I know the MSRE vs. MBA topic has been discussed here multiple times, and I have read through the old posts. I wanted to share my situation/goals and see if anyone here could shed some light on some of my thoughts.
- Analyst in acquisitions for a large owner/operator (mid/lower tier PERE 50 firm)
- End goal is NYC development (Macklowe, Silverstein, JDS, Naftali, Extell, RFR, TF Cornerstone, Time Equities, L&L, etc).
- Complete non target school on the east coast and ended up in acquisitions in LA/SF area.
- My thoughts are to work here for a few years, get a masters, then pivot to development
I'm trying to prepare for my eventual masters, and in doing so trying to decide on MSRE vs MBA. Below are my thoughts:
- Targeting Wharton or Columbia (largest RE presence)
- From a linkedin search, many people at firms I would like to work at have MBA's from these schools.
- Pros: great network to have, opens many doors, optionality with the MBA. Have fun for two years.
- Cons: Cost (would take on some serious debt, could maybe have ~50k saved by the time I'd go for my MBA), lots of preparation (GMAT, volunteer stuff, etc.), might not be able to even get in to a top school (3.85 gpa, non target), forego two years of FT experience + pay
I already have RE experience. However, a program like NYU Schack appeals to me for a few reasons.
- Very large NYC alumni network (network being a big reason to go for a top MBA as well)
- Can complete full or part time
- Much cheaper than a top MBA
- It would allow me to "rebrand" in a sense, gain access to a great network, and concentrate in development
- Many people at shops I want to work at also went to NYU
- No GMAT required
However, I've heard that the NYU program can be hit or miss, has a very large acceptance rate, and since I'm already in RE, does it make sense?
Random questions/thoughts: Is the MSRE a "cheaper" version of an MBA for real estate? Do people really care about MSRE vs MBA, or is an advanced degree a "check the box" type of thing? Are they respected on a similar level when applying to jobs? What doors would an MBA vs. MSRE open for me after a few years in acquisitions at a relatively large name firm?
As always, its probably more about who you know (network, network, and network some more), but I'd love to hear some comments if anyone here made the same decision