Real estate is an appealing industry for many reasons: low barriers of entry, a flexible schedule, and enormous sales potential. However, if you want to move up in the industry (and increase your salary along with it), you’ll need to pursue the higher-level education and expertise that top-tier companies and business partners demand in today’s dynamic markets. For several positions, that means earning your Master of Science in Real Estate.
Below, we’ve collected a list of the impressive job titles and salaries that an MSRE can prepare you for, as well as basic information about the degree and different real estate industries.
What is a Master’s in Real Estate?
A Master of Science in Real Estate (or MSRE) is a graduate business degree for professionals who want to take their real estate career to the next level. Similar to other master’s degrees, an MSRE provides you with more specialized knowledge in the field, prepares you for valuable industry certifications, and unlocks a new tier of coveted job opportunities. While some people enter into real estate with just a license, an MSRE signifies a deeper, more nuanced skill set and is often necessary to even be considered at most high-profile companies.
There are a few options for master’s level real estate degrees: the Master of Science in Real Estate (MSRE), Master of Science in International Real Estate (MSIRE), Master of Science in Real Estate Development (MSRED), Master of Science in Real Estate Management (MSREM), and an MBA in Real Estate, to name a few. Each program has unique features and course concentrations that will influence what jobs for which they will most adequately prepare you.
The online MSRE at Yeshiva University, for example, is ideal for professionals who want to advance in their career or shift their focus to explore real estate finance in all its forms. This program goes far beyond securing properties and closing deals; if you’re looking to rise as a real estate agent, you should explore master’s degrees that have course content specifically for that position. For more in-depth education in investments, developments, brokerage, trading, banking, and management, an MSRE from the AACSB-accredited Sy Syms School of Business is an excellent choice.
Identifying Your Industry
A big component of growing your real estate career is determining which industry you’d like to focus on, or which specializations you’d like to claim. Again, this can also influence which MSRE program is the best fit for you, as classes will likely be geared toward a particular category.
There are four main types of real estate: land, residential, commercial, and industrial. Land is generally focused on undeveloped land and vacant properties, though it can also include working farms and ranches. Residential properties are wherever people live, whether it’s a single family home or a condominium complex. Business and retailers occupy commercial spaces, and factories, construction, and warehouses are common examples of industrial real estate.1Depending on your interests, you can sometimes fluctuate between real estate types, though clients often are drawn to professionals who specialize.
8 Job Titles & Salaries for MSRE Grads
Once you’ve chosen the real estate area on which you’d like to focus, explore the opportunities that an MSRE degree can open for you.
1. Commercial developer
Average salary: $80,7602
In simple terms, commercial developers find, buy, enhance, and sell properties for a (typically) larger price from what they originally paid. While the size of these projects can range, it certainly involves a considerable amount of technical, legal, and industry-based knowledge. An example of a commercial development project might be to buy a large parcel of land, rezone it to fit multiple buildings and homes, hire contractors and architects to build the homes, then sell the individual plots for a sizable profit.
Average salary: $67,2103
If you’re keenly interested in financial real estate, then becoming a real estate analyst should definitely be on your radar. Analysts support almost every aspect of the real estate process, from financing and acquisition to marketing and leasing. Based on their market research, financial assessments, and economic forecasting, a real estate analyst will advise real estate companies on how to best use their cash, then work one-on-one with investors, buyers, or sellers to negotiate and finalize deals. A state license is required to become a real estate analyst, but a bachelor’s and/or master’s degree is often preferred.
3. Real estate venture capitalist
Average salary: $112,5004
In real estate venture capitalism, the next big thing is always on the horizon. Venture capitalists (or VCs) are ambitious, committed professionals who spend a significant amount of time and energy identifying properties and projects that lack the financial or and/or physical resources to fulfill their goals. Once they’ve chosen a worthy investment, VCs step in to provide the much-needed capital and support to bring the project to completion. In exchange, they receive an ownership stake in the company, a portion of the revenue, or some combination thereof.4
Although it's a highly lucrative career path, commercial developers need to be prepared to experience a great deal of high-risk, high-reward situations.
4. Mortgage broker
Average salary: $54,0595
Great communication and mediation are key characteristics for a successful mortgage broker, as well as an intimate knowledge of the loan application and approval process. Although they can’t dictate any loan guidelines, timelines, or approval results, mortgage brokers work diligently to help to secure deals between borrowers and lenders. Typical responsibilities include collecting mortgage applications and documentation, advising borrowers on how to improve their approval odds, and finalizing the loan agreement for both parties.
Based on the size and duration of the loans they negotiate, mortgage brokers can earn a sizable commission from the lender upon closing.6
5. Commercial Real Estate Collateralized Loan Obligation Manager
Average salary: 95,7567
Commercialized Loan Obligations (CLOs) are a hybrid of traditional leveraged bank loans and commercial mortgage-backed securities (CMBS). As the name states, commercial real estate (CRE) CLO managers are responsible for credit analysis, portfolio management, operations, and administration of the CLO. This includes selecting assets, making interest payments, and buying and selling loans out of the portfolio.8
Although they mostly operate independently in their work, CLO managers are responsible for making sure bond holders and investors are paid in full and on time. This requires an impressive amount of knowledge and experience, but you’ll be generously rewarded if you can deliver for all parties.
6. Private Equity Analyst
Average salary: $100,0009
Private Equity Real Estate (PERE) refers to companies that raise capital to acquire, develop, operate, improve and sell buildings to create worthwhile returns for their investors. Although they’re similar to venture capitalists, those who work in PERE can work on different “risk profiles” depending on how their firm is organized (e.g., “Core” strategies purposely focus on lower risk, lower return scenarios). Junior and mid-level PERE professionals come from various backgrounds, including investment banking, investment sales brokerage, and lending.9
Your salary range as a private equity analyst is heavily impacted by your bonuses and can increase drastically depending on your seniority level; associates usually make around$100k, while principals and managing directors hover around $650k.9
7. Real Estate Investment Trust Manager
Average salary: $77,41510
A Real Estate Investment Trust (REIT) is a collection of money from several investors that pays for a portfolio of various real estate assets. The types of assets depend on what the investors have selected, but the primary goal is to generate income and increase value over time. To make sure all of their assets are managed properly and they’re paid correctly, investors will hire an REIT manager to collaborate between them, their property managers, trustees, and sponsors.11
The average pay range for REIT managers can vary greatly, which is good news for anyone looking to enter the field. There’s a lot of potential for upward growth based on skill level and location, so now is a great time to consider the REIT path.
8. Real Estate Broker
Average salary: $59,72012
Essentially, a broker is a real estate professional who works with an agent to make sure all of their sales are legally and financially compliant. Like an agent, brokers can help people with buying or selling property, but they also coordinate and fact check any real estate transactions, collect and finalize paperwork, and record and report all finances.13 This requires deep knowledge of real estate law, finance, and processes, which is why many brokers choose to pursue a master’s degree in real estate.
Start Your Next Chapter in Real Estate
As mentioned, a lot of the job titles and salaries above are dependent upon you gaining the right expertise and education to be considered. To help make that transition as easy as possible, a Yeshiva University online MSRE degree allows you to complete the program in your own space and on your own time. With built-in flexibility and content shaped by a board of New York industry experts, you’ll be ready to take the next step in your career in as few as 20 months.
- Retrieved on January 17, 2022, from corporatefinanceinstitute.com/resources/careers/jobs/real-estate/
- Retrieved on January 14, 2022, from glassdoor.com/Salaries/commercial-developer-salary-SRCH_KO0,20.htm
- Retrieved on January 14, 2022, from glassdoor.com/Salaries/real-estate-analyst-salary-SRCH_KO0,19.htm#:~:text=The%20national%20average%20salary%20for,by%20Real%20Estate%20Analyst%20employees
- Retrieved on January 14, 2022, from investopedia.com/articles/personal-finance/021115/become-venture-capital-associate.asp
- Retrieved on January 14, 2022, from glassdoor.com/Salaries/mortgage-lender-salary-SRCH_KO0,15.htm#:~:text=%2490K-,How%20much%20does%20a%20Mortgage%20Lender%20make%3F,Glassdoor%20by%20Mortgage%20Lender%20employees
- Retrieved on January 17, 2022, from investopedia.com/mortgage/mortgage-guide/mortgage-lenders/#:~:text=A%20mortgage%20lender%20is%20a,key%20aspects%20of%20your%20mortgage.
- Retrieved on January 14, 2022, from ziprecruiter.com/Salaries/CLO-Manager-Salary
- Retrieved on January 17, 2022, from content.naic.org/sites/default/files/capital-markets-primer-commercial-real-estate-loan-obligations.pdf
- Retrieved on January 17, 2022, from wallstreetprep.com/knowledge/real-estate-private-equity-career-guide/
- Retrieved on January 14, 2022, from ziprecruiter.com/Salaries/Reit-Manager-Salary#:~:text=Based%20on%20recent%20job%20postings,average%20annual%20salary%20of%20%2477%2C415.
- Retrieved on January 14, 2022, from moneysense.gov.sg/articles/2018/10/understanding-real-estate-investment-trusts-reits
- Retrieved on January 17, 2022, from vaned.com/blog/real-estate-agent-salary/
- Retrieved on January 18, 2022, from rocketmortgage.com/learn/real-estate-broker