There are newer employer reviews for CoStar Group
There are newer employer reviews for CoStar Group

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Helpful (6)

Huge growth, great company, better if you are in Sales

  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Inside Sales in Washington, DC
Current Employee - Inside Sales in Washington, DC
Recommends
Positive Outlook
Approves of CEO

I have been working at CoStar Group full-time (More than a year)

Pros

Good pay and benefits, lots of vacation, new office, high end equiptment

Cons

Constant change in expectations, very tall org chart, disconnect between management and employees

Advice to Management

I've been at CoStar for over 2 year, in sales. CoStar will hire inside sales people with little experience but huge potential. Outside sales requires more experience. Sales doesn't have nearly the turnover as research. In inside sales, I made about 58k my first year, and about 92k my 2nd year. Top sales people can do $200k+ after about 3-5 years. 60-70% of CoStar employees are researchers generally hired out of college. Researchers make phone calls all day and do data entry. It's great experience but the business model is not built to retain researchers. CoStar will always hire recent grads because there's an abundance and they are cheap labor. Remember the company's goal is to have the highest profit margin and that's why the stock is so valuable. My advice if you are a recent grad is get a job in research, do it for a year, make connections in sales, and switch departments. Some of our top salespeople started in research. My advice to management, is to give cost of living increases each year. The only way you get a bump in salary is if you get promoted. We escalate our clients' contracts by CPI (inflation) every year which averages about 3%. Why not pass that along to the employees? As a stock holder, I've seen CoStar's stock go from about $50 a share in 2011 to about $180 a share today. I've been very happy with the company's performance. The business model is genius to the credit of founder and CEO, Andy Florance. Although he doesn't have a strong approval from former employees, look past that. He's a visionary that built a business out of his basement that is practically impossible to duplicate. We have a 94% client renewal rate and we continue to grow at alarming rates and acquire companies. Being a cash rich business, with very few assets, and very predictable income stream, puts CoStar in a position for exponential growth with great opportunities for hardworking employees.

Other Employee Reviews for CoStar Group

  1. Helpful (6)

    Toxic culture. CEO'S way or no way. Company is managed almost entirely by leveraging fear.

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Sales in New York, NY
    Current Employee - Sales in New York, NY
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I have been working at CoStar Group full-time (More than a year)

    Pros

    Decent benefits, perks and office-space

    Cons

    Employees and managed by unrealistic metrics. They know any day they can be let go regardless of past performance

    Advice to Management

    Trust your people. Make them feel like they have a voice.


  2. Helpful (12)

    Bizarrely Bad Environment

    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Former Employee - Anonymous Employee in Washington, DC
    Former Employee - Anonymous Employee in Washington, DC
    Doesn't Recommend
    Positive Outlook
    Disapproves of CEO

    I worked at CoStar Group full-time

    Pros

    The health benefits are really strong, the building is nice, the business model is amazing and the possibilities for company growth are impressive. There are also a lot of seriously talented people working there. It’s too bad the company will never get the best out of those people because of the environment they’re subject to.

    Cons

    Since I was not in Research, I originally assumed the dreadful treatment so many people wrote about being subject to at the company would not happen to me. Now I know people in all departments and at all levels, including his direct reports, have varying degrees of fear of the CEO. It is well-known that the VPs who manage to survive do so by going along with everything Andy Florance says, deducing what he will be expecting them to claim to believe, looking the other way when he flies off the handle to publicly accuse them or one of their people of being everything from morons to Marxists, and running back to instruct their departments to drop what they were doing to meet his latest demands. Andy seems to love ranting about the “idiocy” of specific employees – both with them in the room and behind their backs. He also revels in telling people they’re fired, and then taking it back, which is not funny considering the number of people who have been fired on a whim because it’s Andy’s company and everyone is replaceable, especially if they are older than 25 and not blond. Andy also enjoys calling on people to answer random questions and then making fun of them and telling them they are stupid for giving the "wrong" answer. The nervous laughter and averted gazes that surround Andy when he’s in these moods are painful to experience. The other issue is the lack of respect the company overall has for the efforts of its people. This is especially true of salaried employees, who have to burn 3 hours of PTO to attend the occasional doctor’s appointment even though they regularly work 12+ hours/day. The joke is that CoStar’s idea of work-life balance is that they bring in free yoga a couple times a week so you can practice improving your balance for an hour and then get back to work.

    Advice to Management

    Get Andy an anger management coach and hire VPs who are willing to push back on him for the betterment of the company.


There are newer employer reviews for CoStar Group
There are newer employer reviews for CoStar Group

See Most Recent

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