{"id":123,"date":"2025-06-14T08:43:09","date_gmt":"2025-06-14T14:43:09","guid":{"rendered":"http:\/\/www.spencerburton.org\/blog\/?p=123"},"modified":"2025-07-05T12:26:47","modified_gmt":"2025-07-05T18:26:47","slug":"why-i-chose-a-masters-in-real-estate-over-an-mba","status":"publish","type":"post","link":"https:\/\/www.adventuresincre.com\/why-i-chose-a-masters-in-real-estate-over-an-mba\/","title":{"rendered":"Why I Chose a Masters in Real Estate over an MBA (Updated 2025)"},"content":{"rendered":"

Going back to graduate school is a huge\u00a0commitment. First there’s the admissions process, which means spending hours and hours studying for the GMAT or GRE, filling out lengthy admissions applications, writing dozens of mindless essays, preparing for and doing informal and formal admissions interviews, and enduring the stress of not knowing if you’re in, or not. And once you do (hopefully<\/em>) get accepted, it’s expensive! Not only do you spend $50k – $200k on tuition, books, and living expenses, but you also miss out on one to three years of income that you otherwise would have earned had you not chosen to go back to school.<\/p>\n

Read our profiles detailing the top Masters in Real Estate programs<\/a>, the top MBA in Real Estate programs<\/a>, and the top Undergraduate Programs in Real Estate<\/a><\/p><\/blockquote>\n

To further\u00a0add complexity to the decision, if you’re wanting to work in real estate (think real estate development, finance, private equity, asset management, CMBS origination, REIT management, etc), you have to decide whether to attend a Masters in Real Estate program or an MBA program. Now don’t get me wrong, the rewards of attending the <\/span>right<\/em> graduate program more than outweigh the costs, but this is a big decision that should not be taken lightly. So allow me to explain the key reasons why I chose a specialized <\/a><\/span>master’s degree in real estate<\/a> over a general MBA.<\/span><\/p>\n

Update Note from Spencer:<\/strong> I originally wrote this post in 2015. Every few years, I update the post to keep it fresh and offer additional insights I’ve gathered since then. Also, since that time, Michael shared his reasons why he chose both an MBA and a Masters in Real Estate<\/a>. Be sure to read that to get a complete picture.<\/em><\/p>\n

\"CornellWide\"<\/a>

Cornell University – Ithaca, NY<\/p><\/div>\n

A Bit of\u00a0Context<\/h2>\n

First to provide some context, I am a graduate of the Baker Program in Real Estate at Cornell University (Baker ’15). The Baker Program is a two-year program, structured much like an MBA program, but focused entirely on the study of real estate. It is unique among real estate master’s programs in that it requires two years of study rather than one<\/a>, which allows students to complete a summer internship between their first and second year, and elect a concentration specific to their career interests. The Baker Program in Real Estate was the only non-MBA program I applied to. I was accepted to several top MBA in Real Estate programs<\/a>, but ultimately chose the two-year master’s degree in real estate for the following reasons:<\/p>\n

1. The People<\/h2>\n

“To get a step up in the world, you could use a ladder, or you could use your connections. I prefer the latter.” – Jarod Kintz<\/a><\/p><\/blockquote>\n

In the age of the internet and with the growing prevalence of natural language AI models such as ChatGPT<\/a>, virtually everyone has free and open access to education on just about any subject imaginable. Attending a formal graduate program, therefore, is about much more than just the coursework. In large measure for me, and for most people who attend professional graduate programs, it’s about the people. In a world where “it’s not who you know, it’s who knows you”<\/a>, graduate school is a great place\u00a0to grow your network exponentially.<\/p>\n

I chose a specialized real estate program, because I wanted to be around other real estate people. I wanted to interact and engage everyday with people who were equally as passionate about real estate as I am; people who would one day be the leaders of the\u00a0industry and to whom I could turn for assistance\u00a0as my own career progressed. In a typical elite MBA program, maybe 2-4%<\/a> of the class\u00a0is made up of students interested in real estate – and most of those are\u00a0focused on the finance side of the business. In a real estate program, 100% are real estate students,\u00a0with their interests spanning the industry\u00a0spectrum from RE\u00a0private equity\u00a0to CMBS, from\u00a0acquisitions to asset management. If you’re a real estate person, you’ll find that you’ll come away with\u00a0a stronger, more focused network at a\u00a0top masters in real estate program.<\/p>\n

2. The\u00a0Subject Matter<\/h2>\n

“Passion is energy. Feel the power that comes from focusing on what excites you.” – Oprah Winfrey<\/p><\/blockquote>\n

Graduate school is not undergraduate school. The idea is not to sacrifice two years of your life studying concepts you’re not that interested in learning. Graduate education, especially professional graduate education, is largely meant to advance your career. So why not take courses that align more with your career interests? As I weighed my graduate school options, I\u00a0compared the course offerings of MBA programs, to those of masters in real estate programs. I saw that:<\/p>\n