I have a first round interview call with a recruiter tomorrow for an associate role at HIG Realty; does anyone have any insight on how the interviews are or what the culture is like on the real estate side? Their realty website is pretty bare and just want to get a better feel on them. Also if anyone knows how much bonuses are usually around for a 1st year associate I'd appreciate it.
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Take this with grain of salt because I have never worked there. However, I have heard that culture is pretty bad - overworked and relatively underpaid (when compared to shops with similar hours). Have been told that it’s a great learning program for associates but you do a lot of work for unrealistic deals, basically similar to banking.
That's what I've been seeing regarding HIG Capital reviews, so I was wondering if their realty team was the same way. Do you know how many hours they work?
The job description was also pretty bare it seemed more due diligence work than actual acquisitions or asset management.
OP, how did the interview process go?
Any idea on their reputation? Don’t know too much about them.
I didnt get the gig but interviewed about ~15 months ago.
The interview process was pretty straightforward forward, and everyone seemed nice. They mentioned that don't publicize their deals intentionally, as I was trying to do my homework, and it was tricky.
At the in-person super day, they give you 15 minutes and give you a written test that's about 8-10 questions. It's all mental math and it really fucked me up.
They say you cannot erase anything and give you a pencil. It was just a bit rattling.
Answers were far from round numbers, and from what I remember, one question consisted of a purchase price, uneven CFs, and a higher sale price, and they wanted you to calc IRR and sponsor's total profit as they gave two-tier IRR hurdles. I started laughing after I panicked because it was clearly just to see how you would go about answering it and not expecting a down-to-the-dollar answer. Still, though, fuck that. Give me an Excel and a very short time window, a pencil-based pop quiz, is just unnecessary, especially for an off-cycle non-structured interview.
Am I bitter, sure.
I would immediately withdraw if I received something like that during an interview. Toxic interview = even more toxic workplace.
really helpful +1. any insights into comp?
They wanted to test if you can talk through deals on the fly and that you have an intuitive understanding of the math, not to check if you are an excel wizard.
That isn’t toxic. That is filtering for what they want.
I don't know what you're talking about.. they didn't ask him to talk through anything? They gave him a pencil and said don't erase anything... that's just trying to do complex math and seeing how bad you mess up. Waste of time IMO.
Would be different if it was a conversation and they asked him to generally walk through it.
Any more feedback on the in-person super day. Have one with them coming up.
No, no more other than the test. Everything else was fairly straightforward and more fit than anything else.
One guy was a little pushy when talking through recent acquisitions on my resume. It was a value add office and basically, he was trying to get to the point that when a 60% occupied office stabilizes how much does Opex move on a psf basis? The key here was to be able to understand that since it's not a NNN building, you would see an increase in opex but only by the % of opex that was variable. This is because fixed expenses wouldn't increase with occupancy (taxes, insurance, etc).
How did the superday go? Can I PM you?
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