2023 FT recruiting?
I have seen very few postings for undergrads looking for for FT jobs in RE. Do you guys suspect that this will continue to be the case or will things get better?
How should seniors go about recruiting right now? I feel like I have hit a wall and am not sure what to do.
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There's been a ton of threads about this topic in the last couple of months so I recommend you check those out. The summary consensus is this:
Deals aren't getting done currently and companies went through a lot of hiring of asset management last year as deals dried up. Because of all that, a lot of companies don't need acquisitions analysts now (until either debt gets cheaper or cap rates expand) and won't need more asset management until there are more assets to manage. The general consensus is that deals will still be slow for the first half of the year but should ramp up towards the fall/winter. I would suspect that some will start posting FT jobs towards the end of spring/summer to make sure they are prepared for the flood gates opening but more than likely it won't be "business as usual" until beginning of 2024.
If I was a current college senior I would personally look at going back for a masters (if that's financially feasible) simply because it makes you more hirable and delays the need for a FT job for another year or 2. Plenty of others on here would certainly disagree, and that's completely fine, there are plenty of other good options. Graduating seniors could also look at a job in an associated field. For example, if you want to go into "REPE" you could look for entry level jobs at a bank in their CRE department, appraisal jobs, construction (more of the project management route and less so the actual laborer), etc..
No way around it, the past like 2 years hasn't been a great time to graduate college because of the unique circumstances. No one is going to pigeonhole a fresh 22/23 year old looking for a job in a recession into their first job. So that said, you can always transition into a RE role in a year or 2 when circumstances get better.
Any chance you could pm me? I appreciate your insight, in a bit of a similar situation and unsure of how to go about it. Hoping you could shed some insight on it.
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