I’m a CMBS guy having a hard time finding a new role in this environment whether it be debt or equity. Anyone have any tips/ or have been experiencing something similar?
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People are definitely hiring but the process is much more complex and prolonged. Since interviews are virtual, many companies are uncomfortable with hiring people that they have never met. From what I have seen, a lot of positions getting filled are from networking. It helps to know a VP or MD that can create a spot on their team. Multifamily, industrial, and REIT financing is booming so talent is needed. Asset Management on the equity side has also seen an increase due to workouts and repositionings so talent is also there. I’d advise you to identify companies that you really want to work at and reach out to the VP or MD on the team you like. LinkedIn and cold emailing worked for me. It’s easy to find out someone’s work email. Hope this helps.
Very helpful! Thank you!
Why are you trying to switch you make bank in CMBS?
fff
The following year will be better. Are you guys super busy?
Are you at a BB?
I am new to brokerage and really enjoy it. However, this is like any job.. depends who you work with
Laid off from my REPE acquisition job in September, and thankfully was able to land another in a month.
What type of REPE fund was laying people off? I feel like REPE funds were some of the least hard hit since many have dry powder and began raising fresh funds when Covid hit?
You talking debt fund or repe? Debt fund would make sense
It's a tale of two types of equity shops right now. Some are flat footed and at least in my prior firms case high exposure to retail.
At the same time covid has done nothing to stop the aggressive pricing in apartments and industrial where the prior firm was trying to pivot in and as many others are.
My experience job hunting in Texas and D.C. there are a lot of firms scaling up right now. I am associate level in terms of experience and was getting a lot of hits just on LinkedIn job apps.
Would be interested in hearing how you did it
Honestly the market seems very mixed. I'm seeing acquisitions stuff coming up, some development stuff around, but asset management roles seem to dominate the most. At the same time it seems like the process of hiring is slow, with work still remaining mostly remote.
Curious to hear which cities seem to be doing strongest.
Just had an interview last week but I have sinking feeling I didn’t move forward. One of the worst parts about the job market is not getting as many “reps”. In the past I interviewed a bunch and was repeating answers to the same questions over and over - now I’m lucky to have an interview every two months
On that note if anyone is interested in mock interviewing each other that would be great. I have around 3 years experience so doing the standard “walk me through a deal / your responsibilities” type questions
I am in a somewhat similar boat and would be interested in mock interviewing. PM me
this is WSO at its best
I’d mock interview with y’all
I moved back to the US from the EU at the beginning of September. I've had a bunch of interviews and made it to the final 3 times, but got passed over on every single one. I have an MBA and only one year of CRE experience so I'm not a perfect candidate. I've found that I've been passed over for mostly candidates that are either local, or have more experience. Unfortunate for me, but networking really does help, don't be afraid to bug people every couple weeks because I've been reluctant at times to avoid appearing annoying and have missed good opportunities.
Also, interviewing is insanely long right now, for every acquisitions role I've applied for they anticipate 2-3 months for interviewing and then 1 month to starting date.
I think this is a function of players getting ready to ramp up (for the distressed buying opps), but the market is not really quite there yet, thus they're dragging their feet longer than usual on hiring.
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