NYU vs Baruch college MSRE
Hi guys,
I moved to new york in 2015 and this is my 5th year in America. Recently I was accepted by Baruch and NYU for ms in real estate program and as you know, NYU costs 90k and baruch costs 15k for new york resident. I am still debating between which school should I go to. I am from japan and I am working as Cpa in small cpa firm in Nyc. Due to I studied my CPA after I came to america, i have 8 months start up experience and, 8 months banking experience as mortgage underwriter, and now I am working at CPA firm and will be licensed this Dec. I want to get my expertise in real estate and Taxation first as cpa and focus on commercial real estate investment/finance on the future. My goal is working for a commercial real estate development/investment firm and have my own company in the future. I don't have any degree in US, so I always wanted to have any kinds of degree. I think I should get 50K loan if I go to NYU. NYU is a good name but not sure it it work for that a lot of money. What you guys think?!!!!
I can't speak to Baruch's MSRE, but the three most well-regarded MSRE/D programs in the Northeast are Cornell, Columbia, and NYU. Generally, the weaker your background/experience with regards to pivoting to CRE roles, the better it is for you to choose a more well-known MSRE program with a stronger alumni network.
The NYU MSRE, on its own, will not be your golden ticket into front office REPE / REITs / Development firms. Given your lack of transferrable experience to these kinds of roles, you'll need to put in the work in either programs (Baruch or NYU). That means participating in graduate clubs, putting significant hours into networking, and pumping up your RE-related extracurriculars.
That said, the pivot to CRE from an unrelated industry is a well-trodden path at NYU. If you're dead-set on breaking into high finance real estate roles via grad school, there's no better place than any of the "MSRE/D trifecta" programs I listed above. In my opinion, tapping into the NYU alumni network is absolutely worth the cost in your case--assuming you also go above-and-beyond your peers.
However, if you don't consider yourself someone who thrives on networking, and/or someone who can't stomach career risk, neither of these programs will be very good for you. What I mean by career risk is potentially starting off your post-grad career in "transitionary" roles that are in/related to CRE, but not exactly what you're looking to do. Many of these roles are related to sales or are closer to the property management side of the industry. They are also great careers and have their own merits--but not what you'd pay 90K in tuition to break into. Just keep in mind that you may have to "pay your dues" in one of these roles before networking your way into a more suitable career path for your goals.
Top MSRE programs are essentially real life "pay to play" packages--if you have the ability to pay for it AND make the most out of them, they'll be your cornerstone of a successful career in CRE. But you also don't need them if you hustle hard and find other, less traditional ways to break in.
So, I am in NYC, didn't go to either school, but know many NYU'ers....
I think NYU is the 'big brand' which some will need for their top level institutional real estate careers. Everything RE-PE said is right, it is not a 'golden ticket', but many from the program it amazing jobs in CRE with zero real experience when they start the program (many do internships while in the program).
Baruch has a fine reputation, but not the connections, I doubt they teach that differently. The subject matter is the subject matter (NYU has more types of classes im sure due to its size). If you don't care so much about the "brand name" of the firm you work for, and/or are really a hustler.... then it probably doesn't matter and you can save the money. That said, you do kinda get what you pay for.
If you are happy to work for smaller, local type firms in the NYC area... then Baruch may do the job just fine. If you want to go work in Japan or anywhere else nationally or globally, NYU is the ticket (they have a big alum base in Tokyo actually).
Search this topic, it comes up often on WSO.
Should add, Fordham also has a program now, all former or current NYU and Columbia profs. I think they are trying to be 'NYU lite' or something like that
You can PM me if you’d like to chat. I was a CPA, once interested in taxation, then worked in commercial real estate, have some background with Japan, and live in the United States.
I don’t know the difference between either of those schools (I live in San Francisco), but can talk about the big picture. Usually with international students (or anyone), I try to match your past with present and future.
Never hear anything about Baruch’s program or can even find many alumni on Linkedin.
Why would a firm hire/target/recruit from Baruch when they have the pick of the litter of thousands of students from Columbia/NYU?
NYU for the brand and the network
NYU hands down
Nothing against Baruch, but it doesn't have the network or brand that NYU does, esp in RE. You'll get more looks for jobs from NYU.
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