MSRED vs. MBA vs. Work experience
Background: 25 yrs old, BA in Arch, 3 yrs exp in Development in Egypt
Hi Everyone,
I'm working in a development company on multinational projects of all types (Residential, commercial, hospitality...). I get to set development visions, overview design, build financial models, prepare business plans and the work is great. But the pay is horrible and moving up the ladder is very difficult because I'm young and I went straight into development after graduation which is not the case at least here in Egypt. Most people spend 5-7 years average (in technical design or PM) before moving to this field at entry level positions.
So I'm considering applying for a MSRED (MIT/Colombia/Cornell) next year for these reasons:
1. It might open up employment opportunities beyond my home country
2. If I come back to Egypt I'll have a step up considering that the market is full of MBA holders but none in MSRED
3. It'll boost my background in Finance and help in the decision making process
So what I'm asking is:
1. If I already have experience in the development field is there added value in getting MSRED. I read that a lot people get it when they want to shift careers.
2. Which programs do you recommend for someone who already has experience in real estate development?
3. What are my chances to find a job in the States after graduation? If anyone with similar International background can share their experience
4. In practical work experience development is very location specific so I'm wondering if what I will learn in MSRED will be also location specific so I'm better off with an MBA if I were to stay in Egypt
The cost of the degree is ridiculously expensive so I need to make sure I'm putting money in the right place.
Some thoughts based on my own experience in school with foreign students working towards similar goals you have mentioned above (in order of your numbered bullets):
100% agree here. Just make sure you literally compares the various RE finance course offerings at the different programs you're considering so you don't show up day 1 to find out there are only X classes available when you were led to believe there were X+3, etc...
I would recommend writing down all of your 'gaps' or weaknesses and in addition to those, items that you personally want to master/learn more about. Then evaluate various programs through that lens and you WILL leave having learned what you set out to in the first place. I didn't attend an MSRED, but am led to believe that a top MBA > MSRED for development jobs out there. A quick linkedin employee search on various companies' employees will either confirm or refute that statement.
Good luck!
I will say what many guys have told me regarding MSREs.. as great as it is, you better 100% be sure RE is what you want your future to be because last thing you want is to spend 100K on such a specific degree.
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