Views on MIT’s MsRED

Hi Monkeys,

Wanted to see your views/experience on MIT’s 1 year Masters in Real Estate Development Program. I am considering applying and making it dual with an MBA from Sloan’s School of Management. Any guidance would help.

 
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There's zero reason to get both an MSRED and an MBA. If you're doing an MBA and interested in real estate, just take whatever specific RE classes you want to take from the MSRED program's courses.

MBAs obviously provide access to a wider range of career options than MSREDs. On the other hand, they take two years and cost twice as much.

Within real estate, the MIT MSRED would get you access to pretty much the same set of job opportunities that the Sloan MBA would.

A couple of caveats to that statement. First, the exception is probably top-tier REPE jobs, some of which would be easier to access with an MBA. Second, you have to control for the quality of the applicant. Part of the reason that top MBA programs place well is that their students are very talented, which would be true even if they didn't attend those top programs. MSRED students tend not to be as good as MBA students, although there are exceptions. MIT's MSRED program is probably at or near the top of the list, but that's still going to be true on average.

Finally: if, per your title, you're already in PE, why even go to grad school? I would try to network into a real estate job first. RE development is partly about finance and partly about building physical buildings. The finance part, which is the part you already know, is the part that's easier to learn in school. The design/construction part is not taught that comprehensively in MBA or MSRED programs because it really can't be. The only way to learn that stuff is to be around it a lot. MSREDs and MBAs are better for people with design and construction backgrounds who want to learn finance than for finance people who want to learn design or construction.

 

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