Tough decision: JHU MSREI/GEORGETOWN MSRE/NONE?
Hello all! This is my first post, but I am not super new to the forum. I am having a bit of a problem deciding what to do. I am currently a senior in undergrad, with no professional experience, studying history at a top public university, and have always had a passion for real estate. Recently, I was fortunate enough to get accepted to the JHU MSREI program with a really good scholarship, and I am super excited about the opportunity. However, after reading some other discussions on this forum, it seems that Georgetown's master's degree is potentially a better option. Unfortunately, due to a lack of professional experience, I am unsure that the GT program is right for me. I'm stuck. Should I take the JHU opportunity? Try and get into GT? Or disregard both and try and get some relevant work experience? I should note that I am not trying to get into a BB IB as I know neither program is suited, but I am trying to get a placement in CRE. Any and all advice on the matter would be greatly appreciated and I hope that you all have a great rest of the year!
Edit: I am also new to the industry so I apologize in advanced for any ignorance, just trying to learn :)
Have you toured both schools and/or talked to professors and students from each?
Thank you for the reply, I have toured both the Baltimore and DC campus for JHU, and have spoken extensively with the professors and directors of the programs. They seemed super nice and excited about the program, though I can assume a small portion is to sell the program, but I'm not complaining. For Georgetown, I have has less time to take a deep dive, but from the information I was able to gather from a representative, they were looking for people with experience within the field, which I unfortunately don't have. I should probably try and get more info!
Best case, I’d find a job in CRE and do neither program.
However, the hiring market is borderline nonexistent right now so that could be very hard.
So if I couldn’t find a job in commercial real estate- I would take a “good” job in the DC area at say Deloitte, Capital One, Boeing, some local investment bank, etc. Would do my best to make it finance related. I’d make good money and when the hiring market heats up again I’d recruit very hard for CRE entry level roles (getting an ARGUS cert and completing a modeling course to show my interest). I would not attend either JHU or Gtown.
If I still couldn’t get a job I liked in CRE after 2 years, that’s when I would attend JHU or Gtown for my MSRE (at night while you’re still working) or wait it out another couple years and do a MBA with a focus on real estate at UNC.
Thank you for the comment! That was my thinking, though I think that the best chance I would have would probably be at capital one as a business analyst which wouldn’t be a bad gig. If I were to try and break into one of the MM IB in the area, would you recommend I try and start the process for certifications like the FINRA SIE or CFA level one?
BA at Capital One pays very well. Take it if you have an offer.
After you do your 2 years at Cap One; recruit for CRE (if you still want to be in it) and explain that there were no jobs when you graduated and you want to be in real estate. Truly no need for the MSRE. I’m assuming you attend UVA which will only make your life easier in the DC area. Don’t stress about it and enjoy making good money. Real estate is getting destroyed right now and you’re not missing out on anything.
No clue on IB stuff
Ya, I’m attending UVA, I wonder what gave it away XD. I’m curious for BA, at what point to they tend to hire and is there anything I should be doing to prepare? Thank you for your great advice!
Capital One I have heard is doing a sizable lay off coming up in 2024Q1, due to the lack of natural turnover. They are very particular and elitist, so you got to go into the interview with confidence, especially if you do not have a Finance/Mathematics/Econ degree. I have many clients, friends, and former co workers there. They are a horrible interview process. But they pay well and great benefits.
I'd try Deloitte, they have picked hiring back up and CRE likes the transferable skill set. Get onto a team working with Federal contracting for underwriting or valuation and transfer those skills. Most places will care about your internships and degree right now with how bad the Finance and Real Estate market are. They are finishing up layoffs and will start hiring selectively probably summer 2024.
There is a prior thread on here about how bad the 2023 grads have it and can't land anything in the industry. Though originations are starting to pick up it's mainly Refi's and renegotiation of subleases of office and retail.
I'd get my masters honestly if you have the money set aside and can take another 2 years off, then transfer into an internship. I know Fannie and Freddie did layoffs but they were selective and will be doing rotational program
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