Re-Margining

The real estate industry is just now beginning to, sort of, recover after the great recession. On the heels of organizational cutbacks of more than 20% across the board, and with a slow climb back, the general consensus is that, when all is said and done, there will be net fewer real estate jobs at the back end of the recovery than there were before all this began in 2008. I tend to agree, and there is one other thing to consider: compensation levels have also been cut back. Employers across every sector are grappling with how to address the new reality and yet remain competitive. In my view, the shakeout is going to be on the incentive compensation front. Bonus dollars are going to be harder to get and the total percentage of bonus to base salary will be reduced by at least 25%. That is, if a bonus program used to provide for an annual bonus of up to 100% of base salary, in the new paradigm, that percentage target is now 50%-75%. Long term incentives will be scaled back as well, and many employers are rewriting compensation plans to address this. It is going to take the balance of this year and most of next year for the full re-margining to take effect.

Job Opportunities SELECTLEADERS Director of Real Estate (NEW YORK CITY) The director will review of current operations, processes and procedures and recommendation of strategic initiatives to improve efficiency, enhance revenue and property value; day-to-day operation and management of the physical plant which includes 21 pre-war buildings and miscellaneous office and clinic location leases; among other duties. ING CLARION Real Estate Research and Investment Strategy Analyst (NEW YORK CITY) The analyst will assist with the preparation of market and submarket research reports across varied property types, geographic regions, and investment types for presentation to acquisition teams and Investment Committee; and prepare detailed strategy reports, which analyze and recommend investment strategies, themes, allocations, rotations, techniques, sector and market plays, and timing; among other duties. OXFORD CO. Vice President, Operations (ANN ARBOR, MI) The VP, operations will determine financial, business management, and marketing strategies as appropriate, establishing and achieving measurable business objectives for the three companies; oversee and manage operations of each company in alignment with its established mission; and assist president in developing new business; among other duties. SELECTLEADERS President (MID-ATLANTIC REGION, VA) The president will play a key role in representing, and integrating the east region with the other regions of the company; implement and direct professional development and leadership programs to recruit, motivate and retain top brokers, service line professionals, and staff to achieve growth and maximize revenue goals; and help increase the visibility of the company in the region with community and business leaders, representing the company at relevant events, and networking with key decision-makers in support of the brokers' business development efforts; among other duties. SHORENSTEIN REALTY SERVICES L.P. General Manager (SAN FRANCISCO, CA) The general manager will provide leadership and direction to and effectively manage relationships with other business groups to ensure a high level of tenant service and achievement of company and property goals and objectives; develop and maintain an effective ongoing tenant relations plan, implement initiatives, and maintain an operating environment to achieve a satisfactory level of tenant service as measured by formal and informal feedback and surveys; develop and submit complete and accurate annual budget(s), meeting all deadlines and demonstrating thorough analysis and consideration for the goals of the asset as well as market conditions; among other duties. COLE REAL ESTATE INVESTMENTS Director, Asset Management/Dispositions (PHOENIX) The director will be responsible for achieving the best outcome for our investors by maximizing the financial performance for a portfolio of real estate assets located throughout the continental US; maximize total return for each assigned asset through the analysis of property efficiencies and identifying opportunities for improved performance and/or re-development; and work closely with property managers and leasing team to provide direction for and oversight of business plans, budgets, forecasts, leases, analysis and approvals; among other duties. COLLIERS INTERNATIONAL Managing Director Sacramento/Roseville (SACRAMENTO) The managing director will provide leadership, working in conjunction with the operations manager and office sales professionals, for the bottom line profitability of the office, which includes: managing the business to an annual plan, with clearly stated and goals and objectives; and ensuring a return of 15% of revenue before any corporate overhead allocations; among other duties. AVALONBAY COMMUNITIES Senior Risk Analyst (ARLINGTON, VA) The senior risk analyst will assist in the annual insurance renewal process by compiling underwriting submissions, reviewing and analyzing quotes and developing premium allocations; review all documentation to ensure all policies are being administered in an accurate fashion; and prepare the annual budget of premium and loss allocations for all existing properties; update and prepare variance analysis as requested; among other duties. Promotions No more than one submission per company will be considered per week. Submissions with multiple names will be capped at three for coverage in Executive Watch. <!----> Continue Reading for Free Register and gain access to: Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts Educational webcasts, white papers, and ebooks from industry thought leaders Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor Sign Up for Free *May exclude premium content Already have an account? Sign In Now NOT FOR REPRINT © 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing. SHARE ON FACEBOOK SHARE ON TWITTER Anthony J. LoPinto Tony LoPinto is the Global Sector Leader of Korn Ferry’s Real Estate Practice and founder of SelectLeaders. For the past 18 years LoPinto has been serving his clients with deep knowledge and perspective on talent needs and organizational challenges to public and private companies – knowledge gained from a 25-year career in real estate. Prior to his current position, he founded and served as chief executive officer of a boutique real estate executive search firm, where he oversaw offices in New York, Chicago, Washington, DC, San Francisco and Los Angeles. He has successfully led several high profile search engagements for chief executive officers, directors and a wide-range of executive level positions across all industries and sectors. He earned a Bachelor of Arts degree in European history from Loyola University in Chicago. More from this author ⟶ Dig Deeper Aggregate (external) National Trending Stories 1 Here Are the Markets Where New Multifamily Deliveries Should Decrease 2 Multifamily Property Values Fall as Insurance Premiums Climb 3 The Factors Weighing Down Multifamily Rents and Profit Margins 4 Slight Uptick in Unemployment Could Spell Recession 5 H1 CMBS Issuance Almost 3X Over 2023 Events GlobeSt. Multifamily Fall 2024 October 15, 2024 - Los Angeles Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR! More Information Real Estate GlobeSt. Healthcare Real Estate 2024 December 02, 2024 - Scottsdale Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare event of the year! More Information Consulting Consulting Best Firms to Work For 2024 September 12, 2024 - New York Consulting Magazine identifies the best firms to work for in the consulting profession. More Information Recommended Stories Mental Health, Wellness Programs Are Key Business Strategy By Emily Payne | April 29, 2019 Companies are waking up to the impact of mental health on business goals and putting strategies in place to improve. Landlord Entitled to Limited Additional Rent By Igor Pleskov and Ian M. Livaich | April 29, 2019 On April 9, the Pennsylvania Superior Court held that a commercial landlord was entitled to recover certain portions of unpaid additional rent under a lease agreement but limited the landlord's recovery based on the statute of limitations. How Goodwin Became a Household Name in Startup Community By Xiumei Dong | April 29, 2019 “We are looking to grow our footprint at this point,” said partner Lynda Galligan, who has led the firm's California growth. “We have everything covered, it's just a matter of growth.” Resource Center White Paper Sponsored by Placer Labs Inc. Migration Hotspots in a Cool 2024 Market Discover the latest insights on domestic migration trends in 2024 with this comprehensive white paper. Uncover the changing patterns and emerging hotspots shaping the CRE landscape today and what it means for you. Browse More Resources › On-Demand Webinar Sponsored by LeaseAccelerator Real Estate Administration - 10 Ways To Save Discover how to optimize your real estate portfolio through ten actionable strategies that can help you achieve significant cost savings. Browse More Resources › White Paper Sponsored by TheGuarantors Cracking the Renters Insurance Conundrum Multifamily owners and operators are seeing rising expenses squeezing margins, making it essential to identify new revenue streams and cut unnecessary costs. Learn how to crack the renters insurance conundrum with solutions tailored to your goals, allowing you to mitigate risk, streamline operations, and uncover new ancillary revenue opportunities. Browse More Resources › GlobeSt Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now! Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business. Exclusive discounts on ALM and GlobeSt events. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. Join GlobeSt Already have an account? Sign In Now