Hi all,
Current undergraduate student looking to get into one of the firms mentioned above (Eastdil, JLL, CBRE). How is the current internship market looking like? Do you expect that FT offers will be made to interns?
Any info is appreciated. Thanks!
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JLL had a hiring freeze for all summer internships.
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Multiple waves of interns? They have one intern class every year. It's 6 weeks at least for the LA office. NY has done 10 weeks, but not sure if that's changing. They are historically reliant on hiring their interns over some random shmuck that somehow gets into their recruiting pipeline.
oh I’ll be working out of the London office and the recruiter said they have another round of interns coming in after I leave. I’m guessing it’s only for that office - my mistake for assuming it’s for all. thank u for clearing that up!
Do you know if ES is planning on hiring any of their interns for full time positions after the internship?
Hate to say it, but every brokerage is likely canning their internship program - they're not going to get any buy-in from the team heads. The last thing any of us are worrying about right now is the summer intern class. My MD has already told corporate we're not taking anyone, and every update I'm seeing is more people doing the same across the country. I don't even know if I will be in the office by then.
If it's anything, it will likely be some slapdick manager leading webinars virtually with guest speakers every once in a while. You won't be stepping inside a brokerage this summer as an intern. Will be corporate propaganda shoved down your throat for a couple weeks, if you're lucky maybe some case studies. Trust me, I've seen our potential summer program - I'd rather have COVID than participate. Even the participation from teams is canned BS fed by said manager. I certainly won't be enlightening any young pupils with any color commentary this summer, and ZERO chance corporate risks putting any wild cards on the webinars. Will be a bunch of duds talking about fiduciary duty.
Don't kill the messenger. Also - don't worry, the big boys will do something to save face so you can put it on your resume, but unfortunately you won't get exposure to the teams that is vital to lock in a FT offer.
well fuck
CBRE just cancelled their program
Where do you hear that?
Also Fuck
official email sent from cbre, fuck is right
colliers and avison young cancelled for london
Yeah I doubt there's going to be much of an intern program anywhere. Brokerages usually see a reduction in headcounts during recessions due to crappy brokers not closing anything and leaving. Hiring only goes crazy at brokerages when they're too busy to do everything and think having another person would help generate more revenue.
Eastdil just reduced their internship to 2 weeks starting July 13. Max 4 hours of work a day. All virtual...yikes
might as well just cut it at that point Lol
That's basically their way of saying we have nothing for you to do but don't want you to go anywhere else.
Can confirm ES news. Let's hope that the economy picks up quickly after the virus passes.
which office is this?
Can only confirm West Coast offices.
It’s across the country based on the corporate email I saw / had friends at ES confirm.
what do you guys think return offers will look like?
straight reapplying with preference given to interns. it’s hard to evaluate interns when they’re not actually doing anything.
ES has an informal recruiting process though
Is this coming from a position where you have some insight/color on the issue? Or is it a guess as to what might happen?
I just heard Cushman & Wakefield cancelled their program today. I was really looking forward to jumping over to Debt Capital Markets after having done a couple of brokerage internships :(
All well though, I'll probably spend some time this summer getting my brokers license or something.
what region is this for
Americas
CBRE just went virtual
Better than full on cancellation, but other than being able to put CBRE on your resume, what's the use of a virtual internship in brokerage in the midst of a downturn?
It is by no means a waste of time. This is still a great opportunity to make contacts and build your network. Be as helpful and responsive as possible to your employers, but before your internship has culminated, be sure to get a few contacts and let them know that you would like to call or have coffee after this craziness ends. Use the meeting as an opportunity to ask them questions about CRE. From there, you can either use them to network into a FT offer with their shop or as a soft intro to a buyside gig down the line.
It's all about strategy and networking, young'uns.
Look boys - first of all, keep your heads up. I came into the game right as the economy began bouncing back in 09-10. You'll get your shot, just make sure you're ready.
That being said, time to face reality, not only is every intern program cancelled (even if it hasn't been announced yet) but several west coast top tier brokerage offices are straight letting go their analyst/associate level employees.
Things are getting messy out there.
Can you comment on which companies are letting analysts/associates go? Not on the west coast but it may be telling of what’s to come in their other offices. So far I’ve heard Colliers and CW are doing layoffs
heard nkf & cb
I thought previous poster just said cbre was going virtual and not entirely canceled.
This is why going with an established team out the gate makes the most sense. Everyone bitching about Stolly and Appel's work environment - guess what, their budgets are huge and will be the last to have to let analyst's go.
Heard Eastdil also delayed FT start dates until Jan 2021
I believe today is this day that JLL is supposed to send an email to all their interns on what the fate will be.
Yeah I never got it. Really pissed
I am also yet to receive it
Sam005 or axre12; Will you guys comment or DM me when you know?
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