Looking for advice from other people that work in commercial real estate. I am an L2 candidate and currently work as an analyst in lending, for a large, diversified, non-tarp financial institution. In terms of our lending group, we have been very conservative for a number of years, our losses seem to be almost nonexistent and we are still lending. So while things currently appear to be fine, I still fear being laid off. I really love the company and my current position, and would prefer to not leave. However, given the way the future for real estate looks I am pretty nervous. I am currently not looking for jobs, but if I wanted to are there really any jobs out there? I guess there might be distressed debt or loan work out jobs…but not sure what else. Any advice on what others are doing would be appreciated.
I just checked and the only jobs available available are produce sticker technicians, please inquire with Bankin’
It will be very difficult to find another CRE job. If you want to change careers, I guess you could give it a shot, but especially at a bank (i.e. have the opportunity to swtich to Asset Management/workouts if/when the portfolio blows up), I think you’re better off staying. It will be very difficult to improve your career switching jobs in this market.
I do not want to leave, I am asking just in case I get the ax.
May want to try CB Richard Eliis or Cushman & Wakefield.
Very tough job market in commercial real estate. Good thing you like your current job & company. I work in CRE. Got laid off in June '08. Lucky to find another job in Sept. '08 before the economy fell off a cliff. I know a lot of MBA’s who were in commercial RE but got laid off. Very talented and educated people. Out of work and not finding anything. Even areas like commercial appraisal are very tough right now in terms of findnig jobs (and you’d get paid chump change to start anyway). I can’t speak to options outside of CRE. Obviously, many sectors are hurting so hang in there and keep a nest egg ready in case the hammer falls.
there are plenty of job ops right now available in workout if you stay in commercial banking, both on the CRE and C&I side.