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Perspective

Last week, the Wall Street Journal reported that hiring on college and university campuses is up, a sure indication that employers are diving back into the fountain of youth this year. In fact, according to a study by the National Association of Colleges and Universities, employers plan to hire 17% more graduates from the class of ’07 than last year, and the competition is fierce among all industries. For example, Deloitte & Touche alone is reported to be hiring 3,300 graduates. This competition is bad news for real estate, which has chronically lagged behind investment banks, technology companies and blue-chip consulting firms in attracting the top talent. We need to address this together as an industry because of the acute need to develop more and better talent. How? Well, realizing the need, many major real estate associations–in a program we are coordinating–are now proactively addressing this issue by offering intern job postings on their websites free of charge, to help drive the development of more and better internship programs. Such intern programs are a powerful tool for attracting potential employees early and providing an opportunity for training and learning the corporate culture. Often, such relationships translate into a full-time offer upon graduation.

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