CoStar Group, Inc. – Washington, DC
Coaching and Development: • Managers will spend 80% of their time prov… CoStar Group, Inc.
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- Comp & Benefits
- Work/Life Balance
- Senior Management
- Culture & Values
- Career Opportunities
I worked at CoStar Group full-time (Less than a year)Doesn't RecommendNeutral OutlookApproves of CEODoesn't RecommendNeutral OutlookApproves of CEO
I can't give too harsh a review of CoStar, because it was my first job out of college. They give professionals with little to no experience a chance. The environment is very structured, which keeps most employees focused and sharp. There were frequent training classes or seminars for tips on how to improve interview skills to maintain update frequency on client portfolios. There was certainly a competitive aspect as well, listing group winners on a weekly, monthly, and quarterly basis. The recognition, organization, and incentives here were definite pros.
Also, there is a clear path of upward mobility from Research Associate, Analyst, Manager, etc. I found my Manager very accessible and also spoke with senior management a few times because I happened to be a top performer. The regular Town Halls from Andy (CEO) were also beneficial to understand the direction the company was going and how our goals should change.
Simple perks like decent break area, fruit/snacks, and building amenities are pretty common in HQ offices as well. The company parties are hosted at impressive venues (museums oftentimes).
The actual employee program is one that I hope to never experience again. It felt sort of like a factory, cranking orientation groups through weeks of painfully boring training classes prior to their introduction to the actual day-to-day responsibilities. It was almost so regimented that there was zero room for creativity, suggestions, or personal growth.
The career path is very limited to Sales or advancing your "Research" skills, which by the way, are not real research anyway but just google maps and archaic public record databases.
The environment was also big brother-esque. Every phone call is recorded and employees are often singled out for etiquette, effectiveness, and random review. This keeps employees on their toes, but degrades the morale and overall culture of the group. I do understand the need for metrics as it relates to QA and performance reviews, but the metrics here were so stringent that again, it degraded your attitude and opinion of the company. For example, you have to log a number of phone calls (cold calls and to maintain existing portfolio) per day. These phone calls must be a certain length and quality and vary in purpose... sales deals, rentals, new business, vacant lot inquiries, etc. It can be very tedious trying to extract details on a closed deal from your clients. And you are penalized if they refuse to give you the information, no matter how persuasive you are. That to me, is an immovable KPI that is not entirely within the employee's control.
The pay wasn't too great, in my opinion, although the regular review do allow opportunity for bonuses and increases to base salary.
All in all, although CoStar gives people a chance, they do not invest in their employees. Point blank, the job as a Research Associate is painfully boring.
Advice to Management
Ease up or diversify the KPIs. Cultivate a true researcher and web-based content ownership culture, instead of just counting the numbers. Make it more interesting to the employees for the purpose of client retention (turnover is horrendous).
Don't force your employees to annoy their clients to the point of no return phone calls. You're doing more harm than good to your cause for free information.