How bad is recruiting atm?
Recruiting is so bad that not even Distressed/NPL firms are hiring..
Will we ever see a recruiting in RE revert to the bonanza of the past few years?
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Based on the most helpful WSO content, the current state of recruiting across various sectors, including real estate (RE), seems to be experiencing significant shifts. While the context doesn't directly address the current state of recruiting in distressed/NPL firms or real estate specifically, it does highlight broader trends in the finance industry that could be influencing these areas.
Recruiting in finance, including investment banking and potentially extending to areas like distressed/NPL firms, has seen changes in timelines and processes. For instance, there's been a trend towards earlier recruiting cycles, which has been challenging for both candidates and firms. This shift towards earlier recruiting could be affecting various sectors differently, including distressed/NPL and real estate.
Regarding the future of recruiting in real estate (RE) and whether it will revert to the "bonanza" of past years, it's important to consider several factors: - Economic Conditions: The state of the economy plays a significant role in hiring trends. Periods of economic growth tend to lead to more hiring activity, while downturns can result in slower recruiting. - Industry Trends: Specific trends within the real estate sector, such as market demand, investment flows, and regulatory changes, will influence hiring. - Overall Finance Industry Trends: As seen in the broader finance industry, shifts in recruiting practices and timelines could impact how and when firms in the real estate sector hire.
Given these considerations, predicting the exact future of recruiting in real estate is challenging. However, it's reasonable to expect that as the economy and the real estate market evolve, so too will recruiting practices. There may be periods of increased hiring activity similar to past "bonanzas," especially if economic conditions improve and demand for real estate expertise grows.
In summary, while the current state of recruiting may seem challenging, the dynamic nature of the finance and real estate sectors suggests that opportunities could increase in the future as conditions change.
Sources: Recruitment Set Back To "Normal", https://www.wallstreetoasis.com/forum/investment-banking/will-2020-recruiting-ft-and-sa-be-accelerated-or-be-more-relaxed?customgpt=1, Recruitment Set Back To "Normal", PE Recruiting Failure, Will recruiting ever stop accelerating?
It’s pretty shite out here. Ive been looking to jump into something salaried (I’m commission only) and it’s brutal. Thinking MBA so I don’t have to work in this dog shit market.
The pandemic/time immediately after the pandemic was atypical. I don’t think we’ll ever see that again.
That being said, hiring SHOULD start to pick up. Firms are falling asleep at the wheel. Rate cuts are expected at some point this year or next year and activity should pick up afterwards. Firms are missing out on valuable training time.
Posting a job now means someone realistically joins in three months. Then you have a few more months to train them before activity skyrockets. Posting now means you get the pick of the litter with bonuses just paid out and no top firms hiring. Not to mention firms will lose current employees to competitors once hiring picks up again.
Makes zero sense to not start interviewing potential candidates right now.
Do you think this will mean Grad programme openings revert back to the norm? Because 2024 Graduate Schemes were a shitshow and so many firms didnt even open up.
Agreed with all the above. However timing the market is impossible. I can understand why firms are waiting to see haircuts in the eye before ramping up recruitment.
UK has gotten a depression – it has to count for something – for what it's worth
On the same page here. Timing here is key and it's hard for shops to really predict if they're moving too far ahead of those anticipated rate drops.
3 months if your lucky.
I have been talking with a company that I applied to a position in early October.
They didn’t even set up initial interviews until mid October. Nothing in December. Had me do a case study in mid January, and still are talking about setting up a final round of interviews in a “couple of weeks”
I don’t particularly care as I have a job I like a lot and get paid good enough. Works bette for my bonus payout anyways.
But some companies are definitely taking their time.
Oh definitely a lot of firms are taking their time. just found out one of the roles i interviewed for has decided to put the role on hold for right now, so no rushing there!
Starting an interview process back in October all the way through till now with no final decision yet seems insane, but it sounds like they're being super careful about hiring in this market.
What firm is this lol? I have the same thing going since July of 23’ still slowly going through the process.
absolute dog shit sadly. 30 hours a week to networking/interviews. interview with 12 firms total since August. 8 superdays. 0 offers. one pending but very close to losing all hope
Wow, what market are you in? Targeting just acquisitions role or different focus?
I just hired an associate. But it’s more driven by my firm wanting to staff up for the hopeful deal pick up in the next 12-24 months. We are hiring a few positions. But happen to be at a well capitalized developer.
Are you in the city? Just finished a Masters program and have experience, would be interested in applying. Can DM you if interested.
The role is closed. We hired already. Sorry. The remaining openings are not investment related
Been recruiting for the past 9 months - it's complete shit. Lots of ghosting after moving far along in the process.
Also just not hearing back after applying even with referral and good exp or taking a few months to hire or just pausing processes.
Same
Been almost a year. Wonder if I'm screwed given the gap. Agreed, companies being extremely picky. Coming from acq, I get hounded on why I would consider asset mgmt if I apply to those roles. Sounds like asset mgmt hates their job.
I’ve been trying to move over to debt roles and have had the same experience. Do these people really think I’m applying and interviewing for fun? I’m applying and interviewing because I want the job.
going on 1 year has got to hurt. is your background mostly acquisitions?
Yes, acq. I received an offer for acq in a different city late last year but decided not to take it. ( Kind of regretting that now). Lost in the final round for a couple of other roles with the last one being a couple weeks ago for asset mgmt in the final round. I'm in a very competitive location though. I do feel that if i had chosen to recruit nationally, I could have found something within 2-6 months.
Not sure if I should either pivot to infra or corp finance or suck it up and leave my city and move. Could take another year until things heat up for acq.
Well, their fear was " How do we know you won't leave for an Acq job once the market improves"
Is anyone actually finding success in this market? I'm curious to hear what is actually working. I've gone through 3 full processes, one of which we were negotiating comp and they've all been put on hold because of concerns about the market. My old shop downsized and left me out of a seat. I've been on the hunt for 4 months now.
For AM or acq?
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