MSRED vs. MBA vs. Work experience

Background: 25 yrs old, BA in Arch, 3 yrs exp in Development in Egypt

Hi Everyone,
I'm working in a development company on multinational projects of all types (Residential, commercial, hospitality...). I get to set development visions, overview design, build financial models, prepare business plans and the work is great. But the pay is horrible and moving up the ladder is very difficult because I'm young and I went straight into development after graduation which is not the case at least here in Egypt. Most people spend 5-7 years average (in technical design or PM) before moving to this field at entry level positions.

So I'm considering applying for a MSRED (MIT/Colombia/Cornell) next year for these reasons:
1. It might open up employment opportunities beyond my home country
2. If I come back to Egypt I'll have a step up considering that the market is full of MBA holders but none in MSRED
3. It'll boost my background in Finance and help in the decision making process

So what I'm asking is:
1. If I already have experience in the development field is there added value in getting MSRED. I read that a lot people get it when they want to shift careers.
2. Which programs do you recommend for someone who already has experience in real estate development?
3. What are my chances to find a job in the States after graduation? If anyone with similar International background can share their experience
4. In practical work experience development is very location specific so I'm wondering if what I will learn in MSRED will be also location specific so I'm better off with an MBA if I were to stay in Egypt

The cost of the degree is ridiculously expensive so I need to make sure I'm putting money in the right place.

 
Best Response

Some thoughts based on my own experience in school with foreign students working towards similar goals you have mentioned above (in order of your numbered bullets):

  1. MIGHT is a big might. The reality here is finding a firm to sponsor a foreign student is incredibly challenging and many firms will not sponsor a non-citizen employee. I'm not sure why this is--perhaps it is more costly for them? Many if not all of my non-US classmates had trouble finding an internship and all of them that I can think of failed to land a full time gig in RE post graduation--they are pursuing other paths at the moment.
  2. This could be true, though your degree for differentiation purposes is only as valuable as the credibility (and familiarity) that industry people attach to it. You should ask around to see how people view an MSRED/MRED vs. a top MBA to get better data on this/steer your decision.
  3. 100% agree here. Just make sure you literally compares the various RE finance course offerings at the different programs you're considering so you don't show up day 1 to find out there are only X classes available when you were led to believe there were X+3, etc...

  4. I would recommend writing down all of your 'gaps' or weaknesses and in addition to those, items that you personally want to master/learn more about. Then evaluate various programs through that lens and you WILL leave having learned what you set out to in the first place. I didn't attend an MSRED, but am led to believe that a top MBA > MSRED for development jobs out there. A quick linkedin employee search on various companies' employees will either confirm or refute that statement.

  5. For full time MBA (with real estate coursework), look at Wharton, Harvard, Columbia, Kellogg, Berkeley, UT, UNC; for MRED/MSRED, you can look into MIT, USC, Columbia. Also, there are MSRE programs out there such as NYU's that could be interesting. Again, I'd recommend setting up an excel table, give each program a column and evaluate each based on any/every parameter you'd like and you'll start to see which ones make the most sense for you.
  6. See #1 above. It is very tough for internationals, but you DO have past experience so this could help you out. The thing is, are you willing to stay in the US long term? I personally think employers don't want internationals to bounce after a couple years to their home countries so peg them as a hiring risk off the get go, but others on here can probably expound on that.
  7. From what I understand, you'll get the framework at all of the programs. The curriculum may utilize case studies/site visits pertaining to the local context but I don't think viewing MBA vs. MSRED from that angle is necessarily the right way to do it--again, try to focus on 1) which degree will help you get to where you want to go 2) what courses do they offer that will directly help you progress in your career and 3) where have international students gone to work in recent years (and what % of internationals have jobs at graduation...admissions will answer this one for you).

Good luck!

 

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