Hey guys, what were your reasons for pursuing an MBA, coming from an RE background and going into RE post-MBA. How did you communicate it to the AdComs thru your essays? Just trying to understand how to spin off switches from one vertical to a different one in RE (Eg. Debt to Equity etc.)
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Why do you think you need an MBA when you're already in RE to go back into RE? Why not just an MSRE/D?
Would people view a top MSRED program (MIT / USC) the same as a top MBA (H/W) in the real estate industry? Assuming you can get into both? (I understand it’s quite difficult) Also, are MSRED worth the cost, assuming you’re already in a RE role at a REPE?
No
And more than a bit pointless to do both
More information is needed.
I would do it only if you care about the networking and personal branding. If not, you'd be forgoing a year or two of real world experience which isn't worth it imo
appreciate the responses guys! thanks so much.
although, looking for people who have already gone the MBA route? want to see how they spun their stories to the AdComs
Unfortunately for the OP, none of the comments address his original question. So, I'll attempt to do so.
Currently at one of the top b-schools. I may or may not return to real estate, but my pitch was to return to real estate. As you know, there are a few MBA programs with amazing real estate programs. At those programs you'll have access to hiring opportunities that you wouldn't otherwise have access to unless you have an elite undergrad education or rare personal connections. So if you want to work in a different role and at one of the exclusive firms, you have part of your pitch right there. Adcoms expect clear explanations of short-term and long-term goals, and you can work that in.
Adcoms also know that real estate isn't rocket science. So if you want to run a big real estate company some day, you can explain how running a business is not the same as executing on an asset-level business plan, and how you'll get a lot of value from developing the skills needed to scale a business to the regional and/or national level. Or, if you want to rise to the C-suite level at a REIT, those skills are from b-school, not an MSRED program (cue a debate about this, but there's no debate in the minds of Adcoms, and that's what matters here). Adcoms do expect you to have audacious goals, but not absurd goals, and sometimes the lines are blurred. Keep in mind they're pitching their value as training the business leaders of tomorrow. So you must convince them that you expect to be a business leader, not just some guy doing one-off deals on his own.
Agree with all of the above. I was in RE lending prior to MBA and now work on the principal side. I would emphasize what skills/experiences you are looking to get from b-school and how those will advance your goals of running/scaling a RE firm.
Hey, thanks so much to everyone bringing this discussion back to the focus of this post. In response to you, yes this is exactly the transition I'm looking to make as well. What skills would I need to focus on while making a pitch to the MBA admissions team to move from lending to PE?
Hey, thanks so much to everyone bringing this discussion back to the focus of this post. In response to you, yes this is exactly the transition I'm looking to make as well. What skills would I need to focus on while making a pitch to the MBA admissions team to move from lending to PE?
Agreed that no one addressed OP's original question, but think we need a bit more detail. For example, having the goal of moving from AM to Acquisitions would yield a much different essay than transitioning from debt to equity investing.
Springboarding off your top b-schools comment - who do you think the top 5 MBA real-estate focused MBA programs are?
Wharton/CBS/HBS/MIT/UNC?
McCombs MBA with a RE finance concentration isn't too shabby
Wharton and CBS are the top 2 schools with dedicated RE focuses. HBS is a better school in general, but doesn't focus on RE as much. The majority of the top RE firms start at Wharton and CBS, but there are also regional factors at play. For example, I hear great things about UNC for RE.
MIT's MBA program doesn't have a big RE contingent, and their MSRED program only has ~30 students. Wharton and CBS both have 200+ students in their real estate clubs, respectively, and any student that wants a RE job get hired.
For the rest, I'd have to look at the MBA real estate competitions and see who shows up consistently. That's usually a good indicator of a consistent focus within the school.
Hey, trying to transition from RE lending to RE equity investing (PE)!
This is a helpful post. How is the recruiting to the top REPE firms from your school?
Sterns? Top 5 or no?
Top school for NYC RE. Lots of alumni support, guest speakers, and career resources
While Stern does have a solid MBA program, its clear from both alumni LinkedIn profiles and each school's employment report that NYU is the second best MBA program in Manhattan.
Most of Stern's real estate grads place into family offices (nothing wrong with that), rarely do they place into competitive megafund positions.
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