Clemson MRED Program

Trunk Yeti's picture
Rank: King Kong | 1,393

I got my acceptance to Clemson's MRED program about a month ago, but have been hesitant to pull the trigger on it. My main concern is the cost (55k for 18 months). I'm just not sure if I can justify taking on that much debt without having a better idea of what entry level pay is.

I've been told by some of the program's staff members that entry level compensation within the Southeast (Atlanta/Charlotte/Greenville) is about 80k; is this accurate? Assuming that the information is accurate, how quickly does compensation increase? I know that compensation in real estate development isn't as black and white as some other industries, but I would really appreciate some guidance.

Comments (31)

Feb 19, 2017

Step 1) Ask for a list of alumni who attended the Clemson MRED (you can get this from admissions or by doing a little digging on LinkedIn, etc..)
Step 2) Request brief informational calls with said alumni and ask these questions; trusting a school's website (particularly for unranked programs) is great but it is critical to do your diligence on this decision....you only want a program that will help you get to where you want to go. Alumni are the ideal people to speak with...where are they working now? What were their first jobs out of the Clemson MRED? How was placement in general for their graduating class? What types of jobs did people get? Did all their classmates get jobs?

Good luck--if you follow the above, you should be in a better position to make a decision!

Feb 19, 2017

Compensation after the program will be very dependent on your internship/prior work experience. Are you currently an undergrad student? If so, you'll probably start as an analyst and $80K will probably be too high. If you come in with 1-2 years work experience before the program, $80K is probably likely. However, I don't attend the program or have too much knowledge about it, this is just my assumption about MSRE/D programs in general.

Feb 19, 2017

Yea I'm currently an undergrad graduating in May studying finance. Currently interning at a boutique IB doing M&A.

Feb 19, 2017

Can you try to land a full time REIB role or go to a shop like Eastdil/HFF upon graduation? This would open many doors (including development) down the road and you may not have to even go back to school...

Feb 20, 2017

I may or may not be incredibly familiar with the program...

Ask away

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Feb 20, 2017

How were the internship/job opportunities during/immediately after the program? Did you feel that the price tag was worth it?

Feb 21, 2017
Trunk Yeti:

How were the internship/job opportunities during/immediately after the program? Did you feel that the price tag was worth it?

Internship and job ops range from the best in the country to ones you kind of shake your head at. I interned at a top regional developer whose name you would recognize and some people I know interned at national REITs, at international companies on the corporate side, and with developers of all shapes and sizes. There are alumni on Greystar's development team, with the Rockefeller Group, with Amazon, with USAA, and a number that run their own shops. There are also alumni at some local and regional developers. That's mostly based on personality and prior experience - real estate is very much a networking-based industry and there are only a limited number of actual listed positions to apply for.

As far as the price tag, that's hard to answer because I think higher education pricing is bullshit throughout the spectrum, but it is far more cost effective than say Johns Hopkins' MSREI program or UNC's MBA program, which were two of the others I was targeting.

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Feb 20, 2017

If your serious about development you don't go to school for it. Honestly the best thing to do is start off studying the residential market by looking for deals to flip properties on Zillow. You would be amazed by the type of people flipping properties and making great returns. Every huge developer who is self made essentially began there careers flipping properties. If you want to build your own company than finding deals through sites like zillow and getting hard money lending are the way to go. Or you can do an mred and just become an excel junky working for some big firm where you see a little part of each deal or you can take risks, buy property, learn how to deal with contractors, and organizing financing. Real estate is about experience and not learning from some dip shit professors who don't even participate in the market. Look at Michael stern from jds development , the guy didn't even do an undergrad and without a doubt he is the most successful young professional in real estate as well as completely self made.

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Feb 20, 2017

Its easier to go from commercial to residential than it is to go from residential to commercial.

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Feb 20, 2017

Real estate is just money essentially it doesn't matter commercial or residential. You buy property cheap and put a strategy together to create value. It comes to a point where do you want to be the guy at 30 who's been hustling the streets flipping residential and commercial properties building up equity and a reputation or the guy at 30, who's been an analyst for 3 years and then an associate for 5 working on parts of deals under a bunch of execs without completely controlling a deal and being the lead contact. Kids these days take the safe route, and think that whatever company they work for will just teach them the skills to do their own deals. I crack up when I see people going to get a mred or MBA just to become an analyst or associate. If your a true developer you take that tuition money and put together a deal.

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Feb 20, 2017

I couldn't disagree more with this statement. Not everyone is going to become a developer from "flipping properties on zillow". You don't learn how to build a property from the ground up by flipping properties. MRED programs now-a-days are providing backgrounds in the legal, finance, and construction environments as well as giving you the key relationships that you need to be a developer.

I'm not saying you can't become a developer from flipping properties. It's definitely a good way to build relationships. But discouraging someone from getting an education in the field of real estate and telling them to risk their youth and career on a whim of "flipping properties" is ignorant.

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Feb 20, 2017

Haha ok buddy

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Best Response
Feb 21, 2017
ATL RE:

If your serious about development you don't go to school for it. Honestly the best thing to do is start off studying the residential market by looking for deals to flip properties on Zillow. You would be amazed by the type of people flipping properties and making great returns. Every huge developer who is self made essentially began there careers flipping properties. If you want to build your own company than finding deals through sites like zillow and getting hard money lending are the way to go. Or you can do an mred and just become an excel junky working for some big firm where you see a little part of each deal or you can take risks, buy property, learn how to deal with contractors, and organizing financing. Real estate is about experience and not learning from some dip shit professors who don't even participate in the market. Look at Michael stern from jds development , the guy didn't even do an undergrad and without a doubt he is the most successful young professional in real estate as well as completely self made.

First of all, love Atlanta - great city.

I have to disagree with your assessment though. Studying the residential market and learning to flip properties on Zillow is great experience if you want to be a single family house flipper, but flipping single family houses has so little to do with class A ground up urban infill development that they might as well not be in the same industry. A MRED is not a golden ticket by any means, but to act as if you can learn everything there is about the industry by flipping single family homes is as laughable as thinking that flipping single family homes makes you a developer. You can come out of these programs and be an "excel junky" but you definitely don't have to and you can learn to deal with contractors and organize financing without having to take personal risk, which is a more intelligent way of going about learning.

Finally, it's "you're." You learn that kind of thing at school.

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Feb 21, 2017
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