Where managers live makes a lot of difference in how much they are paid, the survey revealed. Those who managed 300- to 500-unit properties in Jackson, MS earned $33,800; people doing the same work in San Francisco took home $54,800. But, if you are a leasing consultant it doesn't seem to matter where you live. They were paid $25,600 on average whether they lived in Providence, RI or Los Angeles.
Going forward, the compensation outlook for real estate professionals seems less rewarding. Average executive pay increases are projected to fall from 7% last year to 5.5% in 2000 and then to 5.1% the year after. These declines come at a time of an average employee turnover rate of 50% during 1999, $35% of which was voluntary.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.