How important is the networking benefit of a Master's in real estate?
I'm looking into both NYU and Georgetown. Both offer an online component (NYU you can do part of the program online, Georgetown completely.)
My thoughts are to keep my current job (a crappy back office job) and do roughly half the course online. And then finish up in person.
Would I be missing out a lot by using this strategy?
Thank you.
I would think that actually being there in person and meeting your peers and professors would offer a better experience and network.
I was actually thinking about Georgetown as well and doing half online and the other half in person.
As a current Georgetown MPRE student, here's how I see it. Right now a master's in real estate (finance, development, et al) is the equivalent of a bachelor's degree in, like, I don't know, 1975. There's marginal value in just obtaining the degree, especially from a reputable institution. However, things are evolving rapidly, and by, say, 2025 the degree will be like the bachelor's degree is today--a bare minimum to progress to the next level--which is when it will have similar recruiting dynamics to a bachelor's degree (it may take serious networking to get to the position you want).
Obviously networking is an important aspect of the degree, but I truly think that in 10 years if you don't have a master's degree in real estate (OR a very reputable MBA) then forget progressing to the next level in a salaried position (unless you're a superstar) because everyone applying for "that" position will have the degree. It'll be like applying to an investment banking analyst position out of high school without the degree. So I say get it anyway you can.
With that said, I fail to see the value of the Georgetown degree outside of the D.C. area in that the overwhelming majority of networking and job recruitment is in the D.C. area. I've heard of people getting nice post-grad jobs outside of the D.C. area, but I suspect that you're paying a premium for Georgetown because you're in D.C.
I both agree and disagree with you, @Virginia Tech 4ever"
On one hand, I agree that at a certain point, graduate degrees will be a necessity, not a luxury. Hell, we may already be there in certain careers. Not only is a Master of Real Estate a means of progressing toward the next level by distinguishing yourself against the competition, though. It is also an important hedge against a volatile market. They can't take it away from you, after all.
That said, I think you're overly negative on how regional your degree is. I know numerous people from your program who work in NYC, for instance.
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