To MBA, or not to MBA?

105 Replies

Step 1: Get out of NYC... Maybe you love it there and thats your choice, but get to a cheaper RE market, with lower cost of living and start setting yourself up for success. 

Step 2: Go get into the RE game. You don't need an MBA to be successful. People want to see experience and an MBA doesn't mean that you have any. 

Step 3: Find your niche and scale. Figure out the niche you want to focus on and the market that makes sense for you and scale up. Focus on growth and having RE become a big piece of your pie. It doesn't take long if you are creative, hard-working, and willing to take some risk. But the longer you wait to take the risks the less risk you should be taking since retirement is around the corner. 

Note: I went into the corporate world out of college, immediately bought my first multi-family to live in and rent out the other units and have quickly found a way to get to 31 units within just a 3 years. My corporate salary has been replaced and now I have the time where if I want to go back to get my MBA I can... But I dont have that desire any time soon. 

Best of luck to you!!

YOu may want to try to get a full time, yet entry level position at one of those commercial firms which interest you. There are many that promote from within and you will be further ahead in 3years than if you get the MBA. 

Is the MBA something you could do in the evenings while retaining your job and benefits?

I would hesitate to go further into debt, over getting related work experience. Any job at the real estate company will give you valuable insight and experience in that area. 

I have to agree with @Bart 

@Bart H.

I have an MBA because I took night classes and the company paid for it and made allowances for taking classes at night. I would not do it unless the current employer paid for the whole thing. I obtained the MBA(paid for by the employer), I received a rather Large salary increase upon graduation and it kept increasing at much larger scale than the ones who didn't have MBA. Having said that, there are 2 breeds of people who have MBAs. 1. who gets MBAs because they think they have to get an MBA because all of their friends/colleagues have it, but they don't have that aggressiveness that MBAs degree holders can take adv of (cut throat, step on top of other people, take other people's territory by stepping on top of them comes to mind). If you don't have that aggressiveness, please don't bother spending all that time/money getting MBA, it's a huge waste of time/money .  2. People who knows they have to get an MBA to become someone in this cutthroat W2 world in order to survive and not get laid off.  

You are smarter than me, I wish I had asked this question 13 years ago but I don't think BP was around back then?

Hi Christopher, have you decided what path to follow since you asked the question?

I can relate very well as I have been working in FP&A for several years and have been considering doing an MBA, however I plan on acquiring RE before that, and if I do decide to study, it would be part-time.

Another advise that could apply regardless of whether you get or not your MBA is aquiring other skills that are highly valued if you work in financial analysis. If your are not already, become an expert in excel and know how to do financial modeling well. Learn to use macros and power bi. All of these can be achieved at little or no cost, other than the time you put in.

Hi Christopher, have you decided what path to follow since you asked the question?

I can relate very well as I have been working in FP&A for several years and have been considering doing an MBA, however I plan on acquiring RE before that, and if I do decide to study, it would be part-time.

Another advise that could apply regardless of whether you get or not your MBA is aquiring other skills that are highly valued if you work in financial analysis. If your are not already, become an expert in excel and know how to do financial modeling well. Learn to use macros and power bi. All of these can be achieved at little or no cost, other than the time you put in.

@Javier Osorio I actually decided against the MBA as many people who posted advised. The more I thought about it, the harder it was to justify the cost. I also realized there was no guarantee an MBA would land me a job in a new industry. I did, however, end up doing a real estate investment program at NYU School of Professional Studies where I made some great connections and learned quite a bit along the way. 

Thanks for the advice regarding FP&A. I'm a pretty strong Excel user and have done quite a bit of modelling. I still need to learn macros, though. 

Best of luck!