most popular career path for those looking to get into the sector, with more than 30,000 graduates and more than half a million applicants for the profession in 2016.
A survey of 500 of the most successful graduates of the real-life education industry found that those who went to the most prestigious universities saw their chances of being hired rise by 25 per cent when compared to those who did not.
But the survey also revealed that many graduates did not get jobs in their chosen field, with nearly half of those who were interviewed saying they were not even interested in working in the industry.
In its annual report for 2018, the Institute of Advanced Studies said its graduates had a median pay of $110,000 per year, compared with a median of $72,000 for graduates who did graduate from an industry college.
The IAS said the industry had grown more competitive over the past decade with graduates earning up to a salary of more than $150,000 and graduates earning a median salary of $93,000.
While the sector has seen some strong growth in recent years, the IAS chief executive officer, Peter Danden said the sector was struggling to retain its best graduates and attract new talent.
“I would argue that the problem is not with the students, it’s with the workforce and the industry itself, which is increasingly finding itself in a position where it’s not as competitive,” he said.
“We are really at the point now where if we want to be competitive we have to find new ways of attracting the brightest and brightest people.”
The IBS survey also found that nearly one in three graduates did receive a negative review of their work performance, with just over a quarter saying their experiences were negative, compared to just over one in five who were satisfied with their work.
“It’s not necessarily because the people we interviewed were bad people,” Mr Dandens said.
“There is a large proportion of graduates who are very happy and happy with the work they’ve done, and who really feel they’ve been very successful.”
Mr Dandensen said the issue of the workplace would become more of a concern as more people left the industry to find work elsewhere.
“People are becoming more and more aware of the problems in the realty industry, but they’re also becoming aware of what the work environment is like in the construction industry, so it’s just a matter of time before we have some sort of collective understanding of what is going on,” he added.
“The real estate sector is the largest industry in the world and we need to understand what the pressures are on our workers and how they’re working within a system that has been designed for a certain purpose.”
This survey really just tells us how much we need and can do better.