The 7 Best Jobs In Commercial Real Estate
Whether you’re a recent grad looking for the best sector and location to launch a career, a burgeoning CRE whiz scouting opportunities, a seasoned industry pro looking to make an overdue change, or simply a market maven/analyst excited by the freshest employment statistics and trends, our review of the best jobs in the biz (now) gives you the data points you need to chart out your career path and go into your next networking event informed.
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Job Title: IT Manager
Job Description: Commercial real estate, notoriously slow to develop and adopt new technology, has seen a surge of software and tech products created specifically for the industry. CRE execs are quickly finding that, once they invest the money to update their systems and commit the time to train their employees, they can leverage these platforms, software and devices to streamline operations and substantially bump up their bottom lines. IT managers are vital for discovering, integrating and maintaining the technology their teams rely on.
Salary Range (25th to 75th percentile): $99k to $162k/year
Projected 10-year growth rate: 15%
Optimal Locations (highest pay and growth prospects): San Francisco; San Diego; San Jose; New York; Washington, DC; Atlanta; Chicago
Job Title: Construction Management
Job Description: The pick furthest from your standard desk job, construction management necessitates being on-site while supervising and coordinating contractors and workers. Involved in all aspects, from preliminary talks with engineers and architects through delivery, construction management is responsible for obtaining work permits, budgeting, making sure projects stay on schedule and liaising between clients and laborers. High-level planning skills, flexibility and fiscal acumen are essential, as construction managers must interpret and negotiate contracts, generate timetables, ensure building compliance and respond with solutions to emergencies and delays.
Salary Range (25th to 75th percentile): $65k to $114k
Projected 10-year growth rate: 12%
Optimal Locations (highest pay and growth prospects): Atlantic City, NJ; Vineland, NJ; Bridgeport, CT; Oxnard, CA; Philadelphia; Phoenix
Title: Accountant
Job Description: Fluent in the language of the almighty dollar, the accountant is responsible for the measuring, tracking, disclosing and guaranteeing of a company’s financial position. Reliable accounting is an essential component for any successful endeavor, and most companies have dedicated in-house departments, though some outsource for specific tasks. The workload may be cyclical, peaking in Q1 as companies face deadlines to file their financial statements, and ebbing afterward. The Big Four represent the largest employers of accountants worldwide.
Salary Range (25th to 75th percentile): $51k to $88k/year
Projected 10-year growth rate: 11%
Optimal Locations (highest pay and growth prospects): New York City; San Jose; Salinas, CA; Washington, DC
Title: Commercial Real Estate Broker
Job Description: Brokers facilitate the sale and leasing of properties on either side of the deal. The companies they work for get a percentage when the property transacts, and the agents get a slice of that. Senior agents' compensation packages are typically skewed toward commission, and are salary-light. Commission pay is more variable than the other positions cited in this slideshow, but because you “eat what you kill,” talented brokers find the job lucrative and rewarding. The meritocratic nature appeals to those who are confident, extroverted and willing (and able) to take a financial risk.
Projected 10-year growth rate: 11%
Optimal Locations (highest pay and growth prospects): New York; LA; San Francisco; Chicago; Boston; Miami; Raleigh; Austin
Title: Architect
Job Description: Architects are enlisted to plan, design and oversee the construction of houses, factories, office buildings and other structures. They must be highly creative and have an eye for aesthetics, receptive to clients' wishes, and adept at figuring out and delivering that vision. Those rare individuals who possess left-brain and right-brain smarts in equal measure are particularly well-suited to the job, as new sophisticated Computer Aided Design (CAD) has made tech-savvy architects invaluable. About 20% are self-employed.
Salary Range (25th to 75th percentile): $57k to $95k/year
Projected 10-year growth rate: 7%
Optimal Locations (highest pay and growth prospects): Lancaster, PA; San Francisco; Atlanta
Title: Marketing Manager
Job Description: Marketing managers seek to maximize profits from the sale of their firms' goods or services by promoting, improving and strategically pricing them. Marketing managers closely monitor their own company's sales, as well as industry trends and the competition's offerings. They understand the costs and lead times associated with production, generate advertising and go-to-market plans, and are frequently consulted by R&D to position a new product and time its rollout for market penetration. Communication skills, comprehension of consumer psychology and creativity are invaluable assets.
Salary Range (25th to 75th percentile): $90k to $171k
Projected 10-year growth rate: 9%
Optimal Locations (highest pay and growth prospects): Seattle; New York; San Francisco; Chicago; Houston
Title: Financial Manager
Job Description: Responsible for carefully crafting portfolios for the individuals and corporations who entrust them with their hard-earned cash, financial managers invest on behalf of, and sometimes alongside, their clients. They also advise and suggest investment strategies tailored to clients’ risk tolerance and goals. They must always have their fingers to the pulse of the various markets and possess a genuine interest in the macroeconomic factors that influence them.
Salary Range (25th to 75th percentile): $83k to $159k/year
Projected 10-year growth rate: 9%
Optimal Locations (highest pay and growth prospects): New York City; San Francisco; San Jose; Philadelphia; Bridgeport, CT; Washington, DC; Miami
