Compensation Wake-Up Call
Guess what? As the US job market recovers, companies have been slow to adjust pay for their workers.
The Wall Street Journal reported this past weekend that wage adjustments are lagging the recovery, according to a quarterly survey by Duke University and CFO magazine. However, a correction is in the offing, as CFOs expect wages and salaries to adjust upward over the next 12 months.
Every industry, including real estate, has been doing more with less, and at the same time continuing to squeeze wage adjustments.
This is a slippery slope as the job market heats up. We have experienced more aggressive counter-offers for employees who are handing-in their resignation letters, signaling a more competitive recruiting environment.
Put on your seat belts, CFOs, and up the ante on your compensation forecasts.
MISSION CAPITAL ADVISORS
Director – Debt and Equity Placement Capital Markets Group
(NEW YORK, NY) As a relatively new group, candidates will have minimal client coverage conflicts with other team members and can also call on blocked relationships at their existing firms. Candidate’s clients will also have access to Mission’s industry-leading loan sale advisory business, gaining direct exposure to more than $4 billion of annual loan sale opportunities from the federal government, investment banks, commercial banks, finance companies and hedge funds. Specific duties include managingnew relationships with owners, developers and investors of commercial and multi-family; completing initial opportunity evaluation and analysis; attending industry conferences, symposia and other high level events; and assisting in implementing Mission-sponsored events.
Regional Vice President, Retail Leasing
(LOS ANGELES, CA) The Regional Vice President, Retail Leasing will work in close partnership with the local brokerage community to identify potential tenants and negotiate leases for appropriate retailers. Responsibilities include occupancy and sales performance, possessing an understanding of the pro forma requirements and lender obligations; understanding of re-tenanting and redevelopment; and managing a large network of brokers. Senior-level deal maker with significant mall leasing experience as well as a depth of experience working on new developments, re-developments and newly acquired, stabilized shopping centers preferred.
Facility Engineering Director
(NEW YORK, NY) Role will support the day-to-day technical building and facility operations and support the long-term strategic direction for the NYBO site, which will be fully occupied by more than 1,200 Ross associates in early 2014. Responsibilities include establishing and managing all facility and engineering processes, policies and procedures; vendor management for all third parties; oversight of engineering projects; management of technical issues with non-Ross building tenants; budgeting for capital and operating expenses and managing and maintaining internal relationships with process partners as required and key business contacts. Role will be instrumental in supporting comprehensive facilities due diligence and ongoing building/facility management of NYBO.
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(NEW YORK, NY) Key position in a small team reporting directly to the senior leaders and working on high-priority projects and initiatives to drive the company forward on a global scale. Analyst will be exposed to all parts of the business and will have the chance to develop a deep understanding of the different aspects of real estate. Successful incumbent will have superior analytic and problem-solving skills, and excellent quantitative skills. Financial planning and analysis desirable. Bachelor's degree from a top school and 1-2 years of experience in either investment banking, management consulting, financial services, or accounting at a top tier firm.
USAA REAL ESTATE COMPANY
Director/Senior Director of Dispositions
(SAN ANTONIO, TX) Primary duties include managing and executing sale/disposition functions for RealCo and affiliates; and providing managerial, advanced experience for support in the analysis, identification, approval, due diligence, closing and recording of real estate disposition transactions. Specific duties include: conducting comprehensive reviews of financial and economic information of specific real estate assets to be considered for sales and co-investments based upon Business Plan reviews, correspondence with Portfolio and Asset Managers, etc.; preparing and presenting Real Estate Investment Committee briefs for all disposition transactions and insuring that sale closings are in accordance with such brief approvals; and assuming responsibility for the marketing strategy and brokerage listing management of all disposed assets.
Senior Manager Program Delivery-Americas Real Estate Services
(LOS ANGELES, CA) Reporting to the Director, Facilities & Workplace, the Program Delivery Senior Manager will be responsible for defining, articulating, and managing the delivery of corporate real estate projects - capital, as well as restoration, refurbishment, re-stack, and moves. Position is expected to achieve measurable targets in client satisfaction and service quality, as well as a reduction in real estate construction costs; oversight of internal and external project management teams, as well as key vendors related to Furniture Fixtures & Equipment; and interface heavily with the regional Facilities Management teams. Typical projects involve leased office space and require heavy interaction with Landlords, business unit occupants and their representatives, finance, procurement, and shared services.
VP, Learning & Development
(NEWPORT BEACH, CA) Position will lead Learning and Development function for the Americas. Specific duties include developing and implementing learning and development strategies and initiatives based on business priorities; identifying program opportunities, overseeing the development of courses or programs for classroom, distance, or self-study delivery; developing or purchasing content, overseeing delivery, evaluating effectiveness, and modifying as appropriate, ensuring alignment with business needs and applicability to employee population. Position will also participate in large client events or symposiums which have an educational objective and work collaboratively with other regional learning and development leaders to co-lead global learning initiatives.
COLUMBIA PROPERTY TRUST
Vice President – Asset Management, Eastern Region
(WASHINGTON, DC) Asset Management role in a growth organization, with responsibility for driving value through the generation and implementation of asset strategies for an assigned portfolio of office assets in the Western US. Successful candidate will become part of the senior management team of a well-capitalized national office REIT with direct reporting to the Regional Senior Vice President. Duties include overseeing the asset management support of the acquisition process, which includes opining on the target institutional quality commercial property, the respective market and the related acquisition underwriting; developing and implementing asset strategy; and assisting in due diligence and Investment Committee/Board presentations.