An accounting degree can open doors to exciting and lucrative careers in many industries, including real estate. While accounting may not typically be associated with the real-estate industry, there are several ways in which an accounting degree can be used in this field (as well as many other non-traditional fields).
This spring, the Texas McCombs MPA Program is hosting the “Accounting++” series, to introduce students to various careers in which accounting knowledge is valued. At each event, we highlight a career path that benefits from having a master’s degree in accounting (MPA). Our most recent panel, comprised of McCombs alums and industry experts, focused on accounting careers in real estate. Learn more about them at the end of this blog!
The panelists shared how accounting knowledge has helped them understand the language of business and contributed to their careers. Here are some of the key takeaways:
- Real estate is not limited to buying and selling single-family homes. It’s a dynamic and ever-growing industry that is based on making decisions with financial implications. An accounting background is exceedingly helpful in this context. In real estate, a main priority is to generate a return for investors, whether from the purchase, sale, or management of large multi-unit properties, commercial property, or land. As a result, a thorough understanding of financial analysis and accounting principles can be invaluable in this industry.
- Real estate investments require careful and thorough financial analysis and projections to determine the potential return on investment (ROI). An MPA provides the skills and knowledge necessary to perform such analysis and to disseminate this information to interested parties.
- Real estate investors need to be able to analyze and determine the value of properties/investments. Such valuations are based on location, condition, size, and market trends. An MPA equips you with the skills to analyze and interpret financial data to make informed decisions about real estate investments.
- Accounting principles are essential in managing the finances of a property, including rent collection, property maintenance, and tax reporting. An MPA provides a strong foundation for good property management.
- Real estate transactions can be complicated, and tax is a critical aspect of such deals. An MPA will ensure you are well-versed in such regulation. You can use your tax knowledge to assist clients in achieving tax efficiency and maximizing their returns on real estate investments.
The Accounting ++ Real Estate panel
Having an MPA is an asset in many careers, including the real estate industry. The Texas McCombs MPA program can prepare you for an exciting career in many different industries. The McCombs School of Business is consistently ranked among the top business schools in the United States!
To learn more about how you can apply your accounting knowledge in different fields, register for our next Accounting++ series event Accounting++ ?
To learn more about how the MPA program can help you reach your career goals, attend an info session or meet with admissions.
Our panelists:
Lauren Hiller
Senior Manager, KPMG
KPMG is a professional services firm that operates in 143 countries and territories, and in FY22, collectively employed more than 265,000 partners and people, serving the needs of business, governments, public-sector agencies, not-for-profits and through KPMG firms’ audit and assurance practices, the capital markets.
Matt Stevenson
Senior Director, Development, Greystar
Greystar is a leading, fully integrated real estate company offering expertise in investment management, development, and management of rental housing properties globally. The company’s business model is unique in its ability to own, operate, and develop multifamily, student, and senior housing across the globe.
Kristen Maris
VP, Asset Management, Fairfield Residential
Fairfield Residential is a leader in high-end living experiences. They manage 42,700 units nationwide across luxury new construction and renovated apartment homes in urban and suburban infill neighborhoods and tax credit affordable housing properties.
Paul Kudirka
Director, Affordable Housing, Fairfield Residential
Fairfield Residential is a leader in high-end living experiences. They manage 42,700 units nationwide across luxury new construction and renovated apartment homes in urban and suburban infill neighborhoods and tax credit affordable housing properties.
