Internship opportunities during MSRE(d) study
Hello all,
I'm researching MSRE(d) programs to apply for this coming fall/winter. Georgetown, JHU, Columbia, and NYU currently stand out, mainly because I'd like to live/study in a metro area and network in a primary market. I'd like to incorporate an internship during my time in school, but a lot of MSRE(d) programs are only 12-18 months and do not include an internship period as part of their curriculum.
How feasible is it to get an internship while pursuing an MSRE(d) at these programs? Can anyone share their experience on work/study balance and the opportunities that these internships offer post-grad?
I'm also considering an MBA in real estate or Cornell's 2-year MSRE since these programs have a summer internship built-in, but it's hard for me to get over the added costs and time.
My background: undergrad in landscape architecture, spent 2 years in land planning and the last 2 years in CRE brokerage in a small market (less than 150,000 in population). The goal is to get into development, and I feel like my resume needs an internship to boost my work experience and network in a metro area.
Thanks,
I wouldn't want to work while in the program I'm in (Texas A&M MSRE) but I suppose you could if you only pursued the degree on a part-time basis. Another option might be to try and land an internship prior to starting a grad program. Honestly though, I think you'd be fine without one right away. I had zero CRE experience coming into the program and I'll be at a major bank this summer in a CRE group doing credit analysis and underwriting.
Jon1987 congratulations on the job, nice work. However I don't think you're giving the best advice. A development shop is very different than a major bank. Development teams tend to be lean and CRE industry is notorious for poor on the job training - for this reason we like to recruit experienced guys. I worked at a big bank out of college in a similar gig to the one you are describing - two of my peers came from liberal arts majors (french and sociology).
Clockety sorry I've never done a MSRE or MBA so cannot chime in on work/life balance. If you are in NYC i'm sure there's got to be some shops who would let you intern for free a few days a week. Most likely smaller shops. You've got a cool background, good luck.
Fair point, I didn't really take that into consideration.
I think it is important to consider the platform that the A&M degree provides. Strong placement and reputation in the Texas RE market. The network alone lands many folks jobs.
@jon1987" A&M's MSRE program is marketing 100% job placement within 90 days. How would you describe the quality of post-grad opportunities? Can grads compete for positions in REPE and development in NY or is it more limited to Texas and the surrounding region? Any idea how compensation in Texas compare with NYC/DC/LA/SF for similar roles in CRE?
old post, but I am doing research on job prospects for MSRE students. Looks like you had an internship here in the summer? Are you now working full time in the same field?
@jon1987" development is much more competitive (at least the good shops) than CRE lending at a major bank... clockety I am a full-time MSF student and have been interning part-time in real estate since october. Definitely doable you just have to find shops that will let you work max 20 hrs (I'd shoot for 10-15). School career websites are the best bet but i'd look online as well.
If you're in the right school/program, the internship opportunities should manifest themselves via the relationship the school/program has with industry. I would ask about this topic specifically when applying to and interviewing for a program. There are a number of great graduate level programs out there; really depends on where you want to be post-graduation (i.e. which region - NE, W. Coast, South, etc.), though the program you ultimately select shouldn't hinder you from exploring opportunities throughout the country. An internship during the school year is absolutely achievable, but the burden would likely be on you to find it (rather than a mandatory summer internship as part of the grad program, which the school should be more helpful in procuring with you). Be sure to reach out to those you worked with in the past, even if your desired internship is in a different specialty. It's a very small world. Reach out directly if I can be of any specific help, and best of luck to you in your research and application efforts!
ODoyleRules Thanks for the feedback! Saw that you're a VP in the industry and just started posting, could you share about what sector in CRE you're in and your background? Definitely curious on your thoughts about the value of a MSRE(D) for someone trying to break into development.
Similar to @jon1987, I also attended A&M's graduate real estate program. I worked for a commercial appraiser for the latter part of undergrad as well as during grad school. Started in CMBS at the peak in 2005, went over to a BB money-center bank in their special situations group for a number of years, and eventually made my way back to debt originations in capital markets where I have been for the last several years. Best experience was working through tough deals during the downturn; everyone is smart when money is easy, debt is cheap, cap rates are continually compressing and rents are continually increasing. Very few folks (owners, investors, developers, LENDERS) maintained discipline, and the remnants created a great learning experience.
There is value in pursuing graduate studies in an MSRE program (and there are a number of excellent programs out there, not just at A&M). The MSRE is probably more useful for certain concentrations/disciplines than others, but still universally helpful in any career path. If your desire is to get into development, pour your efforts into working with/for someone in that field as soon as possible (even if it means working for free temporarily). Any grad program will be what you make of it and how much effort you put into networking.
Respectfully, @BobTheBaker's comment about location is accurate only with respect to the desires of the people graduating. Most going to A&M's MRE program want to stay in Texas; however, the head of the program is Cydney Donnell (look her up), who is one of the original and elite group of power players from the REIT days in NY. She is extremely tough, smart, and connected, and she goes out of her way to encourage and connect students to pursue internships and jobs in NY. I graduated with several people who went directly to NY and have done very well.
Generally, I think the other comments in this thread are spot on. Would be interested to see if there are any USC, NYU, Wisconsin MSRE folks who comment on your questions as they will likely have some valuable insights to add.
ODoyleRules , how do you like where you are now? I'll be headed to BAML this summer and have been leaning towards banking as my career choice post-grad school.
@jon1987" , love capital markets. Very choppy at times, but I really enjoy the fast paced environment. Working with very smart people is also nice. PM me if you want to discuss anything specific.
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