Narrative buster?
Three years ago we asked real estate employers to identify their "top analyst talent." We sent those analysts a quick survey about what they liked, didn't like, how much they were getting paid, etc.
It was a small survey of only 30 young professionals, but the anecdotal information that came back from it was extremely interesting.
An update...
We recently sent an updated survey to those same young professionals to get a "same store" look at how their careers are progressing in a challenging environment.
Their feedback suggests you might want to amend a few popular narratives:
Narrative 1: "2023 was a terrible year for real estate."
...unless you're a top young professional.
Narrative 2: "Early career CRE professionals don't work as hard as I did."
...but the exceptions to the "rule" are extremely valuable and are quickly climbing the learning curve.
Our biggest takeaway...
Talent > circumstances
Background on our perspective...
-- We sponsor three skills-oriented training courses a year for hungry real estate professionals. These courses focus on the four real estate transactions and the eight fundamentals that define our industry. Our 20 member instructional team consists of real estate practitioners. We deliberately offer no certifications and are 100% focused on critical skills.
-- The most common participant in our courses is someone who has experienced outsized early career success but realizes (i) they need skills to get where they want to be and (ii) that those needed skills aren't actively taught in our industry.
-- Most of the people who take our classes aren't entry-level analysts. The average age typically falls between 27 to 29, but participants range from 20 to 60. This vantage point gives us a clear view of career progression and top talent at various levels.
-- The biggest challenge we see isn't skill acquisition. The mechanics that define our industry are well established. The biggest reason we see people fail to acquire those skills is a misguided approach. Many people think getting a big promotion or getting the right job is about uncovering the magic stone. i.e., if they just network enough, someone will recognize them and put them in the game. Instead, we tend to think that rewards follow skills. Every one of our participants shares our commitment to skill-building.
Does this survey reflect your experience with top early-career talent?
#creanalyst #toptalent #compensationdata