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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 –AVERAGE COMPENSATION OF ARM MEMBERS BY YEARS OF EXPERIENCE

Years of Experience

Salary

Total Compensation

1-3

$46,934

$52,095

4-6

$45,989

$50,894

7-10

$53,957

$60,785

11-15

$61,397

$69,147

16-20

$58,575

$67,694

21+

$72,318

$84,539

Source: Institute of Real Estate Management
ARM Profile and Compensation Study, 2016 Edition


IREM – AVERAGE COMPENSATION OF CPM MEMBERS BY YEARS OF EXPERIENCE

Years of Experience

Salary

Total Compensation

Less than 10

$81,609

$94,472

10-14

$93,569

$113,189

15-19

$95,319

$115,232

20–24

$109,201

$138,587

25 +

$127,862

$175,549

Source: Institute of Real Estate Management
CPM Profile and Compensation Study, 2016 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 2016 REAL ESTATE COMPENSATION SURVEY
ALL COMPANIES – CONSOLIDATED RESULTS

 

POSITION

BASE SALARY
RANGE (1)

ACTUAL BONUS
AS % OF SALARY

LOW

MEDIAN

HIGH

AVERAGE

OFFICE/INDUSTRIAL POSITIONS

ASSET MANAGEMENT

 

TOP ASSET MANAGEMENT EXECUTIVE

$203,600

$245,800

$317,200

53.7%

SENIOR ASSET MANAGEMENT EXECUTIVE

$155,300

$181,000

$228,400

34.2%

PORTFOLIO MANAGER

$99,300

$124,000

$144,400

24.1%

SENIOR ASSET MANAGER

$108,100

$148,000

$173,300

25.8%

ASSET MANAGER

$89,400

$114,400

$140,100

21.7%

PROPERTY MANAGEMENT

 

TOP PROPERTY MANAGEMENT EXECUTIVE

$156,000

$204,300

$266,300

49.4%

VICE PRESIDENT PROPERTY MANAGEMENT

$140,800

$174,000

$221,300

24.8%

REGIONAL PROPERTY MANAGER

$109,600

$144,200

$172,700

25.6%

SENIOR PROPERTY MANAGER

$96,600

$110,900

$127,400

16.1%

PROPERTY MANAGER I (<250,000 sq.ft.)

$63,400

$80,500

$93,500

11.1%

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

$71,100

$81,400

$93,500

9.8%

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

$79,300

$90,600

$103,300

12.3%

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

$86,700

$104,900

$126,300

13.4%

ASSISTANT PROPERTY MANAGER

$52,600

$58,500

$65,100

7.7%

 

 

POSITION

BASE SALARY
RANGE (1)

ACTUAL BONUS
AS % OF SALARY

LOW

MEDIAN

HIGH

AVERAGE

RESIDENTIAL POSITIONS

ASSET MANAGEMENT

 

TOP ASSET MANAGEMENT EXECUTIVE

$165,800

$226,200

$267,800

75.0%

SENIOR ASSET MANAGER EXECUTIVE

$134,600

$157,000

$225,700

35.3%

PORTFOLIO MANAGER

$100,300

$113,600

$131,300

22.0%

SENIOR ASSET MANAGER

$102,000

$111,500

$135,700

25.4%

ASSET MANAGER

$73,900

$87,400

$103,500

17.4%

PROPERTY MANAGEMENT

 

TOP PROPERTY MANAGEMENT EXECUTIVE

$189,900

$255,300

$331,800

73.8%

VICE PRESIDENT PROPERTY MANAGEMENT

$136,600

$170,500

$215,000

30.3%

REGIONAL PROPERTY MANAGER

$94,200

$111,100

$128,400

18.6%

SENIOR PROPERTY MANAGER

$68,000

$79,400

$95,300

17.1%

ON-SITE COMMUNITY MGR. I (<150 units)

$40,100

$47,000

$53,900

14.8%

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

$50,100

$58,100

$65,600

16.0%

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

$57,700

$66,100

$73,200

16.2%

ON-SITE COMMUNITY MGR. IV (>450 units)

$66,700

$72,300

$83,900

17.4%

ASSISTANT PROPERTY MANAGER

$35,500

$40,100

$46,500

12.6%

 

 

POSITION

BASE SALARY
RANGE (1)

ACTUAL BONUS
AS % OF SALARY

LOW

MEDIAN

HIGH

AVERAGE

RETAIL POSITIONS

ASSET MANAGEMENT

 

TOP ASSET MANAGEMENT EXECUTIVE

$201,400

$245,900

$335,600

60.1%

SENIOR ASSET MANAGEMENT EXECUTIVE

$162,500

$222,000

$273,700

51.9%

PORTFOLIO MANAGER

$100,700

$122,700

$151,800

21.7%

SENIOR ASSET MANAGER

$115,200

$150,700

$186,700

25.5%

ASSET MANAGER

$89,800

$112,700

$136,500

22.2%

PROPERTY MANAGEMENT

 

TOP PROPERTY MANAGEMENT EXECUTIVE

$162,700

$200,000

$250,300

44.6%

VICE PRESIDENT PROPERTY MANAGEMENT

$138,000

$178,400

$208,600

34.7%

REGIONAL PROPERTY MANAGER

$110,100

$136,100

$163,400

22.7%

SENIOR PROPERTY MANAGER

$97,500

$117,000

$136,800

16.5%

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

$65,300

$82,300

$99,500

13.3%

PROPERTY MANAGER II (150,000-300,000 sq.ft.)

$73,100

$84,300

$98,300

10.5%

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

$78,200

$95,000

$108,000

13.3%

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

$80,300

$99,600

$126,200

13.9%

ASSISTANT PROPERTY MANAGER

$53,900

$60,900

$70,500

9.7%

(1) High = 75th percentile, Median = 50th percentile, Low = 25th percentile.

Source: CEL & Associates, Inc./CEL Compensation Advisors, LLC. Survey completed 2Q 2016.

  
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2016-2017 Edition

The median annual wage for property, real estate, and community association managers was $55,380 in May 2015. 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 $28,490, and the top 10 percent earned more than $123,790.

In May 2015, the median annual wages in industries employing the largest numbers of property, real estate, and community association managers were as follows:

OFFICES OF REAL ESTATE AGENTS AND BROKERS

$55,150

ACTIVITIES RELATED TO REAL ESTATE

$52,930

CIVIC, SOCIAL, PROFESSIONAL, AND SIMILAR ORGANIZATIONS

$52,730

LESSORS OF REAL ESTATE

$51,800