Any May 2023 grads here? How’s the search going? I’m a grad myself and have struggled to land something despite a solid background. Just wanted to check in and see how everyone is doing. Currently feeling pretty down but am pushing through.
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Same boat here, I have a couple interviews rn but it doesn’t look promising. Also, yes it’s been frustrating and slow. If you want to connect feel free to pm and we can chat.
Sounds great I’ll give you a PM
Dec 2023 grad here. Been absolutely insane compared to last year, firms are straight up not hiring, or they are hiring for more experienced (1 and 2 year) talent. Pulling every contact possible for leads when a job does actually open up and it's helped.
Slogging through and have some very, very solid leads but it's been a long haul.
Best of luck to you man. Same here.
I found this when I was recruiting last year as an An1. Seemed like firms wanted An2s over An1s, and wanted recent grads the least. Really tough environment where firms are pretty averse to taking chances on people.
What did you end up doing? How long did it take you to land a position?
Seems to always be the case for undergrads.
In the same boat. My region seems to literally not be hiring at all, hopefully it all plays out.
Do you think the hiring market will pick up in January?
Maybe but maybe not for Junior levels. I know many shops stopped back filling. So they will hire selected experienced mid level employees first, if they do not think the Junior employees they were able to train up can take over the roll. I'd think more likely 2Q2024. Deals need to start penciling, even though it would be smart to hire prior to this many won't, as I assume many deals are waiting for cuts.
Powell just mentioned the naturally contraction of job openings but many firms have been laying individuals off due to natural turnover slowing.
Fannie and CITI both announced layoff's across asset classes. I'd assume we'd need not only the market to stabilize and people to become comfortable with the new rates, but layoffs would need to subside.
I wouldn’t fret about it too much. Most teams hire as needed and won’t put an offer out in November for a start date in 6 months, and frankly probably aren’t thinking that far ahead (at least in my experience)
Why would it be in 6months they'd be looking? I think they want immediate job since they've been looking for 6 months going on 7
Curious how’s the networking phonecalls/coffee chats going? Are people generally more open to meeting in comparison to prior years? I would assume there are more requests from students to connect with employees this year, so maybe people are getting less traction or is it opposite?
I’m finding that most people are pretty reluctant to chat but it really depends on the shop.
Got a FT position at a brokerage after months of interviewing only for the offer to be rescinded. This was due to “fit” after they gave me the job. Extremely bizarre
That’s heinous. What brokerage was this? That is not okay. How are you doing now on the recruiting front now?
In the current market (and I might say any market), as bad as it sounds, and especially if a start date is a few weeks+ out, I recommend that candidates do not stop interviewing or a job search even after a job is secured. You can continue to kick the tires with other opportunities. It is not like you have to tell people that. If in the extremely odd chance that it somehow got back to the company hiring you, it is very explainable that "I want this job and its my first choice. In the current market, I've heard of rescinded offers. I do not expect that here but am also not in a position to let a few weeks pass by if it were to occur. It was only out of contingency planning, and I'm really excited to get started."
EDIT: turns out this is not a good idea judging by responses so do not do this even if in good faith.
Yeah don't do this. If I gave you an offer, and you accepted, and I find out through a buddy (everyone knows everyone) that you were still interviewing, I'd fully expect you to fuck me, that the job I offered you is a backup offer, and I'd think you're generally a clueless shithead for doing it.
This is a great way to get your offer rescinded.
…
hey, exact same boat with target school + multiple buyside internships. been a tough time for me and my family financially and emotionally, but all we can do is to keep pushing and a good opportunity will come eventually. have had interviews here and there, some with desired roles and others with not-so-first-choice roles. im assuming that things will slow down a bit this month for the holidays.
how have things been on your end so far? please feel free to pm if you wanna talk or anything.
totally feel you on the feeling down part - mental health has definitely took huge hits.
I’m sorry man. I’m in the same boat some days are just terrible and constantly refreshing my email hoping to hear from just anything for a lil hope.
totally feel that - i also had several non-finance job offers, but there's no chance in lateraling if i accepted (even if the economy improves).
so ended up turning them down and waiting.
remarkably enough, a bunch of buyside roles did open up and i am currently interviewing for a bunch, but then it's still insanely competitive right now, as they're in high demand with little supply.
all we can do is continue to push.
feel free to pm if you wanna talk about this and work together or something.
anyone else still actively recruiting? as we approach the holidays, i guess we can just stay positive for opportunities in q1-q2 2024?
Yeah trying to recruit but it’s just not going as well. I’m worried that I’m starting to get that unemployment stain on my resume.
Yeah, wrapping up some superdays before the Holidays. Hoping they go through, but I'm just sitting tight and hoping for the best.
Same boat here. Would love to connect and hear about your experience in terms of markets and industries you’re looking at
Its bad. Got let go along with most of team. Everyone is struggling to find something and its super competitive. Even willing to take a paycut but still nothing around.
Are you in the NYC market/looking for the same level VP roles?
Same boat here, interviews/final rounds every month since August 2022. Hoping Q1 opens some more opportunity because it has been very slow.
hhhhhhh hhhhhhhhhh hhhhhhhhhhhhhh
I’m confused what the issue is here with your experience. Seems like you grinded and got a job on a deal team (judging from your title)?
Small RE shops and Lifeco’s are gonna be every 2023 grads best bet for securing a job imo. Agree with the above tho. Don’t waste your time in some dog shit RE position if 1. It’s not what you really wanna be doing and 2. It’s in a super undesirable location and 3. Comp is ass. If you could instead get a corporate finance or consulting job. Would prolly open up a plethora more job applications. Can always move to RE in a couple years.
I am not sure who is giving the advice you can always move back to real estate but that’s awful advice
If your goal is to be in the real estate do not take a job somewhere else
It will be incredibly difficult to ever get back into the business. Because 2-3 years from now you will be competing with grads again as no one in real estate will value your non real estate experience.
Look if you can’t stomach how hard it is to find a job, real estate is not for you. If you can’t stomach having to take a job that pays less then real estate isn’t for you. If you can’t stomach maybe taking a job that doesn’t look great to all your buddies but is in real estate like say appraisal then real estate isn’t for you.
This business is for people who figure out how to get through down markets and never quit. It’s not for everyone and sure as heck not for people who will quit when times get tough.
Suck it up and keep networking and interviewing. Move in with your parents if you have to. But the second you take a job outside this industry, kiss ever being in this industry goodbye.
With all do respect, I just wouldn’t say “Kiss ever being in the industry goodbye” as the truth. I have known a handful of people that did not enter into the RE industry for several years after college and they are doing just fine now. I don’t want new graduates to think that if they can’t find anything now they are completely screwed. I think it’s more important to just get a business / finance type job in general, preferably one with some type of financial modeling experience. Much better to contribute to the workforce in some type of way rather than being unemployed for 6 more months, while applying in one of the worst RE markets in decades when most firms aren’t even hiring. And the ones that are hiring are only going to consider students from elite schools with the best credentials. Shit, I was lucky to have a job after graduation 2 years ago and I know many people that didn’t. I would’ve taken just about anything to get out under my parents roof. The fact of the matter is, real estate is a relatively easy thing to learn and understand compared to many other industries. Don’t get me wrong, there can definitely be complicated issues, but overall not too bad. If you can’t find anything now, you will still be considered in the future, just might be a tad difficult. But hopefully then, the hiring market picks up again, so you’ll just have to explain why you would want to transition into real estate, which should be easy. Just my opinion.
How did you not start to look for jobs from September 2022? When I didn't have an offer by December 2022, I pushed my graduation date to December 2023 and did a summer internship and got a full time offer for 2024. Probably the easiest way but far too late for you
See that you are in S&T. I think it might have been pretty different for RE. I had a lot of opportunities get pulled because of the market. Don’t think it’s ridiculous for someone to have not been able to secure something particularly in RE
See that you are in S&T. I think it might have been pretty different for RE. I had a lot of opportunities get pulled because of the market. Don’t think it’s ridiculous for someone to have not been able to secure something particularly in RE
See that you are in S&T. I think it might have been pretty different for RE. I had a lot of opportunities get pulled because of the market. Don’t think it’s ridiculous for someone to have not been able to secure something particularly in RE
See that you are in S&T. I think it might have been pretty different for RE. I had a lot of opportunities get pulled because of the market. Don’t think it’s ridiculous for someone to have not been able to secure something particularly in RE
See that you are in S&T. I think it might have been pretty different for RE. I had a lot of opportunities get pulled because of the market. Don’t think it’s ridiculous for someone to have not been able to secure something particularly in RE
See that you are in S&T. I think it might have been pretty different for RE. I had a lot of opportunities get pulled because of the market. Don’t think it’s ridiculous for someone to have not been able to secure something particularly in RE
See that you are in S&T. I think it might have been pretty different for RE. I had a lot of opportunities get pulled because of the market. Don’t think it’s ridiculous for someone to have not been able to secure something particularly in RE
See that you are in S&T. I think it might have been pretty different for RE. I had a lot of opportunities get pulled because of the market. Don’t think it’s ridiculous for someone to have not been able to secure something particularly in RE
See that you are in S&T. I think it might have been pretty different for RE. I had a lot of opportunities get pulled because of the market. Don’t think it’s ridiculous for someone to have not been able to secure something particularly in RE
how's everyone doing?
as for me, been in the process at some boutiques here and there + some big name interviews.
as you may have guessed, it seems that most of the big names have <10 spots for multiple hundreds of applications, so networking and getting referrals will usually get you the first round.
however, as there are many candidates for few spots, the interviews will be more intense, as the interviewers will be focused on weeding out most candidates until they can get to a select few.
meanwhile, IMO, the boutiques can be a hit or miss depending on your interviewer.
keep pushing everyone - big things coming. but would love to hear how everyone else has been.
Close to throwing in the towel at this point, have had leads from that were built over sveral years amount to nothing in the end. Demoralized and frankly am close to just giving up at this point (job wise).
Is anyone getting any traction. It’s coming up on a year of being graduated and I’m honestly loosing my shit. The money I’ve spent on industry certifications, time I’ve spent interviewing and networking is killing me and I’m loosing steam. At the same time I don’t know what else I can do.
In the same boat, all these firms reel you in like a fish, then they'll just tease you forever to just say no.
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