The Salary Surge

  There is a crisis brewing on the talent front. 

A recent study conducted by Korn Ferry found that there is a growing shortage of highly skilled workers on a global level. This dearth will ultimately cause some world-leading economies, including the United States, China and Germany, to experience rapidly escalating employee costs.

The projected increase in compensation costs is staggering. By 2030, it’s estimated that organizations will add more than $2.5 trillion to their annual cost of labor. 

But even more shocking is that these economies will fail to generate more than $8.5 trillion in annual revenue as a result of the talent scarcity. 

A little closer to home, we’re already starting to see repercussions of the workforce shortage. Compensation costs are rising rapidly for both highly skilled labor and the top percentile of talent, and the pace is unlikely to decelerate even as the economy begins to slow down. 

A byproduct of this trend is a more defensive approach by employers who are making sure they take care of their top talent in ways that significantly impact their employees, both in their wallets and in terms of career development. 

Job Listings

  WELLS FARGO Community Lending and Investment, Tax Credit Asset Management (CHARLOTTE, NEW YORK, BOSTON, WASHINGTON, DC) Duties include: supervising and training tax credit asset managers; providing a single point of contact with general partners and internal departments regarding assigned assets; and managing a portfolio of real estate investments that are under construction, in lease-up, or are stabilized.     REVANTAGE CORPORATE SERVICES  Investment Analyst at EQ Office (SAN FRANCISCO) Analyst will support the Western Region in all functions including asset management, lease analysis, acquisition underwriting, disposition support, market analysis, property valuation, and other analytical and creative functions.     CONSOLIDATED INVESTMENT GROUP Multifamily Portfolio Manager (ENGLEWOOD, CO) Responsibilities include managing a portfolio of multifamily assets; approving and executing on property budgets; and overseeing third party property managers.     LOWE ENTERPRISES Development Manager  (ISLE OF PALMS, SC) The Wild Dunes Phase 2 Hotel is a 153 key full service hotel planned for development on approximately 4 acres in the core of the resort at Wild Dunes. Manager will assume project-wide responsibility for, hotel programming, design, project budgets, project pro-formas, schedules, owner and investor reporting and project implementation consistent with the project business plan.     BUCHANAN STREET PARTNERS Real Estate Acquisitions Officer  (NEWPORT BEACH, CA) Duties include: sourcing real estate investments in Buchanan’s Western U.S. target markets; cash flow modeling, including DCF valuations through Argus; and analysis of market data and trends to develop underwriting assumptions.     SELIG ENTERPRISES Lease Administrator, Commercial Real Estate (ATLANTA) Lease Administrator will be responsible for accurately administering lease documents according to departmental guidelines. Duties include: abstracting key lease points, billing recoverable items, accounts receivable and analysis of general ledger property expenses.     EMPLOYEE RETIREMENT SYSTEM OF TEXAS Real Estate Portfolio Manager II (AUSTIN) Manager II will assist the Director of Real Estate in identifying, evaluating and executing limited partnership, co-investment and separate account investment opportunities in core, value add and opportunistic strategies for US and internationally focused funds.     AR GLOBAL Analyst, Healthcare Trust Inc. REIT (NEW YORK) Duties include underwriting, financial analysis and model creation for new acquisitions; financial analysis during life cycle of assets; and drafting new deal submissions and Investment Committee memos.     SILVERSTEIN PROPERTIES  Development & Acquisitions Analyst  (NEW YORK) Duties include: preparing financial models, projections, and analyses on prospective property acquisitions and development opportunities including market analysis, lease analysis, budget creation, project scope, and return on investment modeling.     RICHARDSON PROPERTIES  Asset Manager  (GREENSBORO, NC) Manager will source and structure new joint venture opportunities; assist in modeling and analyzing new real estate investments; and work with banks and mortgage brokers to arrange construction and permanent financing.