What is with these “Promotions” at Private shops?
I’ve seen some crazy promotions and title changes at private shops like someone who was an analyst for 8 months and now is an Associate or someone who went from Analyst—-Associate to VP in like 2.5 years total vs people at like BX are analysts for like 2-3 years and then Associates and then Senior Associates for years before getting to a Director or VP level.
Is this just mainly private shops trying to pump their chests out to investors and such? For example, much more rep having a “VP” send an email vs an Associate.
Real estate titles don't matter.
I'm going to ignore brokerage, because they are easily the most ridiculous, but even at development shops there seems to be two forces pushing in opposite directions.
At both regional and national developers, I've seen an amusing amount of people coming right out of grad school as a "Manager" yet they essentially do analyst-level work at their firm. Further, there are a number of people in their late 20's who are "Directors" or "Vice Presidents" with barely 1-2 direct reports and maybe 5 years of experience.
On the other hand, it seems to be a trend at some big-name firms to actively deflate titles, leading to people who are actually on the Manager level with full DM responsibilities being "held back" with an Associate title.
It all makes it a bit confusing to find a job. Personally, I could legitimately apply for Development Associate, Development Manager, AVP, VP, and/or Director roles and none would be a stretch - just all depending on which firm it is.
As somebody who recently took an analyst role because it paid more than a director role I can relate.