2010 ULI Fall Meeting Presentation October 13, 2010 1:00 pm to 2:15 pm

1. 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.

2. Overall Employment ContextOverall Employment Context
or How Bad is It?
2

3. J b L i P t WWII R i
Employment Context
Job Losses in Post-WWII Recessions
3
Source: www.calculatedriskblog.com

4. Hires and Separations
Employment Context
Hires and Separations
4
Source: www.calculatedriskblog.com

5. Real Estate Market
Optimism & Warning SignsOptimism & Warning Signs
5

6. Real Estate Market: Attractive Yields
6Source: PPR/Cornell Real Estate Conference

7. Real Estate Market: Recovery of Fundamentals
7Source: PPR/Cornell Real Estate Conference

8. Real Estate Market
8

9. Real Estate Market: Pipeline of Residential Distress
9
Source: www.calculatedriskblog.com

10. Real Estate Market: Housing Returns in 2014?
Source: U.S. Census Bureau/John Loundsbury
10

11. Real Estate Market: Negative Equity & Debt
11
Source: www.calculatedriskblog.com

12. Real Estate Markets: Negative Equity by State
12
Source: www.calculatedriskblog.com

13. Real Estate Market: Home Equity Extraction
13
Source: www.calculatedriskblog.com

14. Employment Indicators
14

15. Employment Indicators: Consumer Spending
15Source: PPR/Cornell Real Estate Conference

16. Employment Indicators: Signal More Job Creation
16Source: PPR/Cornell Real Estate Conference

17. Employment Indicators: Worker Productivity & Employment
17
Source: Bureau of Labor Statistics/CEL & Associates

18. Employment Indicators: Job Openings = Trailing New Hires
18
Source: Bureau of Labor Statistics/CEL & Associates

19. Job Barometer
19

20. Nationwide Job Postings by Source
Job Barometer
Nationwide Job Postings by Source
February 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

21. Monthly Trend in Job Postings
Job Barometer
Monthly Trend in Job Postings
Source: Cornell Program in Real Estate/SelectLeaders
21

22. S l tL d P ti 2006 P t
Job Barometer
SelectLeaders Postings 2006-Present
22
Source: Cornell Program in Real Estate/SelectLeaders

23. Job Barometer: Applications per Job Posting
23
Source: Cornell Program in Real Estate/SelectLeaders

24. Job Postings by Business Field
Job Barometer
Job Postings by Business Field
24
Source: Cornell Program in Real Estate/SelectLeaders

25. W kl J b P ti b S t
Job Barometer
Weekly Job Postings by Sector
25
Source: Cornell Program in Real Estate/SelectLeaders

26. 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

27. Education & Retraining Link:
The College Premium Imperative
27

28. Unemployment and Education
Education Link
Unemployment and Education
28

29. 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

30. Education Link
Cornell
Compensation
Trends sinceTrends since
2005
May 2010May 2010
Compensation Data
30Source: Cornell Program in Real Estate

31. Education Link: 2009 Salaries for Law Graduates
31
Source: Association for Legal Career Professionals

32. Trends in CRE Employment
32

33. Squeeze on the Middle
Trends
Squeeze on the Middle
33
Source: CREW Network /Cornell Program in Real Estate 2010

34. Trends
Disparate Gender Impact in Unemployment
34
Source: US Bureau of Labor Statistics

35. Projections & Strategies
for Commercial Real Estate Employmentfor Commercial Real Estate Employment
35

36. Projections & Strategies: Job Recovery Scenarios
36Source: PPR/Cornell Real Estate Conference

37. Projections & Strategies: Employment Growth by Area
37Source: PPR/Cornell Real Estate Conference

38. 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

39. 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.