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Outlook for ‘08

Best wishes for a happy, healthy and prosperous 2008. Last year certainly was interesting, to say the least, considering the sub-prime debacle, which in turn kicked-off a credit crisis from which we are still reeling. While we should not underestimate the severity and far-reaching effects of that situation, the credit markets will begin to settle down, and stronger liquid players will view 2008 as a year of opportunity. This will translate into a relatively active recruiting environment, particularly for market or sector specialists; asset and portfolio managers who have lived through a cycle or two; and, yes, developers (those with significant mixed-use or product specialties, such as medical office and assisted-living). Last year also saw fourth-quarter job freezes for the mid-levels of organizations, as managers tried to assess the market. These will be lifted in ’08, and hiring will kick back into gear (except for finance types, a segment that will continue to lag). As for compensation, base salaries will remain flat, but incentive comp will be strong for measurable performance. As it should, pay for performance will begin to dominate incentive compensation plans.

Job Opportunities
INVESCO REAL ESTATEReal Estate Underwriter(NEW YORK CITY) The general role within the acquisition team is to underwrite potential direct real estate investments on behalf of INVESCO Real Estate’s pension fund clients.

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