3 February 2012
An overwhelming majority – 83 per cent – of corporate real estate managers saw increases in their base salary in 2011, according to a new global compensation study.
This compares to a year earlier when 64 per cent reported an increase in base salary in 2010.
Additionally, 81 per cent of participants expect to receive an increase between calendar or fiscal year 2011 and 2012, noted the survey conducted by CoreNet Global and FPL Associates, a compensation package consultancy.
Corporate real estate executives picked up an average increase of 5 per cent in base salary in 2011.
Between 2011 and 2012, more than three-quarters expect to receive an increase in their base salary. The average increase is expected to be 4 per cent in 2012.
Average base salary for a head of corporate real estate in the US was the equivalent of £113,000, versus almost £117,300 in Europe. For a regional head of real estate in the US it was £99,200 whereas in Europe it was nearly £86,500.
A senior level asset manager in the US had an average base salary of £82,000 His European counterpart took home £91,550.
A US mid-level asset manager was paid £72,800 as against nearly £62,500 for one in Europe.
A head of facilities in the US took home nearly nearly £83,900.
In the US, the head of workplace services or space planning pulled down £105,000. Their subordinate was paid the equivalent of £74,000.
“The growth in compensation correlates to greater levels of investment and development activity among corporate real estate departments,” the survey said.
“From 2010 to 2011, 50 per cent of the respondents reported increases in acquisition activity, compared to 43 per cent a year earlier (2009 to 2010). Also, from 2010 to 2011, 36 per cent reported increases in development activity, compared to 32 per cent a year earlier (2009 to 2010).
The survey is based on responses from 288 businesses and organisations, many of them major international firms including Adidas Group, Bank of America, Jones Lang LaSalle, Goodyear, Thomson Reuters, Royal Dutch Shell and Honeywell.
The average number of employees in the companies represented in the survey, conducted in the third quarter 2011, was 50,306 and the average number of employees involved in internal corporate real estate was 137.
Other news for Friday, 3 February 2012
Servest bullish over acquisitions
Property managers see 5 per cent salary boost
Keepmoat clears the decks for merger
OCS moves into the fast lane
Contracts round-up
FM World launches 2012 Salary Survey
FM World Blog: One is such a lonely number
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