The Business

Like many businesses, architects are getting slammed by the economy. I know of a few major Los Angeles firms that may close their doors. All because the banks will not loan money to our developer clients.

I had lunch with a friend who owns a small firm. He had to cut everyone's pay by 20% and is making payroll using a line of credit. He is not alone. We basically laughed about the whole thing because we have been in the profession long enough to know it will come back.

If some firms go under, and the old man decides to either retire or maintain a smaller office, is that so bad? The principals under him, who really run the show, will start their own firms when things improve and take the clients with them. A number of these people I know, and would be happy to work with and get into an office at the start.

There is still a housing shortage in Los Angeles, and there is plenty of work out there, so it is just a matter of time. Otherwise, the only projects being built are healthcare and work in Dubai, neither of which I find appealing.

Every time economic crisis hits architects, the profession changes. And usually for the best. For example, in the 90's recession many in college, majoring in architecture, saw the lack of work and low pay and went into Silicon Valley jobs instead. Also, many architects switched professions (it weeded out the weak). When things picked up, there was a shortage of architects, and those of us who suffered and stuck with it were able to finally make decent money, as we were in demand. Will be interesting to see what happens, and hopefully it will happen soon.

When the going gets weird, the weird turn pro.
HST