CORPORATE REAL ESTATE SALARIES INCREASE

ATLANTA, Feb. 9, 2023 /PRNewswire/ -- Salaries for corporate real estate professionals increased by an average of 6 percent from 2021 to 2022, according to a new survey released by CoreNet Global and Ferguson Partners.

Eighty-six (86%) of participants received an increase in their base salary between 2021 and 2022. Additionally, 76% of participants expect to receive an increase between 2022 and 2023.

According to the survey report, sixty-one percent (61%) of participants received an increase in their annual incentive (cash bonus) award payout in 2021 (when compared to 2020), with a median increase of 15%. During this same period, 9% of participants saw a decrease – with a median decrease of 25% – while 30% saw no change in their annual incentive award payout.

Looking ahead, most participants are equally likely to anticipate either an increase (42%) or no change (44%) in 2022 bonus payouts compared to 2021. Slightly more participants are expecting bonus decreases (14%). Of those expecting increases, the median projected increase amount (7%) is half of what was reported for 2021.

The five most common perquisites as reported by the respondents:

1. Mobile device/Internet
2. Tuition reimbursement
3. Home office expense
4. On-site fitness/Health club membership
5. Subsidized meals/Cafeteria

"Emerging from the pandemic's crisis state, how, when, and where people work is front and center on everyone's minds and that condition elevates the role of corporate real estate," said Angela Cain, CEO of CoreNet Global. "That importance is reflected in increased compensation for corporate real estate professionals, a trend that we have been seeing for several years."

"The macroeconomic environment and higher cost of capital are causing serious headwinds for real estate activity in 2023," said Jarret Sues, Managing Director at Ferguson Partners.  "Expect many firms to play defense, focusing on their existing portfolio and balance sheet, which in turn will put downward pressure on compensation given the potential for a slow down in real estate transactions."

The survey was conducted in the third quarter of 2022; 127 end-user members provided thorough responses, classifying them as participants. These participants represented 116 companies including numerous Fortune 500 companies. Respondents had operations in the U.S., Europe, Asia, Canada, Australia/New Zealand and Latin America.

About CoreNet Global
CoreNet Global is a non-profit association, headquartered in Atlanta, Georgia (US), representing nearly 10,000 members in 50 countries with strategic responsibility for the real estate assets of large corporations. The organization's mission is to advance the practice of corporate real estate through professional development opportunities, publications, research, conferences, designations and networking in 46 local chapters and networking groups globally.

For more information, please visit corenetglobal.org.

About Ferguson Partners

As a global talent management boutique serving all industries and with a strong concentration of real assets, healthcare, hospitality, and private equity clients, Ferguson Partners orchestrates the essential disciplines impacting human capital — Executive and Board Recruitment, Compensation Consulting, Diversity, Equity & Inclusion, Leadership Consulting, and Management Consulting — to deliver trustworthy solutions that help clients capitalize on the advantages of great leadership.

For more information, please visit fergusonpartners.com.

SOURCE CoreNet Global