NEWPORT BEACH, CA—Significant jumps in base salary for each yearof experience are leading top-performer realestate financial analysts to move fromcompany to company in order to get ahead, according to a recentsurvey by RETS Associates. The recruitingfirm find in its third-annual survey of real estate financialanalysts that a clear progression in base salary for each year ofprofessional experience is driving top financial analysts to jobhop.

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RETS polled more than 230 financial analysts with entry-level tosenior-management experience from across the nation on their role,career advancement, qualifications for their position and more.Results showed an approximate $7,000-per-year increase during thefirst five to seven years in the field. This progression trend hasled top-performing or opportunistic financial analysts to morefrequently transition jobs, sometimes in as little as six monthsafter accepting a position. Survey data indicated that 70% ofrespondents have actively pursued a new position (internally orexternally) within the past year and have been on two or moreinterviews.

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According to Kent Elliott, principal ofRETS, “This is undoubtedly a candidate-driven job market forfinancial analysts, given the 'war for talent' for top performersand the consequential impact it has had on base-compensationlevels. We have seen this market dynamic play out in our own workwith unprecedented numbers of job searches for financial analystsin the past year.”

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Elliott adds that as the real estate industry continues toimprove, employers continue to hire financial analysts in largenumbers. In the past year, his firm has seen an 80% increase in thenumber of financial-analyst searches that it has handled ascompared to 2012-2013.

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In addition, analysts who rate as “gurus”in Argus and Excel softwareprograms are in especially high demand, leading firms to employthird-party recruiters to help them secure the top talent. In fact,candidates with these qualifications are such a rarity that firmsare willing to pay them an average of $15,000 more per year.

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Some more-experienced executives have told GlobeSt.com they feelthat Millennials already have a tendency to job hop and that theylack a sense of loyalty to their employer. Since the findingsindicate it would be better to job hop in order to advance theircareer, we asked Elliott how firms can engender loyalty in theiryounger employees. Elliott tells us, "Employers should acknowledgethat Millennials have shorter tenure at companies than othergenerational groups, and in order to retain top Millennial talentthey need to provide them with opportunities for career growth andcommensurate compensation. The market is voraciously hiring, andother employers will impress candidates outside of their company byoffering to promote or pay them more, regardless of whether theircurrent employer believes the individual has the experience to takeon growth or compensation boost."

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As GlobeSt.com reportedin October, another study by RETS showed that youngcandidates are behaving as if have the upper hand in today's robustmarket, the firm's principals JanaTurner and Elliott told GlobeSt.com. The studyrevealed that the majority is satisfied in their current position,but 71% say they've been actively pursuing a job.

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Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.