Hello,
So I've been working at a Private Equity real estate investment firm for 2 years now and I am interested in pursuing my masters. I got my undergrad degree in Economics at Harvard and I want to know what would be the best route to take. I love the real estate industry and I plan on one day opening up my own shop. However, which would grant me the highest ROI?
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I got a dual masters MBA/MSRE and I felt it was totally worth it as it sort of was like becoming a doctor before becoming a surgeon. Just network like crazy and learn as much as possible.
In your situation, with experience on the principal side and the “school in Boston” on your resume, I’d give it a year or two and try to aim for the best MBA you can. (Or just skip grad school all together.)
I’m a big advocate for MRED programs, but by the time you attend you’ll know 75%+ of what you’ll be taught and you’ll be in class with people who are looking to get to where you already are today post-graduation.
Since you are already in real estate, I would probably go to a top MBA program that has a strong real estate alumni and even concentration (Wharton leads this pack in my opinion, but far from only leader). If you cannot get accepted into top MBA (I would think you would given UG background and career, but nothing guarantee in this world), then a highly recognized MSRE/D would be next option.
Personally, if you are going to move up and around the high levels of REPE and institutional investment, I think you NEED a grad degree these days, and increasingly risky to move forward without. But, this NEED is really for the top tier, major markets but helps at all levels. If you are opening up your own shop, an MBA network from a MBA business schools">M7 program could be mega helpful in raising money. I'm not an Ivy grad, but I've had plenty of meetings at the Ivy clubs in NYC (the Harvard one is amazing if you haven't visited), I totally get why 'membership' can have its value.
Redever - I see you mention the importance of an advanced degree for the higher levels of RE often. Is there that big of a difference between an MBA business schools">M7 and NYU MSRE, 5 years after you get your degree if you're committed to NYC real estate? Asking because I don't have the caliber (undergrad GPA) to make it to an MBA business schools">M7, but have been admitted to NYU Schack and plan to utilize everything I can while there.
Also, big fan of the Cornell Club! I'd assume you have been there. First time I went, I showed up in a JLL pullover and the member who invited me was worried we wouldn't be seated, lol
In terms of network and degree value, yes. There is worlds of difference.
By that point in your career, your personal success in the industry should start to eclipse what degree you got and where you got it from, but there really isn't any comparing a Harvard/Stanford/Wharton MBA with a NYU MSRE.
This is matter of opinion and as they say, YMMV. I think the WSO and 'student' world overstates the value of an MBA business schools">M7 MBA relative to other "top" programs in various regions and field (NYU is the top tier of the MSRE/D world). This isn't to say they are not high value degrees, they are. It's just that getting one isn't always the guaranteed golden passport some think it is (you will see failed and semi-failed people out there from HYP and the like, humans are humans after all).
Frankly, MSRE/Ds are really valuable for career switchers and those who don't know real estate at all. It can totally open doors. If you already have experience, know how to do real estate analytics and analysis, and basically are 'in the door', then the marginal value of the MBA business schools">M7 MBA is way higher (as is your chance of getting in and getting a top job coming out). That is part of the key to MBA business schools">M7, real/legit job experience is required for admittance and a big part of why the recruiting is good coming out. Most MSRE/D programs (NYU included) do not really require any experience and are easier to get into (of course, many have tons of exp, esp NYU given you can go part-time in NYC). I think this explains the difference in placements partially, it's not just network.
In truth, comparing the MSRE/Ds vs. the M7 MBA is going to matter tons for first job out (which is critical of course), after that, the marginal advantage will be much, much less. NYU/MIT/Columbia/Cornell MSRE/Ds will get you an interview at pretty much every major real estate firm and developer if your resume/skills/gpa otherwise support such move. Networking can power you past some of those deficiencies. What you will not get (in most likelihood) is an internship or entry level analyst/associate spot at Blackstone and those type of employers. They pretty much look at very top MBA candidates, and even if you have one, it will not be easy. So, if you are a hardo for BX or that set of firms, it's legit to say MBA business schools">M7 or bust. If you are set on REPE 50 or major/regional developer, most recognized MSRE/D programs will do just fine.
Worth noting, NYU alumni have reciprocal access rights to the Princeton Club (the 'worst' looking of the Ivy clubs in NYC) and it is actually across the street from NYU Shack midtown location. So, NYU will get you into an 'Ivy club' if that really matters to you lol.
haaaaa in what world is HSW comparable to NYU? can't even compare HSW to Stern dude, what the fuck do you think? your shitty msre from NYU won't do shit except put you in debt. better just stay with whatever back office job you have at JLL and hope you make it to admin assistant for your dipshit lead broker one day.
fucking real estate clowns. let me know when you want to play in the big leagues of IB.
edit: oh wait, you've been to the cornell club, so sick dude! reciprocity with princeton club too?? fuck yeah man, I take everything back. real estate is the way to go.
Thanks for your input, intern.
Now fuck off. And go rank something.
IB isn’t the big leagues, PE (including REPE)/HF/VC are. Maybe tech in a couple years but big maybe. Wtf who brags about sell side? Are you good?
Source: myself, everyone in my BB IB group tried to get the fuck out of IB as soon as possible. Shitty pay for shitty hours and pointless, mind numbing work. Buyside over IB any day of the week.
This is categorically false. I don't even think I'll type a structured reply as it appears you are just a shitposter.
lol ok intern. Don't you have some PowerPoint slides to color, or do you always wait until 2 AM to do that?
MBA son. Your profile simply screams MBA, probs MBA business schools">M7. I'm sure you could make it.
Best of luck! You're in a really good spot.
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