Master of Finance vs. MSRED for REIT/REIB Career Post-Grad

I've also been doing some research here as I'm thinking about a similar transition. I can't seem to find the related posts right now, but I think users @"Relinquis" @"re-ib-ny" @"Pinkpoloshorts" have given some good insights into this in the past.

If you look at the top brass or even those at the associate and VP level in REIB, REIT, REPE, you'll see they have backgrounds in finance, are probably CPAs, and probably did not come from RE development. I think an MBA from a top program with a focus in finance would be the best way in. Wharton has a strong real estate program, and even a mentorship program through its Samuel Zell and Robert Lurie Real Estate Center. I don't know how many of these students end up in REIT/REIB/REPE vs development, but I imagine they would have those resources/contacts available to them to get there.

For an example, check out the real estate VPs at Blackstone.

Crazy Lloyd Braun:

Have you considered development oriented REITs or large developers? Coming from project management, there is probably a solid story you could spin to break in with those companies. What tier MBA/MSF programs would you realistically be eligible to get in to?

Those are the types of companies I feel my skill set matches most closely with. MSF was an idea; I'm in Arizona and ASU offers an MSF which I could see doing along with some RE finance internship if possible. Majority opinion has said MBA. MSRED programs catch my eye too.

I'm mid-GMAT prep but I plan to apply to the following (assuming 700+ GMAT): --1 year MSRED/MRED programs: Columbia, MIT, USC --2 year MBA RE/Finance - UC Berkeley (Haas), UCLA (Ziman), NYU (Stern)

ASU is in state, UT Austin is #17 US News, but for the cost I plan to go to the best school I can get into :/

@"Crazy Lloyd Braun" was admitted into USC Marshall and UT McCombs last week. Sorry for the long delay--waiting to hear from UCLA Anderson, UNC Kenan-Flagler, and Columbia. Would targeting a REIB summer internship provide the most benefit for career prospects post grad? I like development and investment and would like to work for a well capitalized PERE firm doing development deals someday.

Ummm....I work in REPE acquisitions, but rather than answer directly I think I'll state the obvious....WHY don't you ask your MD cousin?!

If you looks at the profile page of a shop like Savannah most have MSRED from Columbia and NYU. Whether there was a stop in between I think depends on the network they built while getting those degrees.

On a side note; how long did you spend studying for the GMAT?

MSF may help you break into IB, but BB can be a stretch in my opinion. So many kids do MSF striving for IB at a BB, yet the majority fall short because UG students simply have better credentials. Realize it is a huge risk if it's BB IB or bust for you (regardless of the group).

MSRED is helpful, but your chances at a BB are slimmer. This is just a fact. It'll help you break in to the equity side, but you're striving for mega funds and it seems unlikely with a MSRED.

My advice: do research and find firms that are more of an allocator rather than an operator. Start there and understand the business model. Work 2 years, get an MBA and give the mega funds a shot. This will take a few years though.

If you want to work at a mega fund as soon as possible, then MSF is your only option. Not sure if you're open to this but look into MSF in Europe. BB firms in Europe are more receptive to them and they're highly regarded if it's from a top notch school (LSE, Oxford, Cambridge, LBS, etc). If location matters then just make sure to target schools that are located within close proximity to whatever city you want to work in.

That's all I got.

So would getting a MS in RE Finance and Investment or MS Real Estate Development from the usual suspects (MIT, Columbia, NYU, USC, Georgetown) give him a shot at an Acquisition role in a PE shop which he then can use to get to a BB? It seems the experience doing acquisitions would really help BB work since he would have real world experience at more of the asset level.

I understand this is almost an year old thread. Curious what you decided yellowmonkey. I'm also thinking almost the same lines. But the difference being that I already have an MBA, but not a brand name one, but from a Tier 2 college (I'm based in India). Right now, i'm in buy-side analyst role for real estate developer.

The options in front of me are-

1. Working my way up - Spend some time in the current role, say 2-3 yrs, take a shot at REPE (get CFA alongside,i'm writing L1 in june 15). Returns - I doubt i'd be able to break into top shot REPE firm, boutique firm quite feasible, average REPE firm- will need to put up a good show. Time frame(worst case scenario) - 3 yrs current firm, 3 yrs boutique firm -> then maybe a decent sized REPE/REIB. Risk - If things dnt work out, most probably will be stuck at some below avg job (relatively) and v less chances of whateva..

2. MSRED - Spend 2-3 yrs here (get CFA), i already have 2 yrs work-ex prior to MBA (not relevant though, software programmer). Total work-ex 4-5 yrs by that time. Take a shot at ivy league and likes specializing in RE, higher chances to take a crack at BB REPE (TOO OPTMISICTIC????) Returns - things work out, i'm happy. Time frame - 3+1 yrs. Risk - almost $150k investment. D/E = undefined, lol

Suggestion, comments everything welcome. Many thanks in advance.

I am sure the other guys can also wade in deeper on the more granular parts of your Q, but will toss in some info that could prove helpful.

From all the people I have spoken to, stories that I have heard, and even just sussing it out by reading innumerable resumes online - there seems to be a common thread of people landing very well on their feet from the MSc or MSRED programs: They worked either as an intern or an employee with target (so if they wanted PE they worked for some variant thereof) ~consistently~ while in school. They had this game plan going in and am sure leveraged off the many school mates (if they are or were working in the local industry or from the area and have a network that can be keyed off of) or adjunct professors (all working in the industry typically) that first semester to get an internship.

These people who made a success post graduation typically had 2-3 internships before they graduated (while in school), or worked for a company during its pendency that then bumped them from Associate to VP (many of the top firms require their VP's to have a Master's degree and even pay for it once the person gets to a certain level) once they obtained that Master's.

The ones that used the MSc as a career switching device post grad without this little nuance can spin their wheels in 'employ limbo' for much longer than they might like or hope. The above anecdotally based advice may not be on point with your Q, but it is important for anyone considering a MSc RE or MSRED to know. Shuffle through any career site which shows people working in RE with a MSRED/MSRE of this type - and you can see the impact the above M.O. has on their trajectory or lack thereof. The foot-in-the-door process begins the day you start classes, maybe even before.