The recent announcement of the integrated College of Business at Cornell has prompted many to take a closer look at the synergies that will be realized by combining the programs. Among the future benefits of the combination will be increased coordination between the existing academic programs of the School of Hotel Administration (SHA) and the Johnson Graduate School of Management (Johnson). At present, about 3-5 incoming students in the Baker Program in Real Estate each year are dual-degree students, also enrolled at Johnson. In addition to the dual-degree option, many students in the 2-year MBA program are able to take up to five real estate courses at SHA during their second year, whether they are concentrating in real estate or not. Over the past several years, increasing numbers of Johnson students have taken advantage of this option. With the combination of the schools, the opportunity to do so will only increase for future Cornell graduate students.
The dual-degree MPS Real Estate/MBA program is designed specifically for students who desire a more rounded, general business education in areas such as Operations and Data Analysis, as well as increased exposure to Finance and Corporate Strategy courses. Like the Baker Program, dual-degree students follow a variety of career paths, from real estate finance and investment banking to real estate development and investment. Students begin the three-year program by completing Baker program core curriculum during their first year, while the second year is spent doing the same at Johnson. During the third year, students use their Baker and Johnson electives to complete both degrees. In addition, two summer internships provide the opportunity to get work experience in more than one area of real estate prior to graduation. For example, it is not uncommon for students to work in real estate development or investment after their first year in Baker, and then spend a summer in investment banking between their second and third years, as recruiting for such positions tends to occur more in Johnson than in the SHA.
Regardless of their future career paths, dual-degree students are very satisfied with the education and experiences that they have been able to receive. Current dual-degree student Scott Guo (MPS/MBA ’17) observed that “the two programs are excellent complements to one another. While Johnson has a fantastic Wall Street network, Baker has one of the most powerful, far-reaching real estate networks. This is especially apparent through the industry speakers that each program hosts for the benefit of their students. Just last week, I had the privilege of listening to distressed buyout investor David Breazzano deliver his thoughts on how to create blocking positions using the fulcrum tranche of corporate debt to a group of Johnson MBAs. At the same time, I am highly anticipating the Baker Program’s visit with real estate titans Larry Silverstein and Harry Macklowe that is set to take place in early May. Those same opportunities to learn from storied practitioners are doubled if you are a dual degree student.”
Sameer Godiwala (MPS/MBA ’17) originally enrolled at Baker in 2014 with the intention of completing the 2-year real estate program. After seeing the benefits of both programs in relation to Hospitality Real Estate investments, which is what he wanted to pursue, he applied to Johnson and was accepted, thus converting to the 3-year dual degree program. He added that “the dual-degree is a truly distinct proposition in higher business education. Students are able to leverage two world-class programs to combine depth in real estate at the Hotel School with the breadth of the business courses at the Johnson school.”
