Development Programs in Texas
I am extremely interested in real estate development and would like to go for a masters or MBA with a concentration in RED. I know about the top programs at USC, MIT, Colombia, etc., but what options do i have in Texas ? We have UT, Rice, A&M and U of H. Would you guys recommend any of these schools to get placed with a top RE development firm like Hines or Trammell Crow. Would you guys recommend a MRED or MBA with a concentration in RE?
By the way, U of H just started a real estate graduate program but i question their credibility within the industry being that they are relatively new. Also, Hines and TC both have their headquarters in Texas (Houston and Dallas). I have seen a few job postings for entry level jobs with Hines and CBRE at UH's business school so i wonder if that could potentially help.
I've talked with folks in the MBA program at Rice, and its an absolute no go on the hiring front. They get beat out by candidates from Columbia, MIT, Wharton, Harvard, etc. even in Texas cities. To get good career placement for RE you really need to go to a tip-top program - and even then its VERY competitive because of the lack of available positions.
If you want Hines in Houston, you better go to Harvard - most of their upper management are HBS'rs and rumor is its a good-ol-boys club.
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Being in Houston, I can personally say most of the major developers are based out of Texas. However, for some reason there are very few RE programs and the ones that exist are not really that great. Stay away from UH though.
What's been said on this is true. You made have a shot at UT Austin, but Hines and those kinds of big buys prefer HBS, etc...
Does anyone know the kind of comp those jobs typically pay ?
I disagree with the above.
If you have a good undergraduate degree, solid work experience, and get an MBA from Texas w/ RE Finance concentration; you can likely get on at any top tier firm in the state.
Yea you don't need a Harvard degree. I know plenty of people with Hines in Houston that have UT degrees. Just don't go for lower end schools like UH, since it's essentially one step above a community college.
I did an internship at Urban Oaks Builders, Multifamily GC owned by Gerald Hines, and I interacted with the "developers" every now and then. I met people with an MBA from Harvard as well as U of H. Personally, I thought the U of H MBA grad was better at his job than the Harvard grad because he had a couple years experience as a project engineer for large GC.
Current undergrad Finance student in Dallas. Have personally interviewed or have had friends interview at Hillwood, HFF and TCC. Most of the other interview candidates did not even study in Texas, or pursue a degree in Development. (Think old money types, Vandy or Princeton).
IMO easiest way to break in would be through a brokerage role and to network internally.
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