MSRE Advice
Hey guys, Im looking for some advice here. Im going to graduate from my undergraduate school as an Economics major. I’ve been interesting in pursuing a career in real estate finance and investments, so I applied to the MSRE programs at NYU, Fordham, and Baruch. I got accepted into all three so now Im weighing my decisions.
So here’s the thing. I’m wondering if pursuing an MSRE is actually worth it. I do not have prior professional experience in RE finance. I figured the MSRE would be worthwhile to do for the purpose of learning practical skills and networking. In undergraduate economics, there is not much emphasis on technical skills but rather on theory. In my position, would it be practical to pursue an MSRE? Im leaning towards yes on this question but I am aware I may be ignorant of how things work. Its always helpful to seek advice from those who are experienced and have been through this stuff.
Thanks for your time.
Ideally, I really think a person should get a few years of work experience prior to grad school. For one, it helps you figure out what you really want to do and study, and two, the jobs you get out of grad school will be way better most of the time. To be honest, if you go to any of those programs now, you will probably get a job for similar pay as what you would get direct out of UG. You are still "brand new".
The upside is you can intern in real estate while in school and probably get a better, more legit real estate job. That said, the lack of experience will probably still impact the ability to get the so called "top jobs" (at least in WSO) parlance that is open for some of the grads of those type programs. Hard to understate this, the actual experience of getting a job out of grad school is not just the school/program, but also your prior work history.
If you have the money (or family does) and you just want to plow onward to grad school, there are def worst things to do with time. If you think it will be a magic cure all, be careful. Since it sounds like you didnt do much re coursework if any in UG, the classes in the MSRE type programs will probably be very relevant. But, an econ major is still very employable in entry level finance and real estate, but will have a steeper learning curve.
An alternative, you could seek "post graduation" internships in real estate (essentially a full time job, making shit pay, no benefits) to get some exposure/experience. If you did that for a year, then grad school, would be in better overall shape. Plus, it could lead to a FT job that actually pays well. I'd bet those programs will let you defer your acceptance for a year or even more, so it's probably not an now or nothing decision.
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