Grad Degree, wise to get into CRE?
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[{"id": "fod5s8t", "text": "With your experience, I can see you being able to somehow wiggle your way into a housing development analyst role if you\u2019re willing to network. Those opportunities pay similar to what you\u2019re making now, and you can learn a shit ton.", "replies": [], "depth": 1}, {"id": "fodaffg", "text": "I went full time and got a MSRE from DU (Denver). The school connected me with a multifamily reit for a summer internship with their development group. The internship helped me land a role as a development analyst at a prominent multifamily developer. I make 65k plus bonus with no prior real estate experience and now have 75k in student loans. MSRE allowed me to get my foot in the door in development and avoid working in brokerage.", "replies": [{"id": "fodcp4x", "text": "I\u2019m working in brokerage now with goals to work for a developer it\u2019s rough.", "replies": [], "depth": 2}, {"id": "fodpbn7", "text": "I'm in the same boat as you. Pepperdine (Malibu) offers a MSRE with emphasis in finance, which I thought about taking (it's pricey), but more than the knowledge itself, you're buying on it's network.", "replies": [], "depth": 2}, {"id": "fodw5g8", "text": "UDR?", "replies": [], "depth": 2}], "depth": 1}, {"id": "fodllr6", "text": "Honestly I don't think you really need a MSRE with your experience, or at least get it from a program other than TAMU, or even an MBA with a RE focus. It seems like the vast majority of the TAMU MSRE grad students come straight out of UG with no post UG work experience. You should be aiming to find programs with students with some relevant work experience to mix it up with or you'll be stuck with networking students still learning what a cap rate is and little to no professional network of their own. I would think some of the classes will be pretty basic to you as well.", "replies": [{"id": "fodtyjy", "text": "And from what I\u2019ve seen the TAMU grad students compete for roles with straight from under grad kids", "replies": [], "depth": 2}], "depth": 1}, {"id": "foduoen", "text": "I don\u2019t see much value in an MSRED program - more value in a full time MBA with a CRE focus (but I\u2019m biased because that\u2019s what I did). There were a number of career switchers in my class from all over the place (think like CPG / consulting / random stuff &gt; MBA &gt; CRE) and everyone graduated with a job in real estate. Of the ~20 of us, 1/3rd went developer, 1/3 went Wall Street PE/HF/IB, 1/3rd went like debt / broker / other stuff. MBA is a lot more useful IMHO because (1) you get exposed to people with real world experience, many of whom are already connected in CRE (2) it\u2019s fun (3) you get an opportunity to explore a whole ton of other careers you might not know of and realize that\u2019s what your really want to do. \n\nComing out with your background you\u2019ll find a job - probably not doing Wall Street finance, that\u2019s mostly people who came from it - but likely with a developer / bank / broker whatever. The first job out of B school doesn\u2019t matter; I\u2019m 5 years out and only one guy is still with his first shop out of school. Everyone else switches\n\nAs for comp it\u2019s pretty variable first year out, my class ranged like $100k-$225k, 5 years out I\u2019d guess we\u2019re all average cash comp of $250-$500K (excluding promote which guys are now starting to get grants of and its pretty meaningful). \n\nAnyways hope this helps!", "replies": [{"id": "foeez98", "text": "500K? This must be in broker side right?", "replies": [{"id": "fogivj8", "text": "Naw, PE / HF. Big funds pay well once you become a principal.", "replies": [], "depth": 3}], "depth": 2}, {"id": "foej5zf", "text": "How highly ranked was your MBA? I\u2019m thinking about doing the same program the poster is, but an MBA down the line with a real estate focus is actually a good crossover.", "replies": [{"id": "fogiz13", "text": "I went to one of the 7 \u201ctop 5 schools\u201d.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "foduot2", "text": "With your experience, I think you will be pretty bored with the classwork. Also, as someone who both entered and finished grad school (different program) in the last recession, my advice would be: Don't go to get that masters assuming there will be a job for you on the other side, from magically networking university contacts etc. Going into a recession, that's a hell of a risk to cut your income and spend your savings (and debt). That was basically my plan and it didn't go well at the time- YMMV. \n\nNo one can tell you what this economy will look like next spring or whenever the program ends, and it is ALWAYS easier to get a job when you have a job.\n\nI'd try to leverage any contacts you can through pwm to move in the direction you want, do school part time if possible, even though that is a PITA.\n\nI do totally get that \"now or never\" feeling about grad school, been there.", "replies": [], "depth": 1}, {"id": "foe0ryc", "text": "To get better salary. You need a broker license. CCIM designation. These days mba is fairly often, although esq. is now in the business. \n\nInitially I think no one will pay you that salary from the bigger public firms. I suggest you send out resumes ....", "replies": [], "depth": 1}, {"id": "foe8u9x", "text": "What do you want your career to look like in 20 years, not conservatively but if all the stars align?  At 26, you mostly likely have little liabilities and responsibilities.  Go for the thing that most excites you.  You already know what to do, this sub isn\u2019t going to provide you the reassurance to do it.  You live once, go and chase what you think will satisfy you the most.", "replies": [{"id": "foei506", "text": "This", "replies": [], "depth": 2}], "depth": 1}, {"id": "foeef30", "text": "Dude, if you have 5.5 year full time working experience, 70K is a little bit underpaid. After this program, I guess you can try to find some clients (like Japanese clients you have) to build a small fund. Or you can start a small fund now. Other comments mentioned about the TAMU program. I doubt TAMU program will gonna help you land a better job.", "replies": [], "depth": 1}, {"id": "foeh2ba", "text": "You have a solid background. A&amp;M MRE is solid. What about an MBA?\n\nHave you thought about going into Agricultural real estate? It\u2019s a niche asset class even within alternatives but has good returns and not a lot of competition. You can specialize in Agri business, crops, timber, wineries, etc. on both the equity and lending side. A&amp;M would be an ideal program for that.\n\n\nOtherwise, you\u2019re not too old to switch. I started my MBA at 27. You\u2019ll make min $110k afterwards (probably more now, not sure what\u2019s market for associates these days). I\u2019m 7 years out in CRE finance hit Director and making mid 6 figures now with equity on top. I\u2019d say my hours hit 50/week on a bad week, mostly 9-6 and I workout during lunch. Real estate is bomb.", "replies": [], "depth": 1}]