An overwhelming majority - 83% - of professionals who manage corporate real estate portfolios saw increases in their base salary in 2011, according to a global compensation study conducted by CoreNet Global and FPL Associates. This compares to a year earlier when 64% reported an increase in base salary in 2010.
An overwhelming majority - 83% - of professionals who manage corporate real estate portfolios saw increases in their base salary in 2011, according to a global compensation study conducted by CoreNet Global and FPL Associates. This compares to a year earlier when 64% reported an increase in base salary in 2010.
For 2012, 81% of the respondents expect to receive increases, with the average increase put at 4%.
The growth in compensation reflects higher levels of investment and development activity among corporate real estate departments, CoreNet said. From 2010 to 2011, 50% of the respondents reported increases in acquisition activity, compared to 43% a year earlier (2009-2010). And, from 2010 -2011, 36% reported increases in development activity, compared to 32% a year earlier (2009-2010).
Also in 2010, the percentage of survey participants that received a larger cash bonus than in 2009 more than doubled compared to those that received a decreased payout over the same time period.
'After several years of tracking this information, we do see a clear upward trend in across the board compensation for those who manage corporate real estate globally,' said Angela Cain, CEO of CoreNet Global. 'As the survey points out, these increases follow gains in activity as corporations enhance and consolidate their real estate portfolios.'
CoreNet Global is the association for professionals who manage property portfolios owned by companies, as well as service providers for the sector. The association has 7,000 members, who include 70% of the Fortune 100 and nearly half of the Forbes Global 2000.
