Structural Engineer to RE development, what/how can i switch over?
Been working at a small structural firm in NYC for about a year and not really liking it. I was originally planning to work in structural for about 4 years to officially get my PE (Professional Engineer) license but thinking about a career change. Should i go right into an MSRED program without much work experience (looking at NYU/Columbia)? I have been thinking of first switching to the construction management side working for a GC and taking some financial modeling courses on the side.
What are the typical roles in RE development for former engineers/architects?
If your end goal is to be a developer, I would personally go for an MSRED. I think both options are viable, but in construction mgmt you might be spending more of your time learning things that are nice-to-haves and not need-to-haves as a developer.
I see development as being the quarterback for construction, architecture & design, engineers, legal, consultants, etc to get deals done. My fear would be that you'd be 1 foot wide and a mile deep with construction mgmt experience, while as a developer you want to be a mile wide and a foot deep, knowing enough about all the different consultants you need to work with to be dangerous.
That being said, you should do what is most fulfilling if you can help it. If you like the construction side and you have an opportunity, there's no harm in going for it, and if you find it harder to pivot into development from there for whatever reason, you can always get an MSRED later.
Thanks for the reply, do you think it would be easier to go from a design consultant (structural) or Construction management to development through networking? Is it advisable to get an MSRED without much real estate work experience or hold for an MBA?
100% CM to development would be easier from networking vs design consultant. Far more of the project budget goes to construction, and its a much more common path.
I did it but I also got an MSRE. Market is tough right now, so you will need to network very hard.
CM would probably be easier from a networking pov. You're interacting with development throughout a longer portion of the process and understanding construction & how development thinks about hard cost is probably more valuable than being a structural design consultant. More facetime w/ development and more clearly applicable knowledge makes CM the clear choice imo. I think MBA vs MSRED is program specific. I think NYU/Columbia/USC(if you're interest in west coast) have reputable MSRED programs in their respected markets - Sounds like you're on the east coast so NYU/Columbia are probably the best options. That being said an MBA from a top tier program would probably be better- better network and better on the resume.
My opinion is to go for a MBA. That means getting your PE and “finishing” (wrapping up) your experience as an engineer.
For your MBA admissions essay, write that you want to be a developer post-MBA, as that’s the field that is very logical the next step (but be a developer of unique things; more below). I’d consider top part time MBA’s as well (Haas, Kellogg, Wharton), which are three years while you work.
While in MBA, take RE courses and seek RE internships/ full time work (quit engineering once you find the job). However, also leave the door open to niche real estate, physical AI, and operationally intensive hard asset business (vertical farming comes to mind from a Haas grad who grad around my year, just as an example).
The world is moving at a fast pace, and there could be spaces where you combine the RE skill set; your prior engineering background, and something you are passionate about that the market will reward.
Thanks for the detailed and helpful info, would you say general consensus is an MBA is better than an MSRED? Ill admit my undergrad engineering gpa (3.2) is not great and top MBAs have very competitive admissions profiles; looks like MSRED programs like NYU/Columbia dont really publish admissions stats.
My opinion is it depends on your personality and your immediate needs. I see the MSRED good for getting you into the real estate industry faster, since the program is shorter. I see MBA good for building a career that might include RE, but might be more diverse and broader.
The MSRED generally is Taylor made for someone with your background (architects and engineers looking to work on the client side).
If your personality is “that’s what I’ve always wanted to do” (be in development); “my spouse has the crazy career and I’m just trying to have a career that’s relatively stable and that I enjoy”; “I love buildings, very interested in the type of slurry wall we are constructing”; then by all means continue on the solid path you are on. 9/10, probably the MSRE is enough. I have industry friends like this.
If your personality is, “I’m an engineer and I know development is the next path because I want to be an owner, but I’m interested in many things and eventually I might run different types of businesses”; then, the MBA might be a better long term environment. I am like this (I ended up leaving development and working on the operations side, while supporting our development partners among other things).
I think they both will help you get to your next job for the next 5-8 years (Eng > MBA > development).
Immediate needs are like need to career pivot quickly (not happy with current path); international students with less flexibility to work in the US, but want the solid education brand; those hell bent on a RE development career. These favor MSRED (I try to help students every year). They get interviewed by great brands.
At Haas, it was like 5% or less of the MBA students were in RE, historically. With the rise of MSRED programs, I’m going to guess that if you do apply to the MBA program, you should articulate why the MBA over the MSRED (in a subtle way). Writing about growing trend of tech and the physical world is gold right now (ie Mechanical Engineering undergrad enrollment at my alma mater the University of Hawaii is up 25%). I think you can reposition your structural engineering background to fit the trend; and how project management experience combined with learning to think like an investor in development (and have vision) might lead to something even cooler in the future.
This is how I see it. By no means is your fate sealed by choosing MSRED or MBA.
Looks like NYU has a good part time MBA, if you want to stay in NYC and can work and go to school.
An MBA will cost twice as much and take twice as long, and it's only likely to provide advantages over an MSRED if A) you decide to pivot out of RE into a different field, or B) you want to be hired by a real estate private equity firm, or the most prestigious tier of RE companies like Related (and then only if you can get into one of the very top MBA programs)
Need to get a top MBA/MSRE (though I’d lean toward MBA personally). It can not be a bottoms tier program especially in this market - if you can’t make it into a top 50 program don’t bother.
Your path will then be to start as an analyst at any gig you can get even if not at a developer (probably avoid banks though) - do not take a CM development role at any cost if you go back for an MBA. You are probably qualified for something like that now with out an advanced degree (or take the two years to get an owners rep job focused on your asset class you want to be in and try and bridge into this role). I’d probably take a bank gig before this tbh if you get a grad degree.
SE honestly doesn’t provide a lot of value compared to being a contractor, or even an architect pivoting to a developer. It will however give you an edge for finance as the Math portion should be really simple to pick up and most contractors and architects who pivot tend to be weak here. I have seen folks make the pivot from SE to development though but you need to understand there are folks with direct developer experience either out of work or on the sidelines doing something adjacent waiting for a development gig to open back up. You will be competing against them for jobs.
I would not take the decision to pivot lightly - network and talk to folks, really figure out if you think you can do the job. The truth is most engineers do not have the tenacity to be a developer - you need to be honest with your myself and decide if you are one of those or one of the few who do.
Good luck and happy to provide more advice if this is helpful.
This reply was very helpful, can I PM you?
Est sequi optio est provident minus culpa. Totam placeat temporibus ad aspernatur est. Porro facilis odio quod totam mollitia.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...