Need your help! MSRE
Hi guys,
Need some advice.
I have some experience in CRE acquisition (institutional, mostly core deals) through internships and have worked my wass off to get a FT offer starting September. The salary is correct (£40-50k) with 4-5 days of WFH per week, a small team so very very good exposure although I haven't really built a network and little to no sourced deals yet.
I have also received an offer to join a MSRE at LSE in September. I feel like this is a unique opportunity.
I have thought about doing both (work and study) at the same time, but is it really worth it given the tuition fees? The ultimate goal is to run my own PERE fund (value add/opp) in the £1-10m range. I understand that raising capital and networking are the most valuable skills in this industry. Would the MSRE help me with this? What would you do?
Thanks
Hi credon, any of these discussions helpful:
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If those topics were completely useless, don't blame me, blame my programmers...
PM'd you
Hi,
First of all, I would heavily discourage you if you are looking to join LSE MSRE over 'real work', but I have mixed thoughts on this as you are considering on taking both in parallel.
I would say the name value of LSE is literally what you're getting out of this MSRE. This could be beneficial when breaking into a larger shop in a couple of years time, but not a necessity (I'll explain below). Also, like you've mentioned, I agree that this name value could be a bonus when running your own fund, especially in the early stages when you have very limited track record.
However, I am leaning towards just working hard at your job, absorbing all the info out there. When just starting out, I'm sure this will fully occupy you (assuming you are driven to do the extra). I'd like to also add that it's good that you managed to secure the FT offer, and MSRE plays a very little role when moving to a bigger shop. To give you a bit of my background, I started off in a lending firm, did a few years there then moved into debt advisory. After a bit of that, I managed to move to the equity side and I'm now working at a mid-market REPE. Over the years, I've probably made at least 100 applications, and most of them were unsuccessful in the earlier years of my career. It was only when I took some time to really prepare what is needed and managed to secure about 10 offers (mostly REPE) in the space of 3-4 months. The reason I am saying all of this is to give you an idea that MSRE plays a very little role and it is so much more of the on-the-ground experience. I am seeing this over and over with my peers as well (many with top MSRE failing to land a good job, whereas I have peers with just an undergrad with relevant work experience moving to bigger shops).
At the end of the day, it is your decision, but if you think you won't be able to fully commit to your first year at your firm, it may be worth having a second thought. Also, do you know if you can defer that LSE MSRE for a year? It'd be nice if you could - see what full-time work is like for a year and decide.
All the best,
Jack
I agree with Jack. You'll likely get more out of both experiences if you defer.
You will be able to focus on your job and if you decide later to attend LSE, your prior experience will serve you well when recruiting for other roles.
I can confirm that this particular program does place into top REPEs. Echoing what Jack said, if you have prior experience, Acquisitions will be easier to attain. If you do not, brokerage is a popular initial option which later opens the door to the principal side in the future.
For starting your own fund, I don't think any MSRE will help you do that. This is achieved through earning experience and a solid track record.
Good luck with your decision and congratulations again for your job offer!
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