MS in Real Estate Development.. no W/E?
Hi all,
I am super interested in commercial real estate, especially development. I went to Cornell undergrad, and unfortunately was not laser focused during my time at Cornell. I am a senior graduating this May with a little over a 3.3, and had no luck with real estate recruitment. Fortunately, I have a good job lined up, but not at all related to real estate or finance. I still want to break into the industry however and am lining up option and trying to make a plan so I do not make the same mistakes in undergrad. I am interested in MSRED programs, specifically Columbia, Johns Hopkins, and Georgetown (not tryna head back to Cornell due to its 2 year program and personally hated my Cornell experience) as ideally I want to be either in the NYC or DC area, and other top programs like MIT and USC require pretty heavy related work experience. I hear mixed reviews about MSRED programs, but I feel like it would be a good foundation to learn technical concepts in real estate, build a solid network, and become a career changer. I do not want to enter the program too late as I want this career switch sooner rather than later. I was thinking of working for 2 years and saving up close to a hundred grand then going to one of these programs (my privileged ass can have my parents front up to around 40 grand, so debt isn't a huge worry of mine and plus I figure this will pay for itself down the road). I really like Columbia's focus on development, but I also would not mind being on the acquisitions side of things especially starting out.
I am just wondering what are your guys' thoughts. Would I be able to get in with ~2 years of unrelated work experience? What is my potential coming out of these programs without prior related work experience? What steps can I take now to position myself the best to get into these programs if that is the route and have a successful outcome?
Thanks!
Best way to position yourself is with a strong GMAT and work experience. The w/e doesn't need to be relevant to CRE as a lot of those in MSRE/D classes don't have CRE experience or any at all and want to transition like yourself.
I think the best way to get to your goals is strong GMAT like I said and possibly taking a few online classes in RE finance, accounting, etc to show your interest in CRE. Doesn't hurt to teach yourself a few things too like modeling and concepts on the side just to broaden your knowledge.
I still think you should try to get some sort of CRE experience for a year or 2. Just to make sure it is an industry you want to be in. I think it’s a waste of money (although you are loaded) to get a Masters degree, just to break into the industry.
Yes, but you shouldn't. You will be at the bottom of the class starting out, knowledge-wise, and at a disadvantage when it comes to both internship and full time recruiting.
An entry level job - which both sucks when you put the time and money into getting a graduate degree and is achievable through networking.
Get a job in the industry - it almost doesn't matter what - and do that for a year. Your experience in grad school and your opportunities in the job market will both be far more elevated as a result.
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