Hoping to obtain feedback from anybody that's completed one of these degrees, who was already in the CRE industry before going back to school. Interested in quantitative anecdotes which have been elusive thus far. Considering Georgetown's MPSRE program as I was already accepted. Been working for a development firm with a couple hundred million in assets including industrial, office, and retail product. Trying to figure out what kind of professional leaps this degree might allow me to make.
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If you don't have an undergrad (or other credential like a CFA etc) in Finance or Economics, a MSRE can give you credibility in the financial analysis and overall business acumen department. Kind of presumptive "this guy knows what he is talking about".
That and the network can be used to find subsequent positions or business partners (or opportunities) as you move forward in your career.
Really depends on what kind of professional leaps you're looking to make, and how long you've been in the business. If your goal is to go back to the place that you started, the degree will probably serve less purpose than if you are trying to make a leap to another area of real estate. If you're looking to get into a different part of the business, then probably much more useful. Though, I would argue that the opportunity the degree provides is more contingent upon the contacts you make while in school, the internship opportunities that are available, and the helpfulness of your professors/lecturers at your chosen school. If you choose to go the MS route, you will gain exposure to certain elements that you would otherwise not have had exposure to, but the cost/benefit analysis will vary based upon your ultimate goals. A grad degree is not a golden ticket, but it can be very helpful.
Hard to give a quantitative, anecdotal answer on something like this.
Currently work for a family owned and operated development firm that I've been with for 12 years overseeing leasing, property management, acquisitions, dispositions, lease admin, new construction, fitouts, etc. Would be looking to move into something similar with a bigger firm or potentially even private equity.
If you're going the PE route, probably a good leap to make via the MPSRE route. If you want to do what you're doing now (but with a bigger firm), I think you should spend a couple thousand dollars taking people to lunches, sliding your resume to them, and pitching them for an interview/job. Grad school is expensive and time consuming, so if you're looking to upgrade to a bigger/different/better/more prestigious company rather than switching gears altogether, there might be better ways than taking yourself out of full time work for 18 - 24 months. Perhaps you'd still work while in grad school - I dunno. But the cost and time commitment required are worth contemplating in light of your ultimate goal.
I appreciate the feedback. I would be continuing to work while taking classes part-time. I think I'd like to end up back in the DC area so it sounds like I need to dust off my network and start reaching out.
I have to +1 ODoyleRules comment.
These programs have gotten ridiculously expensive ($5k+ for a single class is not abnormal) and if you can take your very extensive boots-on-the-ground experience AND contacts (or contacts twice/thrice removed) and parlay that into achieving your goals --- then that is truly the best option. Experience is everything in RE.
Also, some solid REPE shops like to fill their roster with "dirt" guys who can understand the sponsor more than someone who has simply built models and has a less vicarious and more immediate understanding of the projects and the granular drivers of value.
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