An overwhelming majority of managers of corporate real estate (CRE) portfolios saw increases in their base salary in 2012 and expect the same again this year.
An overwhelming majority of managers of corporate real estate (CRE) portfolios saw increases in their base salary in 2012 and expect the same again this year.
Some 79% of CRE managers saw their base salary increase in 2012 compared to 66% two years ago. A similar figure - or 78% - anticipate receiving increases again in 2013, according to a global compensation study conducted by CoreNet Global and FPL Associates
Globally, corporate real estate executives realised an average increase of 4% in their base salary in 2012. The average salary for a head of corporate real estate was $192,207 (€143,590) with average total annual compensation of $230,996.
'As we have seen in the years of researching CRE compensation, growth in compensation correlates to greater levels of investment and development activity among corporate real estate departments globally,' said Angela Cain, CEO of CoreNet Global. 'As the survey demonstrates, the industry has been stable - if not grown - over the last year, and we are optimistic about the industry continuing to recover in 2013.'
