I currently work for an agency lender but have been trying to pivot into a development/acquisitions role. The job hunt has been tough especially with the current market, but I feel I often get overlooked due to my experience on agency debt. I read the other discussion post and realize many others are in a difficult spot finding their next role but I have started thinking about pursuing my Masters in Real Estate to be more attractive to potential employers. Is it worth getting a MSRE to move to the principal side? Are there courses/certificates that would help my chances (i.e. ARGUS or Modeling)? Or should I wait for the economy to recover?
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No. Save the 100k in post tax dollars and just hustle for a few years. It may take a year or two but you'll land.
Pursuing a Masters is a great way to pivot. It opens many doors via networking for internships/positions that you might not have access to otherwise. For me, my MRED degree demonstrated to potential employers that I was serious about development and had a basic knowledge to hit the ground running.
My first job was agency lending. But I lateraled to a better job (mortgage REIT) and then to a debt / equity REPE fund. Total time from starting in agency lending to landing a REPE job took about 4 years.
The key to these moves was that I made them when the job market was insanely hot (2018 and then 2021). In a hot job market, the best shops can’t find the best talent… so they look to places like agency lenders instead of only hiring people with debt fund or REPE experience.
Realistically, not a lot of agency lenders get hired into REPE even in hot job markets. You need to find an intermediate step. Maybe agency lending -> top investment sales broker -> REPE. Or agency lending -> lending at Wells Fargo -> REPE. Talk to some people and figure out what the best intermediate move is
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