As this is my first post, I wanted to say a quick thanks to everyone on here. I have been lurking for quite a while and have found all the resources on here quite useful, so thank you.
I was admitted to Wharton and Columbia for my MBA and wanted to get your perspective on which of the programs you would recommend. I have seen some posts about Wharton vs CBS for an MBA more generally but not for a RE finance track. From a personal perspective, I would be happy at either school.
Background: I have spent the last 3.5 years working in multifamily development with my father in a good sized city (relatively speaking) in the Upper South. Since it is a lean company I've learned a lot about RE dev and gotten to help source and underwrite deals (primarily with our existing equity partner), lay out sites, design buildings, units, & amenities, manage the actual development process, plan and execute a value-add renovation, etc. etc..
Goals: After getting my MBA I want to go into a more finance oriented role within REPE in NYC and get some exposure to capital raising, the management and deployment of a fund (vs the individual assets like I have done to date) so that I can round out my skill set.
It's my understanding that Wharton is generally seen as the best / better RE MBA (barring specific geographic or personal reasons), if that is the case, is it significantly above Columbia in your mind? How significant is the advantage of Columbia's NYC location? For what it's worth, I have a small network in New York but nothing all that significant.
Being that I don't come from a traditional REPE background, but do have an understanding of the real estate business, would you see me being at a distinct disadvantage to a previous REPE guy or can I make up for most of that with a good summer internship (or two) before I start my full-time search?
Thanks again
This section makes very little sense to me. In the big funds Wharton / Columbia grads work at, you likely won’t get much exposure to the inner workings of the fund. You’re an associate putting together IC Memos, models, doing due diligence and property tours. It’s the most senior guys that make connections with the fund‘s LPs, raise capital / market the fund, establish a relationship with a fund finance banker, etc
If you want higher deal flow and more finance oriented work, then REPE is the way to go. But if it’s for the reasons above, I don’t see the point.
To answer your actual question, I think you should talk to alumni (primarily) and current students to make the decision. They’re both so close in quality that in the end your choice will come down to personal reasons