by Brianna Crandall — May 31, 2021 — Total annual compensation for corporate real estate (CRE) professionals globally has steadily increased over the last five years, and the pandemic has most recently redefined the role of determining where and how people work, according to a survey conducted by nonprofit CRE association CoreNet Global and compensation and management consulting provider Ferguson Partners.From 2018 to 2019, annual cash compensation and total cash remuneration saw the biggest jumps in the history of the survey, from $256,000 and $307,000 to $462,900 and $658,969, respectively.
Looking ahead, 38% anticipate further increases in 2020. Of those, respondents predict an increase of 17%.
Austin Morris, managing director, Compensation Consulting, Ferguson Partners, remarked:
While the pandemic necessitated a temporary shift to remote work, many companies are now considering how to permanently expand their virtual workforce. This allows firms to consider a wider range of talent, including those not living near physical office locations.
| YEAR |
Average Total Annual Cash Compensation
|
AVERAGE TOTAL REMUNERATION |
| 2019 | $462,900 | $658,969 |
| 2018 | $256,000 | $307,000 |
| 2017 | $286,000 | $385,000 |
| 2016 | $276,000 | $339,000 |
| 2015 | $280,000 | $315,000 |
Respondents to this year’s survey included 134 professionals (end-users or occupiers of corporate real estate) at 122 large corporations in the U.S., Asia, Europe, Latin America, Canada and Australia/New Zealand.
On average, the companies employed a total of 42,567 people, with an average of 85 working in the corporate real estate department.
Complete survey results are available on the Source App, free to CoreNet Global members.
