Career Pivot via Masters in Real Estate
Hi all, have been a reader of a lot of the RE forums but first time posting.
I am currently three years into working as an electrical engineer for a Medium~Large MEP engineering firm in NYC. I have been involved with several of the firms ground up construction projects which have included both commercial and residential in excess of 30 stories. I know that I am viewed favorably in the eyes of the firm I work for regarding upward mobility, I also know that a few more years learning about the nuts and bolts of my current industry could benefit me in the long run.
Education wise I started as an Architecture major but changed schools and majors after sophomore year (from an Architecture school in the NYC area to a Big Ten School). My degree was not in the B-school and sort of an off-shoot of its standard finance degree. GPA was around a 3.2 (also have an architecture minor for what its worth).
I am trying to figure out out the best way to transition towards development and if that would be by way of getting a MSRE(D). I have looked at:
Baruch MS Real Estate [definitely the most cost effective option and only one offered in an actual B-school (although Zicklen is not super-super high ranked)]
NYU MSRE & MSRED [a bit pricey but seems to be a solid option (have a friend in the MSRED program now who graduated with a B.Architecture)]
Columbia MSRED [Columbia name is great but full time only is a bit of a turn off]
My undergrad background and work experience combo is a little unconventional and I feel that I am looking for a good way to tie it all together. I know that people get into development in all sorts of ways and I definitely feel that it is something I have a knack for; but trying to figure out how to steer the ship in the right direction to get there.
Thank you!
Is Master in Real Estate necessary? How much will it affect my future career? (Originally Posted: 07/20/2016)
Hi all! I've read through many master in real estate related threads in WSO but am still unsure. A lil bit intro, I have a 2 years experience in Property Management (and am still working in the field - 3 years exp. if I could make it to Fall 2017 class) and am liking real estate field - background is Civil Engineering. I have decided to stay in this field.
Therefore, I am considering of getting into Master in Real Estate program. But how much will this experience and degree give me though? How will it affect my future career? My current client once told me what matters in this field is experience, but I dont quite agree with her, considering I dont have much basic knowledge about this field.
If I were to go back to school, that would mean I will leave my current job (I am currently in Indonesia and would like to be in the on-campus program). Also, I'm considering program in Georgetown U., Cornell U., and NYU (if you could kindly give 2 cents bout these 3 schools).
Thanks ahead.
Longtime lurker here. What CRE is saying is definitely accurate with the transitional aspects the graduate degree can offer your career. The degree can be helpful (especially the MSRED) if you plan to stay in real estate whereas the MBA lets you be a little more flexible.
Be warned regarding post graduation US sponsorship prospects, a lot of employers aren't willing to take the risk and incur the cost unless you're a superstar. I'm not saying this to discourage you but the percentage of students I've seen get sponsored relative to student body has been relatively low.
I would also factor in the location of the program which determines accessibility to interviews, event opportunities (NYC vs Ithaca), and if the program has a true class cohort.
As far as Cornell goes it's really an MBA program with a real estate concentration based up in Ithaca which isn't for everyone. The class size is very small.
NYU is the biggest MSRE program but it doesn't offer a class cohort (it's a massive program) since the classrooms are small and students are staggered all over between full / part-time.
Georgetown is a medium sized program with a class cohort but the focus is definitely regional.
You also missed Columbia and MIT both also very different.
.02