On Tuesday, March 5, students in the George Mason University Masters in Real Estate Development program participated in the CREW (Commercial Real Estate for Women) Northern Virginia wine tasting and networking event. Ms. Sara Todd gave a brief talk on Women in Commercial Real Estate: 2010, a comprehensive study researched and written by the Cornell University Program in Real Estate with sponsorship by CREW Network. The report provides insight into the state of women in the commercial real estate industry. Ms. Todd was a co-chair of the CREW Network Industry Research Committee and is a past President of the CREW Maryland Suburban Chapter.
Key findings from the research study indicated a reported 7% increase in women from the organizations responding to the survey. This 7% increase came primarily from industry veterans with 20+ years experience and new entrants with less than five years work experience. A higher percentage of women also moved into the $100,000 – $250,000 annual compensation range since the last survey in 2005. The study also reported that, “Even though men significantly outnumber women in the commercial real estate industry, a remarkable 62% of female managers’ direct reports were women, whereas only 45% of direct reports to male managers were women.”
The evening also included networking, an overview of CREW Network’s groundbreaking industry research, and information on CREW Network Foundation and scholarship opportunities for undergraduate and graduate college students pursuing a degree in a commercial real estate focused program. As a platinum sponsor of CREW Northern Virginia this year, the George Mason University School of Management distributed passes to five students from the masters in Real Estate Development degree program.
In collaboration with the School of Public Policy and Volgenau School of Engineering, the School of Management at George Mason University offers an interdisciplinary masters in real estate development program drawing on the expertise of faculty members within all of these departments. The program consists of carefully designed curriculum bringing together the three main elements of real estate development: civil engineering, finance, and public policy.