First In-Depth Assessment of Commercial Real Estate Job Market Gives Cause for Celebration as Well as Concern for the Economy

War for Talent Rages in Superheated Market, According to SelectLeaders Job Barometer

NEW YORK CITY, May 21 - Results from the first SelectLeaders Job Barometer report, compiled by SelectLeaders, an online job board for the commercial real estate industry, in conjunction with Cornell University's Program in Real Estate, forecast solid hiring and compensation growth, but also reveal worrisome trends.

The findings were reported by Anthony J. LoPinto, CEO of Equinox Partners, a retained executive search firm, and founder of SelectLeaders, and Dr. David Funk, director of the Cornell University Program in Real Estate.

"Hiring and compensation provide a barometer for trends in the commercial real estate industry, as well as for the U.S. economic outlook," Mr. LoPinto says.

Among the notable findings of the SelectLeaders Job Barometer are:

Job postings for the commercial real estate industry have soared by 35 percent during the first quarter of 2007.
66 percent of senior executives expect compensation to increase in the next six months, and over 60 percent of industry employers expect to increase hiring over the same period.
The Southeast region, led by the Atlanta and Charlotte markets, had the fastest job growth of any region, experiencing a 60 percent increase in job postings in the first quarter, and, surprisingly, the Midwest region, led by the Chicago market, experienced a 43 percent increase in job postings, making it second in job growth nationally.
New York and California are the hottest areas for real estate finance jobs, but New York attracts twice as many applicants as California, which has led to a talent shortage on the West Coast.
Despite the fact that demand is growing for asset and property managers, the majority of job candidates seek the highly desirable "deal-making" positions that involve acquisitions, development, capital raising and investment banking. (...) Read More

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