CMBS / Securitization Hiring
Hello Monkeys!
I have been a balance sheet UW for the past 1.5 years (first job out of college) and would like to move to CMBS.
In short, when do people think hiring will resume and what skills should I develop to be a more competitive candidate? Also, would it be easier to move internally or externally? The CMBS group is not under the same umbrella as balance sheet UW at my bank if that makes it more difficult.
I assume it will be a while but would like to plan ahead given my bank is currently going through some shuffling in the real estate group.
I'd say a while. On debt side people have been laid off and more might come. They are plenty of experienced people out there with 1-3 years or on the other end 15-20 years. They'll want experience at any of the sale side. Buy side better chances are with the bigger places. Don't know when they will hire, just know some broad cuts at a couple bigger FI's across the board. The amount of people in the last month or so I have had to remove from distro's or BBG chats has been alarming to say the least. I'd give it 2ish years before people without any trading or securitization exp start getting hired, as they can probably get former interns desperate coming out of school for cheap. But it'll happen when the Treasury starts backing Agency Bonds and MBS's.
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