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Layoff the Graduates

One of the most unfortunate results of a recessionary employment market is the layoffs of young professionals who are in their first job. Even worse, perhaps, are the graduates who don’t make it into a job because they signed on with one of the premier investment banks only to have their offer withdrawn. So far, 2008 has not been a good year for many young professionals in real estate, and even those who haven’t received a pink slip are concerned that they soon will. Often, recent graduates are the first on the chopping block because, in the view of the employer, they do not bring critical skills or experience to the table or there just isn’t enough to do until transactions reignite. Unfortunately, this situation only serves to aggravate the declining real estate talent pool. The industry already has a competitive disadvantage when it comes to attracting young talent, and cyclical events like the one we are now facing create an even deeper hole that we will have to dig out of in the future. I suggest that you hold on to young talent and let them experience a down cycle. You’ll be happy to have them as we emerge from this current mess.

Job Opportunities
CASSIDY & PINKARD COLLIERSAssociate(WASHINGTON, DC) The company seeks an associate with experience in lease abstraction, evaluation of operating statements, cash flow financial analysis and commercial real estate underwriting.

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