Alumni Spotlight: Ray Wong
Ray Wong is the vice president of data operations for the Data Solutions Team at Altus Group. He graduated from the Bachelor of Urban and Regional Planning program in 1989.
How have you passed your time professionally since graduating?
I work in the field of commercial real estate. I’ve only worked with three companies since graduating. I started with Royal Lepage Commercial in 1989 and I was there until 2000. Then I worked with CBRE. Most recently, since 2017, I’ve been working with Altus Group. In each of these three firms, my work has been largely on the research side. So, that includes the collection of market statistics and analysis, as well as forecasting vacancy rates and rental rates. It also involves working with various clients, such as pension funds and institutions, with regards to market trends and analysis.
After graduating, it’s all about getting started and getting your foot in the door. I’ve been quite fortunate to work for firms that were progressive with regards to research. With each of the firms, I could spend more time on understanding the statistics, understanding how the stats impact people’s decisions with regards to acquisitions and dispositions, and what type of risks, tolerance levels or opportunities exist for our clients.
I co-developed the first office industrial real estate forecast for Canadian markets. I think that’s one of my biggest accomplishments.
How do you think your time at Ryerson influenced your career?
My background in urban planning helped me because I tend to ask a lot of questions. I like to look at what the numbers mean, not just what they indicate. It was also a very good basis for me to understand how to research materials.
The statistics course allowed me to understand market trends and analysis. Again, it’s not what the vacancy rate is, but what it means. It taught me to ask other questions, and, not just get the one result, but look at other supporting trends or different data sources. So, in essence, it’s given me a really good background for how to look at research, how to interpret research, and then how to apply research, especially when providing recommendations and advice to our clients.
What was great about the urban planning program is how practical it was, particularly the field trips. I was on the field trip that went to Havana, Cuba. I saw how that city was developed and how changes were made there. I also went to Milwaukee. The trips are what allow you to see different aspects of different planning regimes. I remember on the Cuba field trip, they had to load the plane in sections so it wouldn’t tip over. The plane wasn’t stable, but the chance to go out there and see how Cubans look at planning, especially how Cuba developed under a socialist government, was cool.
The school’s involvement with various projects with municipalities and private developers gave practical use to what was being taught in class, and the chance to apply it in the real world. I thought those aspects were key. It wasn’t just a textbook and it wasn’t just a lecture, but being able to apply the skills that were being taught. I thought that was great and it also helped me when I started working, because you have that experience and that exposure.
How do you think the field of planning has changed since you graduated?
I think it’s a lot smarter. I think that applies not just to the real estate sector, but all sectors. There is a lot more information out there. And it’s easier to get at the information and interpret the information a lot more quickly, especially compared to spreadsheets and calculators and the things that we used to use to analyze the marketplace.
Do you have any other advice you would share with the new generation of Ryerson planning students?
Treasure the time you’re in school and the contacts that you develop there. I’m still close with a few of the people in the program. It’s good to have a network of people. I found that the group work was fantastic for that. Make sure that you leverage the contacts that you have within the program, as well as from the studio projects that you’re assigned. You never know when you’ll be able to use them. It’s all about developing those contacts and using that as your base, especially when you’re starting your career.