Analyst shortage?
Mid level folks, are you having a hard time finding analysts? Have a number of friends in the mid ranks at other firms trying to find analysts, and these are good name firms, and they can’t find decent talent for the life of them. What’s going on with real estate analysts/associates market?
I have 1 yet of IB experience looking to go into RE. Can I PM you?
Yeah I think so. I have seen a metric fuck ton of analyst job postings online. And many of them being reposted over and over because they didn’t find someone, even at great companies.
Where have you been seeing these postings? Select Leaders?
Mostly LinkedIn but I’ve heard about them through the grapevine too, people are desperate
Speaking as an analyst myself who has gotten numerous offers from other firms, it comes down to desire and compensation. I think a lot of analysts were just in a particular job or at a particular company because it’s what they had available and they seemed grateful. However, since the inception of the “rebellion” by the IB analysts over at Goldman, I believe analysts are more aware of how valuable they are, how much firms need their services, and how much profit their groups actually generate vs what gets distributed to analysts. So in essence, analysts are who actually good at what they do are being compensated well and being treated better at their firms. All that is left is average to subpar talent, who wouldn’t even make it to a second round interview. Also gotta remember real estate is still an arcane industry to most. Not many know the lucrative career paths that exist here. Just my two cents.
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We interviewed 5 candidates (phone interview + 1 in-person was our strategy due to talent shortage), and the first 4 accepted other offers. There's a lot of competition currently (from my perspective) for quality analysts & 1st year associate candidates.
Actually it’s because there’s a record level of capital being deployed and they need more analysts to help sort thru the deals. The amount of ppl they had before just isn’t enough
Analyst/associate job market right now is extremely hot and I'd bet we will continue to see this through Q1 2022 at least
Can confirm the market is very hot right now. I technically am sitting at 1 YOE but was still having headhunters reach out for development analyst/coordinator roles.
Development seems to be in a lag due to the general sparse hiring nature of the field making it so that most firms weren't equipped to deal with the volume of new deals that came to the table and can actually pencil now.
Glad to see this happening and hoping it'll increase compensation across the board. It makes me furious when people accept offers at solid real estate shops that for some reason think they can get away with paying lower than even back office guys at banks get. Pay for talent, otherwise have fun going through shitty and often inaccurate models and memos.
What roles are you referring to: investment sales/brokerage/acquisitions/asset management, etc.? I was under the impression that the more sought out RE roles (acq/dev) are still relatively competitive.
You’re joking right? Can’t find a job…
We hired two analysts this year and it took forever
Makes for a hot lateral market
Alright where are these jobs? I'll PM/get on the phone with anyone right now.
Starwood engaged 3 different headhunting firms to fill an SF position.. they made phone calls to my entire group of analyst buddies. No one wants to move. I guess our current employers have been taking care of everyone properly.
That's hilarious. My buddy and I were also engaged by a couple headhunting firms for Starwood but we knew that we had a solid gig because of decent hours, good culture and decent pay. Both my buddy and I chose not to interview because we knew a few kids who joined after undergrad and hated the work-life balance.
Can say from the perspective of a graduating senior, many are just not putting in effort to get the experience needed, especially given the past 18 months. I'm all for you only live once, but you can't use that as an excuse not to work hard. I've worked my ass off and have gotten my own positions running acquisitions and asset management functions prior to turning 22. Most my age don't know how to take on real responsibilities.
That said, part of the problem is hiring firms actually getting to the talent they need, like my self. I'd love to discuss how firms can connect better to junior talent. Also, am given my own experiences thus far would love to discuss positions.... shoot your PMs.
Easy there hardo
Hey, I need someone like you. I can pay you $400K base and a 300% bonus.
Holy shit I pray to god I never accidentally hire a fuckin weirdo like you, you sound absolutely insufferable
Good troll post. You got a few people
You dont run shit at 22. Go back to your mouse and monitor boy. *whiplash*
Honestly, it is mainly due to compensation as most real estate firms underpay other career paths. Also, not a good sign when there was recent massive turnover - like why bother?
it's cause everybody is trying to find employees through friends which is a very limited pipeline. place an opening on your site if you're a big firm or LinkedIn and schools' jobs portals and you'll get hundreds/thousands of applicants.
That pool that used to be 100-200 had shrunk to 10-50.
you must be at a smaller place then. I can imagine for any entry level job posting on GS website, they still get thousands of resumes.
How would you recommend taking advantage of this shortage as someone looking to break in?
Currently a master's student at a semi-target and am struggling to get looks for analyst jobs despite having 2 years of relevant experience on both the sell-side and buy-side. In addition to my relevant experience, I've networked my *** off talking with more than 100 people in the industry over the last 12 months, which while incredibly insightful hasn't yielded much success in terms of interviews landed or offers despite getting recommendations/referrals from everyone I asked. The only places that I've got looks this year to this point have been at 2 MF's (think BX/KKR/TPG/Apollo) where I got dinged in the 2nd and 3rd rounds. I've always found it strange that MF's gave me legitimate looks, however, nobody else has to this point.
From my perspective on the outside looking in, the analyst shortage keeps getting talked about but most of the people in my network that have made moves are the ones that already have analyst jobs or were in the right place at the right time within the company (know several regional BO employees who are now at GS/MS IB in top groups who previously had no relevant experience).
Well this thread is technically just referring to CRE Analysts rather than your traditional high-finance roles. The analyst landscape for IB/MF's is far more competitive. Quality RE Analysts seem to be extremely hard to come by due to the arcane perception of the industry and the fact that there is far less demand for RE jobs (surprisingly few people outside of the CRE community know that CRE is even an industry much less how lucrative it can be). For reference I managed to land a role as an analyst with zero prior experience due to the insane deal flow in 2021. I was let go and found another analyst role within 2 months even with the holiday slowdown.
This sounds like an interesting timeline - you were hired, let go, and then rehired all within the span of about a year?
hopefully this results in giving some good risk analysts or trade support analysts a chance to move into the FO. a lot of my analyst/associate buddies in MO at GS/MS/JPM types of places have been able to lateral into senior analyst gigs at the MM level, and have even been getting interviews from EBs
Any IB BBs or EBs open to recent MBA grads with previous Finance (MO) experience)?
Not sure if I can help without more context. DM me please
We hired an analyst who didn't have relevant experience and it has not turned out that well, so we've decided to never do that again. Some of these kids are too Gen Z
What does this mean?
Hire me and I will learn quick and stick
Would you rather hire an analyst with no prior experience (but will stay long term) or an experienced one who is temporary?
Pay more and they’ll show up.
First year BB IB analyst trying to get into REPE, can I PM you?
There’s about to be one more analyst vacancy at my company…
My company is desperately trying to hire, but senior leaders who have equity in the company are insistent that they want people under them who will bow down in submission and "play slave". We just had a record banner year, but simultaneously we are offering reduced compensation that is lower than we offered pre-covid/pre-inflation job market for these roles. People are saying things like "working for me is an exclusive privilege, analysts should pay me for the opportunity to work for me" and other insane stuff like that.
Predictably we haven't found anyone to exploit, and as a result some of these guys are getting outright nasty. "bring me someone from your social network or else", etc
what kind of experience you need to play slave?
It's wild having seen it first hand how much resistance these senior guys put up against increasing comp at the junior level, especially with inflation like it is (very real). Like they would even notice giving the 3-5 guys doing their underwriting an extra $20k-$40k in salary...
Simply put Why on earth would I want to take up the analyst gig that pays $65k when I can grab one at another shop that pays $130k. Tell your buddies to up the comp. Inflation is an actual thing in our lives.
bEcAuSe YoU'lL gEt BeTtEr DeAl ExPeRiEnCe AnD cAn StArT yOuR oWn ShOp iN tHe FuTurE
It’s amazing how many headhunters have reached out seeking to fill analyst positions over the last 2 months. There is without-a-doubt a shortage and I think this can be attributed to the unconventional nature of the real estate industry. If you weren’t born and raised around RE/banking/construction, real estate is not a natural career path to follow during and after undergrad. Pay is a factor as well - I am seeing equal job descriptions from like-like companies with one offering salary of 60-70k and the other over 100k. Not surprised there’s a lot of vacancies for firms with unrealistic salary expectations.
WFH is also playing a huge role in this as many do not want to change their current lifestyle if they are comfortable WFH and go to a firm that is requiring in office.
You will see more people looking for jobs once major corporations are back in the office full time. Also, many companies had hiring freezings even through most of 2021.
You're not paying enough. Up the salary and you'll have plenty of good prospects. Somehow, everyone who wants to tell junior people to suck it up in a slack labor market, seems to hate the free market when it doesn't work in their favor...
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