Want a real estate job? It’s 10x harder than Harvard. Here’s what works...
The real estate job market is extremely competitive—far more job seekers than openings. But hiring has picked up, especially for analysts and associates, and we expect that trend to continue.
We recently assisted with three acquisitions and development roles at regional firms ($100K-$175K total comp), which gives us fresh reads on the market and what it takes to breakthrough.
The numbers were staggering: 983 applicants for three positions. Only 32% advanced past the first screen, 9% passed our skills assessments, and just 2% landed interviews. In the end, only 0.3% were hired. i.e., it was literally 10x harder to land one of these jobs than to get into Harvard.
But here’s the key takeaway: preparation beats connections. Firms are too lean to hire based on relationships alone; they need the best talent.
The strongest candidates in our sample had:
-- Targeted experience and a clear dedication to CRE
-- High-quality reps in relevant roles
-- Strong academic outcomes
-- Curiosity and real estate knowledge
-- Basic real estate skills (e.g., valuation)
-- Proficiency in writing, Excel, and modeling
Differentiating between interviewees was tough, but getting into that group? Predictable and repeatable. Targeted preparation opens doors. The likelihood of getting a job if you made it into the interviews was 1 out of 7 instead of the average applicant's 1 in 328 odds.
Invest in yourself. Build reps. Own your path.
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