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NEW YORK CITY-According to Real Estate Forum Magazine’s Career Development Survey, an online poll of those 35 years old and under working in the commercial real estate field, a majority or near majority of the 221 respondents said they are mostly satisfied in their current positions, but see room for improvement. Just over a quarter of the respondents said they saw themselves at their present companies for 10 or more years.

Although the young professionals, who have worked an average of 6.5 years in the industry, said they felt their companies offered good career advancement opportunities, mentoring and training programs, incentives for professional achievements and an open forum for their ideas and opinions, several participants said their firms were lacking updated technology.

Some respondents noticed a generation gap, noting that the career paths of younger associates are oftentimes blocked by their more mature colleagues, which, in turn, could harm their enterprises in the future. Others maintain there are limited advancement opportunities at their current workplaces. “Yes, a career can be built. However the hierarchy narrows very quickly. Within the company’s real estate group, the highest level to obtain is mid-management,” remarked a corporate real estate manager.

Salary came into question with many participants; with some feeling frustrated by what they feel is a less-than-generous paycheck. Others say there is an inequality in pay and recognition. “The top five employees take home 95% of the net income,” said an associate at an institutional investment firm.

When it came to mentoring, the comments were divided between those who said they were left to fend for themselves and roughly 62% stated that they received a sufficient amount of mentoring and training. And although 59% affirmed that they have the information and tools required to do their jobs to the best of their abilities, several of the respondents’ comments showed a definite dissatisfaction with the technology platforms at their firms.

By Monday, July 30, 2007, the survey titled, Real Estate: The Next Generation will be available for view. The site will feature the career development survey, including results, tomorrow’s newsmakers including nominees, recruitment strategies, sponsor profiles and a place for reader feedback.

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