Masters in Real Estate: Worth it?
Anyone have theirs and can attest to whether or not MSRE is "worth it" for their career? I'm trying to to figure out my next steps. I have worked in REITs and now a private CRE retail firm (6 years experience total). I Started as an Accountant but have recently transitioned into more of a Financial Analyst/Asset Management role. I look at the credentials of upper management at places I've been and they almost all have an MBA or MSRE. I already have a decent paying job (120kish) and most of the feedback I've gotten to date is that it's not "worth it" unless you are trying to pivot into CRE w/o much experience or open the door for 100k+ roles. The MBA route seems more versatile, but more cumbersome to attain vs. MSRE. I'm just trying to figure out if the benefits will exceed the costs. For reference I would be looking a Georgetown or John Hopkins' programs (DC area).
[{"id": "fc67y0b", "text": "Have looked into those programs too. Feedback is they\u2019re ok but the main benefit is the networking. Decided against them personally.", "replies": [], "depth": 1}, {"id": "fc67zm5", "text": "I did an MSRE and loved it. The value in it really comes from the networking. Most of those groups have boards that are stacked with some of the most senior CRE execs in the area and you'll get communication with them that you'd otherwise never have access to. I found the program valuable as well, I learned a lot of things I've never fully used (appraisal, secondary mortgage markets, stats), but I know enough about them to be dangerous and that makes me useful. Mine was 10 months and about $20k and its paid itself back many many times over.", "replies": [{"id": "fc6b9e9", "text": "Where did you go ? If you don\u2019t mind me asking.", "replies": [{"id": "fc6d9vt", "text": "University of Florida", "replies": [{"id": "fc6h9kw", "text": "Have you looked into the CCIM designation?", "replies": [{"id": "fc6w7ov", "text": "Yeah, I'm like one ethics course away from it. I've never bothered bc I've always worked on the buy side or in management for big companies, I've never needed it.", "replies": [], "depth": 5}], "depth": 4}, {"id": "fc6i9ae", "text": "Thank you .", "replies": [], "depth": 4}, {"id": "fc6plhv", "text": "Go Gators!  It sounds like the program was very good and I think $20K for a graduate degree from a flagship university is a pretty good deal.  Even though you didn't become an expert in those various real estate disciplines, just having the exposure and knowledge is very valuable to your career.  Though I have a bachelor's in business from UF, I've never had academic training in real estate but I similarly have at least some knowledge of many areas which is made me very versatile in my career.  If there's something I don't know, I at least know where to go or who to ask for an answer.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fc691u9", "text": "I work in secured debt at a well-respected REIT that you've heard of and do not have my Masters (GW grad. Shoutout DC).  I got lucky by ingratiating myself with the right person starting out and have since proven to upper management that I'm worth developing.  Our CFO also does not have a post-graduate degree.  My boss was a real estate attorney with us before switching over to the business side.  I've seen lots of guys fresh out of B-school churn through this place bc they don't get the opportunities here they think they deserve.  They mostly move on to other companies and get better roles.\n\nBased on your story, I would agree that school isn't worth it for you.  You've already proven that you're competent and you're making a good salary.  If your current company isnt interested in your advancement, then I would look elsewhere instead of going back to school.  I wish you well.\n\nEdit: Another commenter said MSRE was only 10 months and $20K.  I did not know this and I admit it changes my opinion.  10 months/$20K aint bad.", "replies": [{"id": "fc7afbo", "text": "You didn\u2019t get lucky, this is how it\u2019s done in CRE. If you want to get ahead you got to know the right people and they have to like you.", "replies": [{"id": "fciqyen", "text": "Truly one of the nicest things ever said to me", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fc6hxxs", "text": "I didn\u2019t do one but from what I gather the programs\ncater to people straight out of undergrad or with &lt;2 years of experience.", "replies": [], "depth": 1}, {"id": "fc6q29r", "text": "I did one right out of school and loved it. I learned a ton and my program had great \u201creal world\u201d exposure. It prepared me for subsequent jobs and I frequently feel that I know much more general, all-around CRE knowledge than my coworkers. It helped me land my current gig in development as my boss is a huge believer in higher education. \n\nThat being said, in your case with your experience and current level of earning, it may not be of supreme benefit to you. Additionally, you must consider the opportunity cost for leaving your job and pursuing the degree.", "replies": [], "depth": 1}, {"id": "fc6tlao", "text": "I took night classes at nyu adult education I think it was called when I worked on wall street and wanted to transition into real estate.  to be honest I usually knock things like this but I got a lot out of it. the professor knew what he was talking about and although I didn't go for a masters I did it just to get some knowledge.  conpared to most classes I took in college which were useless this was actually helpful.  \n\nyou can always try it out see if it's up your alley.", "replies": [{"id": "fcjlrzk", "text": "Curious to hear more of this story as I\u2019m in the same boat. What type of position were you able to transition into and what were the classes like?\n\nI already have a brand name math/econ/engineering degree and have worked at a couple of the big financial firms so I\u2019m not particularly concerned about prestige points, just looking for education and to transition to something more entrepreneurial.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fc8il3d", "text": "I got an MBA. More recognition. There\u2019s no real estate masters in my state, and I\u2019m doing fine with out one.", "replies": [], "depth": 1}, {"id": "fc929fm", "text": "I just finished the MPRE program at Georgetown this semester and could not speak more highly of it. Shoot me a DM if you would like to talk more!", "replies": [], "depth": 1}, {"id": "fc965y1", "text": "I think it\u2019s a great idea for appraisers, investment sales, and mortgage broker types. You can jump right in on sales and leasing and be way ahead of where you\u2019d be after 2 years of MRE though...", "replies": [], "depth": 1}, {"id": "fcio4k4", "text": "IMO getting an MBA for commercial real estate only helps you with larger institutional companies. If you are looking to stay with a private company, probably not going to help you much.", "replies": [], "depth": 1}, {"id": "fcmks9f", "text": "do NOT go into a MSRE program solely for the purpose of leveraging it into a better position. CRE more than anything is about proving yourself on the job (as im sure you already know). I'd much rather have someone with proven deal experience vs someone with an MSRE. Trust me, this is how the higher ups/decision makers at top firms see it as well. However, if you truly want the education/networking opportunities of the MSRE and can afford it, then go for it.", "replies": [], "depth": 1}]