January 11, 2010—Just over half of corporate real estate professionals expect a rise in their base salary in 2010, according to a report commissioned by CoreNet Global. The survey found 52 percent are looking forward to increased salaries, up from 48 percent who were expecting an increase at the beginning of 2009.
The 2009 CoreNet Global Compensation Survey shows that 47 percent of participants experienced no change in their salary between 2008 and 2009. Those who did benefit from an increase received only between 2.1 and 4 percent more. This trend is expected to continue in 2010, with 44 percent expecting no change in their salary.
The research also revealed that 47 percent of those surveyed felt that their company’s performance was the largest determinant of award. Just over 30 percent believed that an individual’s performance was the largest determinant.
Excluding workplace service, the total remuneration of CRE professionals indicates little disparity in the pay of senior and mid-level professionals across differing functions, the survey report suggested.
However, heads of function in construction and asset management are better paid than their counterparts in other business areas. Construction heads take home on average 146,078 and an asset management head receives around 136,160 a year.
The survey, done in conjunction with FPL Associates LP, a provider of compensation and management consulting advisory services, surveyed more than 160 global organizations and was based on around 287 responses from corporate occupiers.
