Hi Guys
Im an international student looking to apply for a Masters Degree with the end goal of getting a job at a REPE/REIT firm (within the Acquisitions dept.) - I've got approx. 4 years experience as an analyst working for a private RE firm (in South Africa) and am dead set on pursuing the finance route (rather than the RE Dev.)
Currently NYU's MSRE is my #1 choice but I keep hearing both good and bad things about the degree! Any advice on whether NYU MSRE is better than say MIT/Georgetown/Cornell's MSRED program?
The major advantage over MIT/Georgetown/Cornell is the location. However, if you are looking to do it full-time, I would recommend Columbia MSRE since you can knock it out in a year (vs. 2 years? in NYU). But I do feel like the class size has become too large, and NYU's offering "certificate" really brings down its image, I think.
Not sure about getting to a job at REPE or REIT though. Among real estate finance folks in Manhattan, MSRE from NYU (or Columbia for that matter) is quite common. If you are an international, that would further put you at disadvantage since there are a plenty of U.S. candidates who had acquisition experience prior to the program.
Hi Iamyourfather
Thanks for the advice - I'm gonna do some more research into the Columbia MSRE (I've heard some good things but am not sure how rigorous their admissions process is) - I also agree with you re: NYU's class size, it makes the application process relatively easy.
When you say the "major adv. of MIT/Georgetown/Cornell is the location" - what exactly are you referring to (the prestige of the colleges/networking opportunities/potential employment opportunities following graduation)? From what i've heard Georgetown in particular has a great track record of it's students finding jobs following graduation?
Also, is there anything you would recommend (in addition to getting into Columbia of course) that would help bolster/improve my chances of getting a job in REPE/REIT (besides networking my ass off)? Maybe starting off working super meticulously in a similar/related job and then transitioning over?
Just want to note, REPE is very possible out of NYU. Just depends on your networking. If REPE isn't something you get right away, you can get into roles which will set you up for it down the road.
Pudding - Ok great, what type of roles are you referring to?
I've heard REPE is a realistic opp. out of NYU. Would you happen to know which shops have a relationship with the school?
Pudding - Anything is possible. I had a colleague who didn't know the difference between floating vs. fixed rate but still got into GS. Like I said, anything is possible.
People talk about networking all the time. But if you are the executive on the other side and have a position opening, would you contact the student that you just met through "networking" or someone you know more personally? NYC is a great place for finance people, but at the same time, once a position opens in REPE or REIT, the number of applications is just crazy.
MSRE from NYU or Columbia levels the bar, not exceeds.
Columbia and NYU both clock in for similar price ~$75k. Others have mentioned John Hopkins. That program shares a lot of professors with Georgetown.
And program directors. The JH director was at Georgetown for years
have you considered MBA?
Yes I have thanks, only issue is that I would prefer to focus on what I enjoy (i.e. real estate) rather than some of the topics/courses the MBA's, however if the MBA dramatically increases my chances of getting the job I want, I'd be more than willing to complete a couple of courses on entrepreneurship/leadership/business principles etc.
Are you currently in an MBA program? If so, would you recommend it to others in the RE industry?
Your experience sounds solid and if you weren't international I would probably even recommend against a masters in real estate degree.
That said, I second adding Columbia to your list and I would also look into John Hopkins as well. That'll give you two in NYC and two in DC. Cornell is a great program but Ithaca is a cold and unfortunate place and something like a 4 hour bus ride to NYC for internships and recruiting.
I would also look into good MBA programs with extensive real estate coursework, like UNC Kenan-Flagler and Emory. Since you're not going the development route, those could be better options.
Hey CRE
Thanks for such a detailed response, really appreciate it (sometimes it's difficult to know where to start with these things, especially as an international student who isn't familiar with the various cities and course descriptions etc.).
I will most definitely look into the Columbia + John Hopkins options as per your advice! Why you recommend against me doing a masters if I wasn't international?
Just one final question, Im a firm believer in the value of internships (I read that certain degrees have compulsory summer internships) - I suspect that this kind of thing is 99% down to the individual and him/her "making their own luck", but is there perhaps any advice you would give to me and other readers to maximise such opportunities?
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