CHICAGO-According to the real estate consultant firm Christenson Advisors, based here, lenders’ salaries, recruiting activity and deals in general increased in 2011 when compared to the year prior. Annual total compensation for lender company CEOs, for example, was about $3.2 million for a firm with more than $2 billion in assets under management, with CEOs at smaller companies averaging about a third of that salary.

Kevin Christenson, founder and managing principal, tells GlobeSt.com that the increase is directly tied to the increase in transaction activity. “When you look at the commercial real estate industry in general, 2011 was a better year, things are improving,” he says. “But the world is still delicate, we’re hoping things won’t turn out like last year. As long as there’s no hiccups like the financial crisis dropping again in Europe, the improving sentiment should spread across the industry for 2012.”

About 75 of the top commercial lending companies were surveyed, he says. The companies included public and private national companies and CRE lending groups that provide first mortgage loans, bridge loans, preferred equity, joint venture equity, mezzanine financing, senior debt and B-notes, and other lending products. Nearly two-thirds of those surveyed classified themselves as CRE lenders, while the rest classified themselves as an investment manager with a debt focus. Most of the respondents said they expect salaries will continue to escalate this year because of the solid growth in the markets.