Compensation

The real estate industry attracts individuals with entrepreneurial attitudes who view challenges as opportunities and hard work as a requisite for advancement and success. The ever-changing nature of the real estate industry has and continues to create employment and career possibilities for those committed to continuous improvement, performance excellence, and the highest quality and level of service to customers. Individuals entering or advancing within the real estate industry have more and a wider range of job prospects than ever before.

Cash compensation (the combined annual base salary and incentive bonus) for those entering the business is contingent upon several factors including, but not limited to:

  • Geographic location
  • Experience
  • Educational level
  • Achievement of one or more professional credentials
  • The position and primary job responsibilities
  • The industry sector and employer

In addition to base salary and the potential for an annual incentive bonus, real estate management professionals often have access to a wide range of other benefits. These may include:

  • Participation in equity ownership of real estate or company ownership
  • Housing allowance (occasionally provided to on-site multifamily property managers)
  • Health care benefits
  • Participation in professional associations
  • Pension and 401(k) plans
  • Flextime

Compensation Data

There are several sources of compensation data for the real estate management industry.
Three of these sources are:

IREM ARM and CPM Profile and Compensation Study
IREM, which performs profile and compensation studies of its members every three years.

IREM – ARM MEMEBERS AVERAGE
COMPENSATION BY YEARS OF EXPERIENCE


Years of Experience

Salary

Total Compensation

1-3

$36,804

$42,693

4-6

43,513

49,621

7-10

50,202

57,700

11-15

54,636

60,287

16-20

63,325

69,202

21+

65,313

72,374

Source: Institute of Real Estate Management
ARM Profile and Compensation Study, 2010 Edition

 

IREM – CPM MEMEBERS AVERAGE COMPENSATION BY YEARS OF EXPERIENCE

Years of Experience

Salary

Total Compensation

1-9

$71,145

$79,429

10-13

83,853

93,228

14-20

99,906

110,087

21+

120,781

142,896

Source: Institute of Real Estate Management
CPM Profile and Compensation Study, 2010 Edition

 

CEL & Associated Real Estate Compensation Survey
CEL & Associates, Inc. provides consulting services to the real estate industry.  CEL & Associates created its first National Real Estate Compensation and Benefits Survey in 1989 and has been regularly conducting the survey ever since.

CEL & ASSOCIATES 2011 REAL ESTATE COMPENSATION SURVEY
ALL COMPANIES – CONSOLIDATED RESULTS

 

POSITION

BASE SALARY
RANGE (1)

ACTUAL BONUS
AS % OF SALARY (2)

HIGH

MEDIAN

LOW

AVERAGE

OFFICE/INDUSTRIAL POSITIONS

ASSET MANAGEMENT

 

TOP ASSET MANAGEMENT EXECUTIVE

$245,000

$203,600

$173,800

42.4%

PORTFOLIO MANAGER

111,400

104,900

82,900

14.8

ASSET MANAGER

115,400

87,100

77,300

20.2

PROPERTY MANAGEMENT

 

TOP PROPERTY MANAGEMENT EXECUTIVE

208,500

175,000

135,300

41.7

REGIONAL PROPERTY MANAGER

142,000

115,000

95,000

20.0

SENIOR PROPERTY MANAGER

107,000

95,000

83,200

13.0

PROPERTY MANAGER II (250,000-500,000 sq. ft.)

78,000

69,000

59,800

8.0

PROPERTY MANAGER III (500,001-1,000,000 sq. ft.)

87,400

76,700

64,900

10.0

PROPERTY MANAGER IV (>1,000,000 sq. ft.)

104,000

77,000

63,500

11.7

ASSISTANT PROPERTY MANAGER

54,800

49,200

43,900

6.7

SENIOR FACILITY MANAGER

101,300

88,000

74,300

10.9

SECURITY MANAGER

67,800

62,800

52,200

14.5

OPERATIONS MANAGER

89,200

80,300

70,500

9.6

REGIONAL/PORTFOLIO MAINTENANCE ENGINEER

99,100

88,300

78,200

10.0

MAINTENANCE SUPERVISOR

75,000

65,200

54,100

6.0

MAINTENANCE ENGINEER/TECHNICIAN II

50,800

45,300

40,100

5.1

 

 

POSITION

BASE SALARY
RANGE (1)

ACTUAL BONUS
AS % OF SALARY (2)

HIGH

MEDIAN

LOW

AVERAGE

RESIDENTIAL POSITIONS

ASSET MANAGEMENT

 

TOP ASSET MANAGEMENT EXECUTIVE

$225,000

$192,000

$143,500

62.6%

PORTFOLIO MANAGER

112,300

100,700

85,000

16.8

SENIOR ASSET MANAGER

113,800

97,500

85,500

14.5

ASSET MANAGER

86,900

78,300

64,900

15.0

PROPERTY MANAGEMENT

 

TOP PROPERTY MANAGEMENT EXECUTIVE

277,900

215,000

158,500

59.6

VICE PRESIDENT PROPERTY MANAGEMENT

163,800

137,400

114,700

27.3

REGIONAL PROPERTY MANAGER

98,000

87,200

78,400

13.5

SENIOR PROPERTY MANAGER

77,800

65,000

55,000

13.4

ON-SITE COMMUNITY MGR. II (150-300 units)

52,700

47,700

41,000

14.6

ON-SITE COMMUNITY MGR.  III (301-450 units)

60,400

54,300

48,300

14.7

ASSISTANT PROPERTY MANAGER

38,500

34,400

30,300

13.4

MAINTENANCE SUPERVISOR

51,300

44,200

38,400

7.1

MAINTENANCE ENGINEER/TECHNICIAN I

33,400

30,600

28,300

4.5

 

 

POSITION

BASE SALARY
RANGE (1)

ACTUAL BONUS
AS % OF SALARY (2)

HIGH

MEDIAN

LOW

AVERAGE

RETAIL POSITIONS

ASSET MANAGEMENT

 

TOP ASSET MANAGEMENT EXECUTIVE

$279,900

$214,000

$176,200

47.3%

PORTFOLIO MANAGER

116,100

103,800

87,500

12.6

SENIOR ASSET MANAGER

153,100

122,800

95,300

21.1

ASSET MANAGER

115,400

92,200

79,700

20.6

PROPERTY MANAGEMENT

 

TOP PROPERTY MANAGEMENT EXECUTIVE

209,000

169,600

138,800

38.0

REGIONAL PROPERTY MANAGER

135,100

117,500

94,700

20.5

SENIOR PROPERTY MANAGER

112,400

99,100

86,400

13.7

PROPERTY MANAGER I (<150,000 sq. ft.)

82,800

69,300

57,200

9.8

PROPERTY MANAGER III (301,000-500,000 sq. ft.)

88,700

70,300

55,200

11.0

PROPERTY MANAGER IV (>500,000 sq. ft.)

99,300

81,500

61,500

12.9

ASSISTANT PROPERTY MANAGER

56,100

50,800

45,100

7.8

REGIONAL/PORTFOLIO MAINTENANCE ENGINEER

105,500

95,200

84,000

10.3

MAINTENANCE SUPERVISOR

78,900

68,000

53,900

6.1

MAINTENANCE ENGINEER/TECHNICIAN I

42,800

37,400

34,200

4.4

(1) High = 75th percentile, Median = 50th percentile. Low = 25th percentile
(2) CEL & Associates, Inc. has intentionally excluded salary and/or extraordinary annual bonus awards from this table in order to not distort the results.

Source: CEL & Associates, Inc./CEL Compensation Advisors, LLC. Survey completed 2Q 2011.

  
U.S. Department of Labor, Occupational Outlook Handbook, 2012-2013

The median annual wage of property, real estate, and community association managers was $51,480 in May 2010. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $26,180, and the top 10 percent earned more than $111,320.

In May 2010, the median annual wages in industries employing the largest numbers of property, real estate, and community association managers were as follows:

LOCAL GOVERNMENT

$58,670

OFFICES OF REAL ESTAET AGENTS AND BROKERS

51,330

ACTIVITIES REALTATED TO REAL ESTATE

51,050

BUSINESS, PROFESSIONAL, LABOR, POLITICAL, AND SIMILAR ORGANIZATIONS

48,040

LESSORS OF REAL ESTATE

44,790