Wanted to start discussion about RE graduate options. We all know of the top programs where you go in-person, and take off time to complete. Many of us, myself included, are currently already on our way with a real estate career. I work in finance and acquisitions for a REPE firm, and have been contemplating adding credentials to my resume...either in the form of a MSRE, MSRED or a CFA. This is obviously a personal decision that requires great deliberation, however for the sake of this forum chat, I wanted to see who knew what about on-line options...
What I would like, ideally, is to have someone recommend top-tier respected on-line programs to complete a MSRE or MSRED. For instance, it appears that FIU is a great option as well as FSU and UD: http://www.onlinecollege.org/masters/real-estate/
Has anyone completed any of these programs? Or gone through the application process? Would love to get feedback. Also, for any veterans that might browse this RE forum (please, VP/SVP and up) - I think we'd all value your insight as to the opportunity cost of paying for a MSRE and doing it online vs in person...and maybe how that compares to just getting a CFA?
Most upper level management I speak with all agree that if you ever want to be an executive level employee at a well known shop, you need some type of graduate level credentials or a CFA to solidify yourself. If you want to go entrepreneurial or don't have interest in an C-suite position, many have said don't bother with the cost and just focus on maximizing experience. Thoughts on this? I tend to agree with them, however up until this point I have placed a strong emphasis on experience and not schooling - I starting working directly out of UG, and find that I have more knowledge of the industry and modelling that many of the newly stamped "MBA's" or "Master's" candidates...Friends that have done MBA's and even mid-level MSRE's often complain that htey feel behind the ball when it comes to real-world deal making experience, modelling, and FP&A activities...
as always - sorry for the rambling..
I think you answered your own question to an extent. We all know real estate is a relationship/network driven industry. With that being said, most larger real estate companies are starting to learn the value of graduate degrees in real estate and rewarding them accordingly. The exception to that are the people who went straight into a grad program from undergrad without any work experience. The experience in selling/buying something, whether as a broker/developer trying to unload/buy the property or a lender trying to push money or whatever, is still mandatory in real estate from my experience. That's the only way the old blood will respect the younger people coming into the industry.
I'm saying this as an analyst currently, but will be starting the Georgetown program in January pretty much due to the fact that the SVP and VP of my group kept pushing me to do a masters program somewhere.
Great program
Experience is better than school overall IMO, but is very much dependent on the situation. I had a good job (associate level at a big REPE firm) before I got my MSRED at Columbia - a job that many of my classmates would've been ecstatic to get.
THAT SAID - I didn't go to school to necessarily find myself in a better job at graduation. I went for more personal reasons - to broaden my horizons a bit, to meet interesting people, to travel, etc. And all of that happened, and it was totally worth it.
I make less money now (I work for a CRE technology startup that helps people make RE financial models), but it's very interesting and I would've never met the founders if not for my graduate degree.
While I was debating going to school I did look into online programs (NYU among them), but ultimately decided that a big part of why I wanted to go to school (aside from the "prestige" of having a good master's degree) was to 1) MOVE somewhere and learn a new city, and 2) meet new people. Those things don't happen via an online master's program.
Good luck.
Do you like the RE tech business?
I like it a lot. As mentioned, of course the money (at least now while we're still a "startup") isn't going to be as good OR have as much security as a more corporate job, but there's something nice about being an early contributor to a business that you believe in. It's also very nice being a part of a small team working in a small office - something I hadn't experienced before starting with Assess.
OP, I would check out Virgina Tech 4ever's post in this thread about Georgetown's online MSRED, it may give you pause about online real estate master's programs: http://www.wallstreetoasis.com/forums/georgetown-masters-in-real-estate…
I think for what you are trying to accomplish, if there is one in your city, a respectable part-time or executive level MBA program might fit the bill.
Honestly, don't do it. You won't gain anything from the e-network and you probably won't learn anything you didn't already know. One of the only complaints I have about getting a Master of Real Estate degree is how elementary and/or pointless the coursework was.
Either go to a MIT-type Master of Real Estate program or try and get into a top 15 MBA - either an exec program locally or a good one year MBA program (Northwestern, Emory, etc.)
What's the deal on the NYU online MSRE or MSRED. I live in Dallas and the closest program to me is University of Texas at Arlington MSRE. Outside of that I'll have to do a MBA with TCU, UTD, or SMU with a real estate Concentration.
Don’t do that
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