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Thread: Job placement woes: real estate development

  1. #1
    Jul 2008

    Job placement woes: real estate development

    Anyone concerned about post-grad job placement?

    As a local New Yorker, I am completly confronted with the increase of Wall Street layoffs, or any other FI employers, for that matter. Not sure how much RE sectors in these businesses are ultimately affected though...

    I am applying to MsRED programs soon to ideally go into a RE finance development. Between the mortgage crisis and lack of employment openings in finacial firms, I am worried about gaining an employment in this field post graduation. (Transitioning from current architectural experience).

    Not only that, but there might be a large influx of applicants from those currently w/o jobs that are taking this opportunity to go for their masters.

    Open for discussion-

  2. #2
    Jul 2008
    Baltimore, MD
    I don't think you can predict what is going to happen 2 years from now and basing what degree you get on what the economy is doing today probably doesn't make a whole lot of sense. Think about if we all would have planned to go into IT programs in 1999 when the IT market was booming. By the time we would have finished, we'd be made virtually unemployable by the collapsing IT market... You never know what is going to happen with the economy. Just do what you are most interested in doing regardless of worrying about economic swings. The best strategy is to be flexible and not pigeonhole yourself in one or another specialties.

    There are a couple of important points here:

    1) I doubt a lot of people are applying to any programs that are real-estate related, if your worries are any indication... I would probably expect the opposite, that such programs would be in low demand.

    2) I would be more flexible about whatever you are doing... Don't hedge on one or another concentration within your degree program and be open to moving into other areas, like community and economic development, planning, consulting, ect... Really, it is that flexibility and the internships you take in the program that matter more than the degree itself. Like most planning-related degrees, RED is a fine degree for a number of different positions within the development context, if you are flexible and creative enough to make it work.

    3) If you are interested in finance specifically, then you probably would be better off with an MBA and concentrating in finance or real estate in my opinion. An MBA would give you a little more flexibility to get into more business-oriented jobs, related to real estate finance or not...I suppose then, you'd be better off asking questions on another forum related to finance...

    Hope that helps. I feel for your predictament but sometimes we just have to stop following the herd about the economy. The stampede isn't necessarily going to give you direction (if that makes any sense)...

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