Hey monkeys!
Can anyone speak to the employment market in the Northeast US (specifically CRE in NYC)?
I'm looking to make a move there early next year and am beginning to reach out to contacts and companies. I'm moving from Australia, and have a pretty great resume and transaction track record (not trying to be arrogant).
I'm curious what the landscape is for finding employment, I have about 5 years of CRE experience under my belt (M&A, Funds / Investment Management, and direct transactions).
Any insight will be really helpful!
Did you get your MBA or work for a top shop? Also, are you a US citizen, or do you need sponsorship? This matters, with the level of midlevel to senior employees that got cut during the downturn many are looking for work as we start to ramp up again. Lower level and backfilled rolls, not yet. You'll need to work your network. It's still very sticky as many people want to get a job again or get back into the industry and are willing to take a significant pay cut.
We had a couple of like 3-4 exp positions needed across the company and basically got people with 10-15 years of exp willing to take a pay cut. There was a thread in 2024 for 2023 grads who still hadn't found a job and 2024 Grads not working and finding work until now, taking construction and project management jobs to get in.
There are many threads on here as to how hard it has been, people taking jobs 2-3 levels below their previous role. Don't get me wrong, I'm seeing improvement, and recruiters are starting to reach out for the BS-type jobs or quick fills for toxic places. I even saw a Sale-side desk role come online, though for NYC, pay was low.
Just don't make the switch until you have something in writing. Honestly, you said not arrogant. Well, in NYC, you can find the arrogance. There will be lots of cherry-picking before the job market stabilizes, and they will look down on international shops, even if you worked at a top shop in London.
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