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 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

$48,050

$50,226

4-6

$51,289

$55,221

7-10

$51,651

$56,078

11-15

$52,128

$57,528

16-20

$67,616

$71,792

21+

$72,735

$77,971

Source: Institute of Real Estate Management
ARM Profile and Compensation Study, 2012 Edition


IREM – CPM MEMEBERS AVERAGE COMPENSATION BY YEARS OF EXPERIENCE

Years of Experience

Salary

Total Compensation

1-9

$81,592

$99,898

10-13

$84,021

$98,146

14-20

$100,013

$113,135

21+

$123,266

$154,052

Source: Institute of Real Estate Management
CPM Profile and Compensation Study, 2012 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 2013 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

$285,600

$227,200

$188,700

50.2%

PORTFOLIO MANAGER

131,000

114,200

92,700

22.1

ASSET MANAGER

126,200

105,900

83,000

19.0

PROPERTY MANAGEMENT

 

TOP PROPERTY MANAGEMENT EXECUTIVE

243,600

189,100

145,100

46.8

REGIONAL PROPERTY MANAGER

157,800

134,500

103,500

23.6

SENIOR PROPERTY MANAGER

115,700

103,000

90,600

14.1

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

115,000

97,400

80,900

12.7

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

94,600

84,200

73,400

11.5

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

85,500

75,800

67,300

9.0

ASSISTANT PROPERTY MANAGER

59,500

54,300

48,600

6.8

 

 

POSITION

BASE SALARY
RANGE (1)

ACTUAL BONUS
AS % OF SALARY (2)

HIGH

MEDIAN

LOW

AVERAGE

RESIDENTIAL POSITIONS

ASSET MANAGEMENT

 

TOP ASSET MANAGEMENT EXECUTIVE

$241,500

$208,000

$154,500

67.2%

PORTFOLIO MANAGER

120,000

105,200

94,000

18.8

SENIOR ASSET MANAGER

122,600

103,500

94,300

28.0

ASSET MANAGER

93,800

80,500

68,600

15.4

PROPERTY MANAGEMENT

 

TOP PROPERTY MANAGEMENT EXECUTIVE

303,000

234,500

176,000

70.4

VICE PRESIDENT PROPERTY MANAGEMENT

195,000

156,400

127,400

28.5

REGIONAL PROPERTY MANAGER

89,000

102,800

116,000

16.8

SENIOR PROPERTY MANAGER

86,200

73,200

62,400

15.3

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

67,000

60,200

53,800

15.3

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

59,600

53,500

46,700

15.2

ASSISTANT PROPERTY MANAGER

42,200

37,000

33,200

11.4

 

 

POSITION

BASE SALARY
RANGE (1

ACTUAL BONUS
AS % OF SALARY (2)

HIGH

MEDIAN

LOW

AVERAGE

RETAIL POSITIONS

ASSET MANAGEMENT

 

TOP ASSET MANAGEMENT EXECUTIVE

$303,500

$225,000

$187,000

56.4%

PORTFOLIO MANAGER

138,000

112,400

95,600

19.9

SENIOR ASSET MANAGER

170,200

139,100

105,000

25.8

ASSET MANAGER

124,500

104,300

82,500

20.6

PROPERTY MANAGEMENT

 

TOP PROPERTY MANAGEMENT EXECUTIVE

230,400

182,500

152,200

42.4

REGIONAL PROPERTY MANAGER

148,500

127,400

102,000

21.4

SENIOR PROPERTY MANAGER

124,600

107,300

90,500

14.3

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

115,000

91,700

75,700

12.7

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

98,300

86,500

72,500

11.5

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

90,400

75,800

59,400

11.1

ASSISTANT PROPERTY MANAGER

64,500

55,900

49,800

7.5

(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 2013.

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

The median annual wage of property, real estate, and community association managers was $52,610 in May 2012. 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 $26,600, and the top 10 percent earned more than $113,400.

In May 2012, the median annual wages in industries employing the largest numbers of property, real estate, and community association managers were as follows:

LOCAL GOVERNMENT, EXCLUDING EDUCATION AND HOSPITALS

$61,320

OFFICES OF REAL ESTATE AGENTS AND BROKERS

53,600

ACTIVITIES RELATED TO REAL ESTATE

50,700

LESSORS OF REAL ESTATE

48,430

CIVIC, SOCIAL, PROFESSIONAL, AND SIMILAR ORGANIZATIONS

43,990