While going back to school to earn a master’s degree is certainly a financial commitment, your schooling could pay for itself in as little as one to two years. Scholarships and grants are certainly readily available to help masters in real estate students pay for their education, but even if you’re relying on student loans, when you graduate with this kind of degree, you’ll be making more money and be better prepared to find a top job in your field.
Masters in Real Estate Base Salary
A masters in real estate allows you to work at some of the best real estate companies in the world. MBAs can give you some freedom to concentrate on real estate, but with a masters in real estate, your entire graduate education will be focused on this field, making you a better candidate for any open job. What you can expect to earn once you have your master’s degree depends on a number of factors, but, for example, Texas A&M reports that their students earn an average of $59,000 as a starting salary upon completing a masters in real estate program. Your starting salary can range anywhere from $40,000 to over $100,000, depending on the job you take, and as you become more experienced in the real estate field, you’ll earn even more money.
Earning More Money in Real Estate
While the real estate market itself is still recovering in most parts of the country, there are ways you can earn more by working in this field. First, consider you specialization options carefully. Right now, earning a real estate license so you can buy and sell houses might not make as much sense as going into urban planning and development, real estate law, or real estate policy. The specific field you choose isn’t the only thing that affects your salary, either – location plays a key role. In general, you’ll earn more money by living in cities, but in the world of real estate, it is important to consider the specific market in relation to your job. For example, some real estate markets are better for students who want to work in commercial real estate, while others are better for students interested in estate planning and still others are better for students interested in real estate insurance. Do your research to find the location that is best for you.