Urban planning community

+ Reply to thread
Results 1 to 14 of 14

Thread: MIT MSRED candidates/alumni/prospective students

  1. #1

    MIT MSRED candidates/alumni/prospective students

    Hey all,

    I've been creeping on this forum for years. The community here has been such a great resource for me. I don't know how much I will be able to help others, but I'd like to be a resource here just like all the people who have helped me.

    I'm wondering if there are any MIT MSRED people out there? Are MIT MSRED'ers going extinct on this board?

    I got accepted in to the MSRED program for '13. I was hoping to see if there are any others out there. Maybe we could get a head start in getting to know each other before we even set foot on campus.

    I'm pretty nervous about the tuition, but can't put a price tag on something that I've been wanting to do for 10 years.

    Hi to all other MSREDs out there too!

  2. #2
    Member
    Registered
    Nov 2011
    Location
    Colorado
    Posts
    3
    Hi - I'm planning on applying to MIT MSRED program this fall for the '13-'14 school year. I was curious what your profile looks like - i.e. GMAT score, undergrad GPA, work experience, etc. Also, do you have any idea how many people are in your class for this upcoming year? I've read the class sizes have been a lot smaller the past few years.

  3. #3
    Hmm..
    Nothing special really..

    Undergrad GPA: ~3.2 GPA in business school with a real estate major (~3.7 GPA in 4th year and post-grad courses and I wrote a supplementary essay to explain my low GPA)
    GMAT: 670 (but equal verbal and math scores)
    Work experience: 3 years, large public and private sector real estate companies
    Extra-curricular: wrote some articles in a local sustainable building newsletter for developers, did some research for a local non-profit on social housing, completed CFA level 1 and very close to receiving my real estate appraisal designation.

    I was also very lucky to know a well respected professor in the real estate world to provide my academic reference.

    A book that really helped me was "The MBA Game Plan". I think it's helpful to look at admissions in to the MSRED program from a business school (think ranked 5-15 schools) admission perspective even though the process might be slightly different.

    I haven't asked about the class size because it isn't a strong consideration for me. My guess would be in the mid 20s. Last year they had 23 I believe.

    I have read about the concern over class sizes but I actually think it's an advantage of being part of a smaller class. I'm there to learn so having more time with some of the best researchers in the world can only be beneficial. For me, knowing that a class size is 25 rather than 150 means that I will have to contribute more to help create a great environment. If I'm thinking that, then there is a good chance my peers will have the same attitude. Soon after I committed to MIT, I was contacted by alumni and professors. They are really cool people on first impressions.. can't wait to go in August!

    Sure it's a minor bummer that there will be less people to network in my class, but that won't stop me from networking with people from Columbia, Cornell, USC. It won't stop me from networking with MBAs, engineers, planners or social scientists. I don't know, maybe networking is done differently in the States and people from other schools won't talk to me

  4. #4
    Member
    Registered
    Nov 2011
    Location
    Colorado
    Posts
    3
    Thanks! I really appreciate your feedback. I also scored 670 on my GMAT, so its really encouraging for me to hear that you got in. Did you attend the open house at MIT or their west coast 'open house' in LA, that they typically hold in September? I've been wondering how much attending that helps your chances at all.

    What other schools did you apply to and get in at? Right now, I'm planning on applying to are MIT, Columbia, USC and NYU. I've been working in commercial development since I graduated college (8 years), so I'm real excited the prospect of potentially going to one of these schools to learn more, as I really enjoy the business.

  5. #5
    Member
    Registered
    Nov 2011
    Location
    Colorado
    Posts
    3
    Is the book that you found really helpful called "Your MBA Game Plan"? I couldn't find any books entitled "The MBA Game Plan". Here's a link:

    http://www.amazon.com/Your-Game-Plan...7920821&sr=8-1

  6. #6
    I didn't attend any open houses. I wish I could have gone to a open house but I already knew that MIT was the school I wanted to go to.

    I only applied to MIT.

    I didn't consider Columbia or NYU. I did consider Cornell but only for their joint MBA/Real Estate program. In the end, I don't think I could afford the 2/3 years of an MBA. I'm sure Columbia and NYU have fine programs and I would have enjoyed attending them. However, one of my old profs knows academia better than I do, so I give his opinion a lot of weight. MIT, USC and Wisconsin were his choices for schools (based on the research coming out of them).

    For me the choices were: MIT, USC and top 10 MBA schools.

    Disclaimer on my school choices:
    From reading various forums everywhere, it seems like my goals for school are a little different. I am going back to school primarily to learn and research about my passion. I am not as interested on improving my career through school as others, but I admit it would still be a nice bonus. I feel that at the end of the day it doesn't matter which school I attend because it's character and professionalism (still improving on both!) that will ultimately drive my career. I've never been in a workplace where everybody had the same education background!

    All those schools have the potential to make it easier to get my foot in the door of my dream job.

  7. #7
    Quote Originally posted by mackiernan View post
    Is the book that you found really helpful called "Your MBA Game Plan"? I couldn't find any books entitled "The MBA Game Plan". Here's a link:

    http://www.amazon.com/Your-Game-Plan...7920821&sr=8-1
    Yep, that's the one. I have an older edition. It was really good at helping me set my thoughts and goals.

  8. #8
    Member
    Registered
    Jun 2012
    Location
    Mexico
    Posts
    2
    Hi,

    I am also applying to MSRED program '13-'14,
    The schools that I am interested are MIT, Harvard, Columbia
    Do you think I have a chance, o should I retake my GMAT

    GPA 3.9
    2 years work experience
    600 GMAT

  9. #9
    Hi Tussa,

    Sorry for the late reply. I kind of lost track of this thread in all my emails. Anyway, based on my knowledge of this year's class, both the GMAT and work experience is quite low. I have 4 years of relevant real estate experience but I probably have the least experience in my class of 24 students. I believe that the GMAT and work experience sort of compensate for each other. If you don't have a high GMAT, then you better have incredible experience and vis versa.

    Your GPA is high but that is really dependent on the school you attended. The GMAT is a more standardized measure that can be used to compare students.

    If I were in your shoes, I'd probably want a 700 GMAT with only 2 years of experience. That would make me more comfortable. But then again, it never hurts to apply.

    I hope that helps!

  10. #10
    Member
    Registered
    Sep 2012
    Location
    Greenville, SC
    Posts
    5
    Hey Canadian,

    I'd love to pick your brain a bit. I intend to go into real estate dev. and plan on applying for the 13'-14' school cycle. My GPA is a 3.78 from a public school (architecture undergraduate degree with a business administration minor). I am 23, and have two years of post undergraduate experience, but most of it is either architecture internships or various jobs trying to get by with only an architecture undergraduate degree. I have been studying for the GMAT, and will be taking it in the upcoming weeks.

    I have been weighing MBA programs versus M.Fin and MSRED programs. I have several friends at the Columbia MSRED program, and they seem to think I can get in without any relevant real estate experience. I have 3 questions:

    1. Did you consider any other programs other than an MRED or MSRED degree? If so, what options, and could you briefly write why?

    2. Assuming I could place into one of the programs, do you think I will hurt my chances of getting hired after the degree having no relevant experience beforehand? I know I might be the best candidate out of the class because I am simply younger (23) than most mba/msred/m.fin graduates, but I cannot find work currently at all.

    3. I am interest in an MBA because of the breadth it offers, but I am 90% sure I wish to practice real estate development after graduation. Can I still get into real estate as quickly with an MBA as an MSRED degree?

    If anyone else has any helpful comments, please fire away. Canadian, thank you sincerely for your reply!

    -Alex

  11. #11
    Hiya,

    By all means, I am not an expert in which degree would serve you best. I actually think that the degree shouldn't matter too much. If you want to be successful, you can't rely on a degree to do all the work for you.

    You have a nice GPA, but it doesn't mean as much as the GMAT. Your GMAT would have to be pretty high to compensate for just two years of experience. Architecture is a good match for the program though. We have about 5 archs in our class this year. The MIT MSRED program is a very collaborative environment. We share different perspectives from our previous work experience quite often.

    1. I considered USC and MBA programs (Dartmouth, Cornell etc) but I ended up only applying to the MIT MSRED because that was just clearly the best fit for me. I have an undergraduate business degree already, so some courses in the MBA program would be wasted for me. If I did not have a business background (some knowledge in accounting, HR, marketing) I probably would have gone with an MBA. As far as Real Estate Finance goes, if you want to learn it, you can fill your course load up with finance courses as a MSRED. MIT Sloan students are known for their quant skills and the finance courses you will take are in Sloan.

    2. I am one of the youngest students in my class, and I don't consider my youth to be an advantage. Could you explain your logic further on why being younger is more advantageous? I feel like companies that hire from MIT are looking for the best people period. It doesn't matter where you're from or how old you are. Experience is big. Without experience, I would say that you'd be completing more against MIT undergrads for jobs. Undergrads will be younger than you AND have great experience in their summer internships (I.e. Big 3 consulting firms etc.)

    3. Sure, I'd hire an MBA in real estate. The breadth can only help you as a real estate developer. There are very important concepts that I learned in my business program that are very useful in real estate. Many business schools have great real estate research coming out of them. Harvard and Wharton come to mind right away. Berkley also is a great school for real estate.

    Do you love Real Estate? if you do, you might be a good fit for the program. Most people in my class take 1 or 2 more classes over the graduation requirements just because they want to learn. The saying here at MIT is "We are trying to drink water out of fire hose". This fire hose is spraying real estate knowledge, so you better like it or you're going to have a rough time. Oh yea, good math/stats skills would be helpful too going in to the program.

    These are just opinions of course. Sorry for this lousy post, I actually have my first test tomorrow! I'll get back to you if you need more clarification.

  12. #12
    Member
    Registered
    Sep 2012
    Location
    Greenville, SC
    Posts
    5
    Oh dear! I meant that I am NOT the best candidate out there because i'm younger- left quite an important word out ( I know I might NOT be the best candidate out of the class because I am simply younger...). I agree with you, I don't believe my youth is an advantage, simply because I lack experience. This is my primary worry- as an architecture undergraduate, it has been quite hard getting my foot in the door to gain professional real estate experience. I am afraid without this proper experience, taking on substantial debt for an MSRED degree might not pay off.

    The MIT CRE website is very reassuring however- with the majority of students securing base salaries of $120,000. Do most CRE alumni you have met seem to be happy with job placement? The list of companies and firms is very helpful and informative as well.

    Your post was VERY helpful. Although I have always had an aptitude for math/stats, I was never pushed in undergraduate besides basic physics and statics/dynamics classes.

    Happy testing!

  13. #13
    Quote Originally posted by atomlin View post
    Oh dear! I meant that I am NOT the best candidate out there because i'm younger- left quite an important word out ( I know I might NOT be the best candidate out of the class because I am simply younger...). I agree with you, I don't believe my youth is an advantage, simply because I lack experience. This is my primary worry- as an architecture undergraduate, it has been quite hard getting my foot in the door to gain professional real estate experience. I am afraid without this proper experience, taking on substantial debt for an MSRED degree might not pay off.
    MIT runs older... doesn't want people without extensive experience. I guess it is also a good way to boost its post-grad stats. Other degrees in the East Coast accept people without RE experience (and eventually fresh from undergrad) if your stats are interesting for them.

    Quote Originally posted by atomlin View post
    The MIT CRE website is very reassuring however- with the majority of students securing base salaries of $120,000. Do most CRE alumni you have met seem to be happy with job placement? The list of companies and firms is very helpful and informative as well
    Again, MIT runs older, so previous experience is advantageous for after-grad salaries. Anyway, you shouldn't think a MSRED does miracles (not even an MBA does). The MSRED will be important, but it will be as well ur undergrad (very different if you are coming from business/finance or architecture) and previous experience. The graduation prospects of a) Business undergrad from UPenn and 5 years previous experience at Morgan Stanley RE are very different from b) Arch. undergrad and 1 year experience in local arch. practice. Same MSRED, but who is more likely to get the $120,000? Eventually one can get $180k and the other $60k, and they still get $120k on average.

  14. #14
    Hi, I am new to this forum and currently exploring the MSRED option. I have worked in real estate Private Equity for more than 5 years managing a number of real estate investments in south asia. However, I do not have any formal real estate education. I am looking to enrich my CV and work for few years in the real estate investments space in US.

    I would really appreciate of someone here can share their experiences/ knowledge on whether MSRED from MIT/ Columbia would help me and if you know anyone who had a similar profile to mine and went to do this course.

+ Reply to thread

More at Cyburbia

  1. Replies: 0
    Last post: 07 Nov 2013, 11:21 AM
  2. Replies: 0
    Last post: 06 Sep 2012, 5:43 PM
  3. Replies: 19
    Last post: 09 Apr 2011, 9:58 PM
  4. Replies: 4
    Last post: 16 Nov 2008, 1:40 PM