Masters in Real Estate / Masters in Real Estate Development : An Overview and Guide for Cornell, Columbia, MIT and Harvard.

Hello monkeys,
There have been much talk and speculation about Masters in Real Estate. I recently been accepted to a few programs including my target school and I decided to spread the research/interviews/and knowledge on these schools that I have gathered for the past 1 to 1.5 years. 
This overview and guide is my views and my views only; however all of it is supported by interviews with students - alumni - hiring managers - recruiting firms, alumni career paths on linkedin, evidence backed opinions on WSO, open houses etc. 

Some things to internalize before you begin 
- MSRE/MSRED degrees are not a silver bullet, even the name brand ones. Real estate employers will never fawn over and hire someone because of their MSRE/MSRED degree. Although eye catching and may slide your pinky toe through the door, 
- Experience is king. If you do not do any internship during or after school, it is very unlikely for you to be able to pivot to your desired field full time. This is the essence of real estate (which is poetic). ex. John from San Antonio Community College who operates and devs $10b of MF and chain smokes cigarettes will not consider a fresh student with no experience. 
- Network. If you do not plan on bonding with your cohort (international or domestic), you are doing a disservice to yourself and the program. Most people who come here find their RE "value chain" and life long friends. Network with alumni. Network with everyone.  But dont be an autistic tool bag because you got into Harvard/MIT or whatever.
- Most programs are about 50% international. 
- You need at least 2 years of experience, but i recommend at least four. 
- As of right now, 3/2024, RE job market is almost bone dry. 

My Stats:
Non-Target UG, majoring in finance. 
Experience: ~4-5 years in real estate finance and credit risk, NYC based.
GMAT: 680-720
Goal: Transition to Equity/Dev Side
Schools: Harvard Denied , Cornell Admitted with $$$, MIT Admitted, Columbia Admitted. 
As you can see I was a late bloomer and did not perform well academically. I got into some great schools and can largely thank my hustle, grit, and network. I came out of UG very determined to make amends and achieve my goals. I know that what ever school i go to, I will succeed 

Cornell (2 year program)
- Apart from MIT, the Baker Program is the only other program that can stand alone and is also so integrated with the main university. 
- This is the perfect program to make sure you get experience to soft pivot into the field you want to be in, given that it is two years. Internship is required during the summer
New Director of the program with very ambitious goals and funding. goal is to expand the program to NYC, etc. The board member, P. Rubacha, ex cornell ug, just donated $25 million to the program. -Thats very rare. Baker program has cash and scholarship money. 
- STEM designated. 
- Strong integration with MBAs, UGs, Law etc. Strong Cornell alumni base, not just Baker.
- Not as selective as the other schools, found that its average acceptance rate is about 40-50% . Source 
- This is a great program if time is not too important, you dont mind the Ithaca cold, and want to have the best holistic and comprehensive study of real estate academics can provide. 
- Very dedicated program, you go on trips, every week there is a speaker, etc. the school cares. 
-I would say that due  tothe alumni base- you will have a high networking yield rate and get your foot in the door. Not sure how far you will get with the hiring manager. 
- I would suggest getting a 650+ gmat and show strong desire in real estate. 

Columbia (under the Architecture house)
- Location, location, location. 
- Large cohort of about 90 and not as selective as the other one year programs. Half are internationals, most of which go back to their countries with a "name brand" on their resume. - - -- Consider how tight your cohort can be in a city with many social groups. Consider the network and yield rate. Consider competing with everyone in the world for jobs in nyc. 
- Some students are absolute ballers and clearly joined Columbia due to its location, scene and network. Some students are normal people trying to pivot. Some students are fresh undergrads. 
- A bit detached from the main school. Columbia MSRED =/= UG or MBA. Nor is there any co mingling. 
- Program director is ambitious and focuses on job placements and alumni/corporate connections. (our recommendations all got that email about keeping in touch). We'll see at the open house and will update.
- Only one career service woman for 90 kids.  no internship pipeline. Will see a the open house and will update on part time internships. 
- I suggest taking the gmat and getting a 650+. "makes the decision much easier" - per director. 

Harvard MRE
- Has been under the MArch program for a while and the recently admitted students will be the second class. Very selective , ~30 students, <20% acceptance rate with half being international. 
- Per a professor and adcom in the program "the best part of Harvard [ in general ] is that you are admitted to Harvard ... our admissions process is very very detailed... students who come to Harvard will succeed no matter what is thrown at them"
take that as you will. Students profiles are on their website. very accomplished. A bit of DEI. 

• Every employer will look at a resume with Harvard and , maybe this is survivorship bias, most Harvard MRE grads will succeed. Like i said earlier, the degree is vastly overshadowed by the individuals drive, grit and experiences. typical Harvard students already possess these qualities. 
• One year program with a practicum course (aka being a "intern" at a company making/experiencing high level decisions" 
• I know there is access to Harvard's RE community and alumni , i am not sure how well connected everone really is. I imagine that it is very strong and helps students get great roles, similar to Harvard's other grad programs. 
• Some absolute legends on the faculty team.
• Gmat is not considere at all. Essays are important and must focus on detailed career/business plan + how you will give back to the world. Experience and entrepreneurship is also key. Harvard loves big companies (REPE, Big Four, IB, your mom)
   

MIT MSRED
- Largely considered the best program in the world. Very selective. <20% acceptance rate with half being international.
- Faculty is full of legends and leaders. Very active director and staff, 
- Strong emphasis on giving back to communities and becoming a leader of change not $$$. 
- Strong alumni base, they pair you up and its a very active connection.
- Strong connection with Harvard MRE program and vice versa. 
the program can stand alone from the main school. Students are driven and active.
one year program with the ability to get your summer internship before your thesis. 
- Very lowkey a pipeline for some employers such as prologis. 
- Limited money for scholarships. 
- Not the most dedicated career services but drive makes up for it. 
- You have to know what you want to learn because one year flies. 
- Recommend a gmat of 680-720, per their website,  but as you know and have seen, stats dont mean everything. You can prove your analytical prowess through work, samples and recommendations. 

Thats all I have - im sure im missing something. The fact that many of you all are very proactive with networking and researching lets me know success is just around the corner. Good luck and I believe in you!!