Recently hired Analyst who just lateraled from another role. Getting no deals while new intern who knows nothing is getting staffed on live deals. What should I do?
Just started a new firm a couple weeks ago. Have just over a year of experience. Work in acquisitions and development. They hired me for development deals. Last couple of weeks I've just been writing investment memos and working on development budgets. Haven't even done an underwriting yet. I've underwritten over a billion dollars worth of multifamily and commercial.
An intern started last week who just graduated from college but has no work experience in an office and knows nothing about real estate has been getting staffed on live acquisition deals. He's working on 5 right now. After training last week. I guess he got hired since the VP of Acquisitions knows him as a family friend. It took him 10 hours to input 1 deal in argus and excel whereas it would take me about 30 minutes. He also constantly butts in and interrupts whenever I'm in a meeting or discussion to ask stupid questions he can figure out on his own. His questions are stuff he should've paid attention when they went over it last week. Also I've tried to help him but he just acts like I don't know what I'm talking about or ignores my advice. Or will just argue with me because he doesn't like certain facts.
There's only 2 development deals but like 10 active core acquisitions deals in the pipeline. I can easily help underwrite them but they seem keen on throwing all the deals at intern who makes minimum wage. While I'm just sitting around looking for extra work. He's also definitely screwed up on inputs.