Excess MSRE/D Students in 2020?
I heard back from my MSRE application from NYU over the weekend and I didn't get accepted. To be completely honest, I was totally taken back by this as I thought it was a very lax process and they almost accepted everyone.
I had a 3.3 GPA, relevant RE finance experience (3 years) and a recommendation from a Stern professor. Now, all is not lost because I got into other programs but it's making me think. Is 2020 the year of grad school? With the amount of kids who didn't graduate with a job, did they all decide to apply to graduate school? Are we seeing an uber-influx of other finance professionals coming into CRE and deciding the MSRE/D route was the best one for them? I can't seem to wrap my head around me not getting accepted to NYU when I know plenty of others with a worse CV have gotten in.
Any similar stories or words of wisdom? Are we seeing even more professionals come into CRE during the pandemic?
BUMP
Also interested to see what others say
I also got denied from NYU with relevant exp and a 3.5 GPA, yet somehow got accepted to Columbia and Fordham
Really wish I could tell you why I got dinged but the decision email said they won't expand on it or something like that
Did you take GMAT? and what tier school are you at? I know a kid at a top state school and he got in with no GMAT and similar stats with little experience.
No GMAT because people have been saying you don't need it and they never require it if you have above a 3.0... Non-target liberal arts school, so not like the kid at a top state school but I just don't understand since my current job is one MSRE grads would gun for
What's the rationale for getting a MSRE when you already have a solid gig? Going PT as a "check-the-box"?
Competition right now is fierce and I keep seeing masters students and experienced hires alike taking entry level roles. Brutal
Interesting that you’re accepted to columbia without gmat. That’s a requirement up until the next year’s class, when they start waiving it due to covid...
So, i'm pretty sure they have about a 40-50% acceptance rate (know some profs there very well), which is not super selective by M7 MBA standards (by which everything on WSO is judged....). Also, from a recent convo I had with a friend who teaches there, they confirmed that enrollments for the fall are high and they had a higher than normal amount of people accepting their fall admit offers.
Not surprised, after the 08-Lehman fall, many MBA and MSRE programs got more applicants, especially in cities like NYC. They have had to tighten admission standards as a result.
To your question, about a 'glut' of grads.... I would doubt it as almost all of these programs have some level of capacity caps (as you may have bumped up against at NYU). Generally fewer people enter real estate during downturns, but more people already in the industry go back to grad school as the 'slowdown' lowers the opportunity cost of being in school. The scary thing is that the 'cost' of not having a degree can go up at these moments, this happened after 08.. I know several firms that used to hire straight out of UG that now mostly only hire out of grad because they got so many good applicants after 08 with grad degrees.
Too early to say if that happens again, but I wouldn't be surprised. So to sum.... net value of grad degree stays about the same, value of UG alone falls (or penalty for not having a grad rises). This is has happened steadily for the past many decades, and it is in part due to more people getting grad degrees (a lot more colleges have MBAs, MSRE/Ds, MSFs, and others now than before, and in more part-time and online formats as well executive type ones).
Very helpful and more or less of what I suspected. Think I may defer on my other acceptances for a year to study for GMAT and apply to Columbia MSRED and NYU again next year to just be even more competitive since I don't really know what else there would be to do. Hopefully the RE market steadies in 2021 so there's not as many potential applicants.
Heard from a buddy in admissions that some programs saw an application jump of 30-40% for programs with spring deadlines. Definitely going to be more competitive this year.
What you experienced is due to the current market conditions. We knew in the spring that 2020/2021 MSRE/D applications/enrollments would be higher than a normal year, same with MBA applications, so I doubt it had something to do with you as an applicant. I am sure there were many qualified applicants who, in a normal year, would have been accepted.
Best thing you can do is remain at your job and keep networking, and apply again next year with hopefully a standard application pool size.
damn so if you got rejected then I'm sure I will with these stats
2.5 years real estate experience, 2.6 gpa, non-target, no gmat, decent recommendations
would anyone care to confirm the inevitable that I'll probably get denied from nyu with the above?
Aside from your experience, most of your other qualities don't come off strong as it is. Are you not able to find someone who could give you strong recommendations? What about GMAT, no plans to take it? GRE?
I went to I guess what would be considered a semi-target, 4 years RE experience, 2.7 GPA, strong recs, scored average on GRE and got in earlier this year, pre-covid though.
will for sure take the gre/gmat for next year when applying to Columbia and NYU. think if I did that this year it would be a different story
Seems quite odd that good candidates, above 3.0 GPAs, relevant experience, strong recs and reasonably good test scores aren't getting into NYU. I wonder if there are big changes with program because maybe too many are opting out of enrolling due to instruction being majority online?
Anyone doing Georgetown and getting the same results?
A professor friend at NYU told me enrollments are very high right now, more people opting in and enrolling than usual. Higher admit standards are probably trying to keep class size the same in the face of such trend.
Do you think there is the same demand for the coming fall semester programs? I see how a lot of recent graduates/people looking for a career change after covid may be trying to go back to school ASAP, but do you think there will be the same demand and stringent guidelines for next fall?
I am not in desperate need but would like to get into NYU, but my GPA is a 3.1 from BU, with over 2 years experience in a large GSE shop (think WalkerDunlop/Berkadia) by the time I would start class, and also work part-time for my parents firm doing acquisition analysis.
Any thoughts? Im super nervous about getting in, but I really think NYU would be a great stepping stone in moving into the principal side for me with a large network.
Given the way this year and job market is playing out so far, I would expect a big surge in applicants for Fall 2021. You should consider applying as soon as you can, big programs like NYU do rolling admissions, meaning they don't wait to batch them to consider. Generally, the earlier the easier as a result. When the numbers get 'big' they can get pickier as they have fewer slots left.
Hate to be bearish, but loading up with debt for a degree in a shrinking market doesn't seem to be the best way to go. As much as I was considering this route, a bird in the hand is better than two in the bush.
I was waiting for someone to say this. I'm seeing folks leave jobs that MSRE/Ds would kill for just to go back to school...was going to apply this year or next but personally don't see the point now unless its PT or a T15 MBA focused on RE.
If you already have a job in Acq/AM/Dev, I'd weigh options VERY carefully before pulling the trigger here.
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