Real Estate Making a Comeback at U.S. Business Schools
Business school students have taken a renewed interest in real estate in recent years, according to U.S. News and World Report. An uptick in enrollment for real estate-focused MBA programs marks another positive sign for the recovery of the market, the article reports, since business school students are once again feeling confident enough to stake their futures on real estate.
The article identifies some U.S. MBA schools that display this trend, including Dartmouth College's Tuck School of Business, where approximately 5 percent of the student body is now specializing in real estate. This marks a significant jump from just a few years ago, when there was almost no interest in real estate, states Jonathan Masland, director of counseling and recruiting at Tuck's career development office.
The University of Wisconsin's School of Business has also seen a recent increase in applications to its real estate division. Morris Davis, academic director for UW's James A. Graaskamp Center for Real Estate, says that applications are rising after a drop from 2005 to 2010. Davis explains that success in the real estate industry relies heavily on timing and speculates that students with the strongest career perspectives in the industry are probably those that graduated last year.
Real estate MBAs who experienced a slow job market right after graduation are beginning to see brighter prospects, the article reports. Drew Sadowski, a 2010 graduate of Duke University's Fuqua School of Business, believes that those who were able to land real estate jobs at the time he graduated are now at a significant advantage. Sadowski is currently a vice president and real estate transaction manager at Bank of America.