I met with a tenant rep team last week for a job opportunity, and the team consisted of 2 Vice Presidents and 1 Executive Vice President.
I was afraid to ask what the team's revenue was last year at the risk of coming off rude, but I have seen them in the news on some very sizeable transactions. Do the titles mean anything these days?
Don't worry about coming off rude in RE brokerage. Everybody is about the money and they probably want to see that you are too. The most junior producers in my shop are Associate Directors, then Director, then Managing Director, then all the VPs
Titles don't mean a ton, but they do mean something. The EVP is definitely the head of the group though.
Larger companies like CBRE have god knows how many titles for people, this mostly dictates how long they've been with the company/ industry and how many people/ groups they over see. I know people in their 50s that are 'Associates' mainly because they are new to either the market or industry. Smaller companies typically will run with Associate and VP for anyone that's not an owner. I have friends in their mid 20s at small firms that are 'VPs' of lets say tenant rep, because they are the tenant rep broker for the company.
I would definitely ask about their deal volume not only for last year, but for the couple years prior and for their current year projections. When interviewing I made the mistake of only asking for the last years total volume, and ended up judging the company off of what was, and still is, their record year.
Titles don't mean shit outside of the order they're in. I worked in an office of 3 founding principals, 2 principals, 2 directors, 14 vice presidents.
At the big shops titles are based on production. Each shop has different benchmarks for titles, but they are generally commensurate with people of similar experience and influence in any F500 co.
I'm sure at some shops this is true, but I worked at "a big shop" (albeit in a middle market) and I can assure you that people were given titles just to look more impressive in client pitches. It did not have anything to do with production, and in fact, there was consternation from the high producing VPs that they had the same title as the slacker VPs.
I'm sure it happens.
I worked for one of the big 3 in a middle market and that generally wasn't the case.
Expedita quia ex amet provident eveniet autem labore. Et est et dolorum quo deserunt animi. Aut error numquam et.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...