What Employers Want!What Employers Want!  Where are the Jobs?  

Emerging Compensation Strategies for the New 

Economy

Wednesday, October 13

1:00 p.m. – 2:15 p.m.

Overall Employment ContextOverall Employment Contextor How Bad is It?

2

J b L i P t WWII R i

Employment Context

Job Losses in Post-WWII Recessions

3Source: www.calculatedriskblog.com

Hires and Separations

Employment Context

Hires and Separations

4Source: www.calculatedriskblog.com

Real Estate Market Optimism & Warning SignsOptimism & Warning Signs

5

Real Estate Market: Attractive Yields

6Source: PPR/Cornell Real Estate Conference

Real Estate Market: Recovery of Fundamentals

7Source: PPR/Cornell Real Estate Conference

Real Estate Market

8

Real Estate Market: Pipeline of Residential Distress

9Source: www.calculatedriskblog.com

Real Estate Market: Housing Returns in 2014?

Source: U.S. Census Bureau/John Loundsbury 10

Real Estate Market: Negative Equity & Debt

11Source: www.calculatedriskblog.com

Real Estate Markets: Negative Equity by State

12Source: www.calculatedriskblog.com

Real Estate Market: Home Equity Extraction

13Source: www.calculatedriskblog.com

Employment Indicators

14

Employment Indicators: Consumer Spending

15Source: PPR/Cornell Real Estate Conference

Employment Indicators: Signal More Job Creation

16Source: PPR/Cornell Real Estate Conference

Employment Indicators: Worker Productivity & Employment

17Source: Bureau of Labor Statistics/CEL & Associates

Employment Indicators: Job Openings = Trailing New Hires

18Source: Bureau of Labor Statistics/CEL & Associates

Job Barometer

19

Nationwide Job Postings by SourceJob Barometer

Nationwide Job Postings by SourceFebruary 2008 – September 2010

Source: Cornell University Program in Real Estate/SelectLeaders. New postings of commercial real estate positions on key job boards from February 2008 to September 2010: Base= 14,670 postings. 20

Monthly Trend in Job PostingsJob Barometer

Monthly Trend in Job Postings

Source: Cornell Program in Real Estate/SelectLeaders 21

S l tL d P ti 2006 P t

Job Barometer

SelectLeaders Postings 2006-Present

22Source: Cornell Program in Real Estate/SelectLeaders

Job Barometer: Applications per Job Posting

23Source: Cornell Program in Real Estate/SelectLeaders

Job Postings by Business Field

Job Barometer

Job Postings by Business Field

24Source: Cornell Program in Real Estate/SelectLeaders

W kl J b P ti b S t

Job Barometer

Weekly Job Postings by Sector

25Source: Cornell Program in Real Estate/SelectLeaders

Job Postings by Selected States

Job Barometer

Job Postings by Selected States

Source: Cornell Program in Real Estate/SelectLeaders. New postings of commercial real estate positions on key job boards from Feb. 2008 to Sept. 2010. Base= 14,670 postings

Education & Retraining Link:The College Premium Imperative

27

Unemployment and EducationEducation Link

Unemployment and Education

28

Education Link

Real Estate, MBA & Law Compared

Source: MBA data provided by the Graduate Management Admissions Council's (GMAC) Global MBA® Graduate Surveys administered to US MBA's from the graduating classes of 2000-2009. Real estate data obtained from the graduate programs in real estate at Cornell University, MIT and the University of

29

the graduating classes of 2000 2009. Real estate data obtained from the graduate programs in real estate at Cornell University, MIT and the University of Southern California for 2003-09. Law data obtained from Nat’l Assoc. of Legal Career Professionals (median starting salary by year.

Courtesy: Cornell Program in Real Estate

Education Link

Cornell Compensation Trends sinceTrends since

2005

May 2010May 2010 Compensation Data

30Source: Cornell Program in Real Estate

Education Link: 2009 Salaries for Law Graduates

31Source: Association for Legal Career Professionals

Trends in CRE Employment

32

Squeeze on the MiddleTrends

Squeeze on the Middle

33Source: CREW Network /Cornell Program in Real Estate 2010

Trends

Disparate Gender Impact in Unemployment

34Source: US Bureau of Labor Statistics

Projections & Strategies for Commercial Real Estate Employmentfor Commercial Real Estate Employment

35

Projections & Strategies: Job Recovery Scenarios

36Source: PPR/Cornell Real Estate Conference

Projections & Strategies: Employment Growth by Area

37Source: PPR/Cornell Real Estate Conference

Projections & Strategies

What Employers are Looking for• Skill re set in Commercial Real Estate• Skill re-set in Commercial Real Estate• Re-engineering of today’s real estate company• Multi-tasking multi-use multi-sectorMulti tasking, multi use, multi sector• Luxury to focus on “fit”• Contingent work (assessing the rent factor)• Net hiring factor

38

What Employers Want!What Employers Want!  Where are the Jobs?  

Emerging Compensation Strategies for the New 

Economy

Wednesday, October 13

1:00 p.m. – 2:15 p.m.