A: "I'm thinking about leaving."
B: "A change might be good, but what's going on?"
A: "I'm just not appreciated."
B: "How so?"
A: "I haven't been promoted in two years."
B: "Are you fairly compensated?"
A: "Ish. But I do a lot and haven't seen growth recently."
B: "I'm here for you, but the grass isn't always greener."
A: "But I deserve to get promoted."
B: "You may just need a bit more experience."
A: "But I'm stronger than [x] and he just got promoted."
This is hard to talk about publicly, but everyone can't be above average.
...and we all think we're above average.
One of the most common conversations we have mirrors the back-and-forth above.
Early-career wins are invigorating. They affirm that you're on the right track. That you're doing something well and bringing value to the team. It's natural to think you're ready for the next challenge.
But commercial real estate tends to lean more on skills and less on knowledge, and it takes time to develop those skills.
Hypothesis: a lag between performance and promotion isn't necessarily a sign of a bad company. The extent and randomness of the lag separates great opportunities/firms from the rest.
Our suggestions: try to be the best, but appreciate that it's impossible for anyone to be the 'best' all the time. Think in terms of rolling averages instead of months.
PS -- Want to level up your real estate skills? DM us to explore our upcoming FastTrack cohort.
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