Unsure exactly what path in CRE (MSRE?)
I am a new graduate (December) and graduated with a degree in construction management and minor in finance. I worked several construction internships and have interned at a large development firm in Texas for the past two years doing mostly analyst work. I’ve really enjoyed the work but always thought about trying out other avenues in CRE.
I am currently set to start a MSRE in the fall because I figured I needed more of a finance degree to get a FT role in this market.
I have been entertaining interviews and reaching out to people in my market to get an idea where hiring market is. Ideally I could land a solid role at a good company and skip the MSRE. Do yall think with my current degree a MSRE is needed? (Have taken REFM & other modeling courses)
No full time offer from large dev shop? In this market I would stick with that if you can and then in a couple of years with more experience you could try “other avenues” easier. That’s my two cents from someone who just finished their MSRE and came from 3 years in construction management (civil undergrad). Markets brutal and a lot of people from my program and still searching for good roles (very qualified and hardworking people as well).
On the job experience is almost always going to be more valuable than a degree.
Also, if you want to stay in development, you're construction management degree will be way more valuable than anything finance related - the modeling is the least important part of the whole process; honestly you can literally do your math on the back of a napkin and be fine.
But the IRRs Ozy!
I would not do a MSRE/MRED without at least a year of full time experience, unless your options are literally "MSRE" or "unemployed couch surfing for a year."
My classmates who had prior work experience (even minimal, or real estate adjacent like architecture or construction) had an fantastic time in the job hunt. My classmates who did not, struggled.
In my limited wisdom isn’t it sensible to avoid any program taking people with not even 1YOE?
Perhaps, but those guidelines apply less to MRED/MSRE programs than they do MBA programs, IMO.
MRED/MSRE programs are far more of a free for all. The information you learn is actually pretty rudimentary, and far more suited for someone starting out, so you don't want to wait too long. I was bored out of my mind in almost every class with only two years of experience before I attended. Still, I and others like me breezed through both internship and full time recruitment while many of my classmates without prior experience, who arguably gained more actual knowledge from the program, struggled.
I think 1-2 years of prior experience is a sweet spot for these type of degrees, minus the small handful which require 2 years like Cornell I believe.
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