Current Job Market Q4 2022
Any of you recently made job switches in the last 30 to 60 days? Anyone currently interviewing and able to comment on what the job market feels like? any specifics on jobs in development. Interested mostly at what the experienced crowd is seeing (5+ years experience)
Just started hunting as of the start of this month, not sure what to make of it right now or what employers are thinking right now. Really looking to pick up more money, currently in development looking to go to a similar role.
Now is a bad time to look for a job. There is so much pain coming in CRE
All of our bank relationships are starting note sales. We are quoting HY debt deals and borrowers are choking on pricing, and just deciding to not borrow / put more equity in
It’s just so hard right now to get anything done. We have debt and equity funds but equity is basically dead rn, not even bothering to look at deals seriously.
Just feels like activity is way, way down. And this is for a PE fund that looks at mostly dev deals
Oh yeah, i'm for sure seeing that anything acquisitions related is really scaled back a lot but it seems like there's decent roles in asset management and development considering we'll be out of this cycle at one point or another later on down the road, it just not right now.
I would think special situations groups would be staffing up or at least preparing to start buying up distressed properties, but I don’t know that to be the case. Some companies still looking to hire development and acquisitions associates but I find that very surprising considering it’s so hard to find good deals and get financing right now.
I'm not at the 5+ years of experience level but I've seen a fair number of Associate/Senior Associate/Manager/Director level positions in my city. Most are on the debt or asset management side. I've also seen quite a few Analyst/Associate positions in development, asset management, debt, or the acquisitions side of development. Acquisition roles at developers seem to be going well, development is super active here. My firm is currently hiring and some firms I'm interviewing with are constantly looking at deals too.
Have not seen much for acquisitions at REPE/institutional investors recently but there were a few from top tier companies in my city a couple months ago.
are you on the west coast or east coast?
I'm in Canada
London slowed down quite substantially but opportunities are still available at all kinds of firms (mostly associate and up)
Not a good time to be looking to move in development. The fact that its Q4 aside (nobody is hiring right before the holidays), we're in a rising interest rate environment, construction costs are at all time highs and not coming down, getting meaningful financing is getting harder and harder, and we're likely going into a recession. New hires, especially at middle management (the most impacted level during layoffs), are first on the chopping block.
shit, im a middle manager. and this whole past few weeks ive been worried about my team potentially getting cut. you saying i should be worried about my job? damn. who is going to manage all these gorilla analysts?
I have an interview for a vp originations position this week
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