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Are you planning on pursuing a Master’s in Real Estate Development? If you are weighing all of your options and you would like to take a degree program that will offer you the best return on investment, it is important to do your research prior to entering graduate school.
As an interdisciplinary degree, this Master of Science degree focuses strictly on real estate studies and is not just a specialization of a traditional Master’s in Business program. Read on to learn about the core areas of focus and what you can do with a MRED degree, and decide if this is the path that you would like to take.
What Core Areas Do MRED Programs Focus In?
MRED programs, while they are not new, are gaining popularity as the real estate market rebounds and more students are interested in pursuing careers in the sector. This full-immersion program will generally focus on six core areas of real estate. These core areas of study include: finance, real estate development, infrastructure, planning and policy, real estate law, and market analysis. The electives that students take can further develop their specialization as they are exposed to many different topics, which can range between urban redevelopment and industrial complex, to hospitality and suburban growth. By taking courses that focus on an investor’s perspective and a developer’s perspective, students can become experts on a wide range of skills in real estate.
What Types of Courses Are Required?
When you are choosing a real estate development program, the classes that you are required to complete will vary by school. While the classes can vary, there is a similar set of coursework that all students must take and credit hour requirements vary between 30 and 60 hours. Some of the courses that you will take to earn a Master’s degree once you already possess a Bachelor’s degree include: Advanced Real Estate Finance, Development Principles, Market Segmentation, Finance and Analysis, Real Estate Design and Sustainable Development. Some other electives that will be offered for grad students who want to earn a specialty include: Affordable Housing, Urban Development, Multi-family developments, and partnerships in the Public-Private sector.
What Can You Do With Your MRED Degree?
Know what to expect when you enroll in school, but knowing what you can do with the degree after you graduate is essential to making a wise investment. The average graduate student adds about $30,000 to their total amount of student debt. While this may sound like an extremely large amount of debt to earn a degree with M.S. initials, it has been found that professionals with a Master’s degree earn a salary about $13,000 higher than someone who has a Bachelor’s. If the same candidate were to earn a Master’s, they may receive a 1% salary bump, but not the inflated salary that new hires with advanced degree receive.
If you want to learn how to produce strategic real estate projects from ground up, you can learn all of the skills you need to work in an advanced role of development with a MRED degree. Be sure to compare all of the programs for quality, and choose a school with a good reputation in the sector. Prepare to apply to programs to earn your Master’s in Real Estate Development, and enter the industry at a good time.
