I'm a licensed architect working as a PM, have been attempting a career shift to CRE development for the last 1.5 years and nothing has panned out. Got myself a cert degree on RE finance/investment + tried to network myself in and no real traction there either. Now I'm considering an MSRE + A.CRE program, but the degree is going to cost me +$50k out of pocket. I keep reading about how CRE is entirely about relationships and experience > education, which I get, but most executives and developers I've spoken to have suggested I get an MBA. I don't want to / cannot fork up that level of debt in my life at this point (too old, expecting our first child next yr). This is also the reason it got me thinking seriously about forking up the money for a grad degree that is worlds cheaper + would help me completely transition away from arch/design, if that is the primary cause for dev shops not taking my candidacy seriously. Is it simply the market being screwy that may be getting in the way of my transition? (Obviously so, but my question is whether my lack of experience/credentials is holding me back regardless of the poor market condition). Or, would this $50k MSRE not only help me get my foot in the door but pay dividends later down the road with the extra learning / new credentials / networking? Or, are there no clear paths here and it all depends on luck and my ability to network my way in? If I were to go ahead with the MSRE, my plan was to complete A.CRE by EOY before the MSRE program begins next January, start seeking dev associate positions right away while I begin my part-time / evening / online MSRE program, and complete it in 2 yrs. Solid plan? Or still a reckless out of pocket gamble? Help me out here please!
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Based on the most helpful WSO content, here are some insights and advice regarding your situation:
Market Conditions and Experience:
MSRE vs. MBA:
Cost and ROI:
Networking and Experience:
Career Transition Strategy:
Potential Outcomes:
In summary, while there are no guarantees, pursuing an MSRE could be a strategic move given your constraints and goals. It’s essential to continue networking aggressively and gaining relevant experience to maximize the benefits of the degree.
Sources: Entry Level Development Roles - MRED Necessary?, Having a very difficult time breaking into CRE (Please Help - I'm Desperate), My 8-month real estate finance internship journey + some general thoughts on NYU's MSRE, MBA or Masters of Science in Real Estate??, MSRE vs. MBA decision - looking for opinions based on my situation/interests
Good work on getting a certificate, but it is important to remember that certificates are almost always for the benefit of your knowledge base, not the benefit of your resume. A.CRE is awesome and will make you better at both modeling tests and on the job, but they aren't getting you hired. By all means do the program for your own personal growth and professional insights, but don't expect an employer to even know what A.CRE is, much less if the certificate means anything.
Moving on, I hear you on the cost of an MBA - it is one of the primary reasons I went the MRED route instead. Unlike a certificate, a graduate degree will help you in the hiring process and the architect to developer pathway is common enough to resonate with most. Whether the $50k and a year or two of lost income are worth it changes from person to person, but as you said, with the market right now it is increasingly difficult to simply network your way into a position. A developer might love you personally, but if they don't have any work, and aren't making any money themselves, the last thing they want to do is get another salary on the books.
I think your plan of doing the MSRE while keeping your job and immediately beginning to network & search for a job is a great plan, but also know that there may come a time where a full time employer is going to look to see if you have any internships on your resume, or want to hire you as an intern first over a summer, and you will have to make the decision to quit your job or not to advance your career. It's difficult to jump into an associate role with literally zero development experience. Not impossible, but again, with the market right now, you're going to be competing with a ton of people with actual development experience also applying for those jobs.
Thanks for the detailed response and insight! I was hoping dev shops would hire someone like me for my ability to project manage (work on the dev mgmt side of things) while I learn the ropes on the finance side, but seems like that may be a bit of a wishful thinking...
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