The hiring market remains hot for financial analysts in the real estate industry, and such specialists are avidly looking for opportunities to move up, says recruiter RETS Associates.
In a recent survey by the firm, 65% of analysts said they had pursued a new position during the last year — and 43% said they’d been on three or more interviews. Better compensation was their top motivator, followed by growth potential. The vast majority, 75%, said they would be willing to relocate for a better position.
The brisk pace of interviewing indicates that firms are still actively filling out their rosters as transaction volume remains high. RETS’ searches for financial analyst positions, which have grown rapidly over the past few years, were up another 29% for the 12 months ending in July.
The survey also looked at factors affecting salary and found that a financial analyst with a master’s degree typically earns only 6-10% more than one with a bachelor’s degree. But those with job-related expertise can command a higher premium. For example, an analyst who’s highly proficient with Argus software can earn 13% more than a novice.
“In real estate you are paid for your experience, you are not paid for your potential,” said Kent Elliott, a principal at RETS, of Newport Beach, Calif.
The firm’s fourth annual survey of real estate financial analysts surveyed 340 professionals ranging from entry to senior levels. It was conducted in association with Charles Schilke, a former director of real estate programs at Johns Hopkins University and Georgetown University.