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In a recent survey of corporate real estate executives at large corporations globally, 83 percent reported that their base salary increased from 2014 to 2015, and 80 percent projected further increases in 2016, according to a survey conducted by CoreNet Global and FPL Associates.
The average total annual cash compensation for a head of corporate real estate globally was $265,684 in 2015 compared to $231,197 in 2014, an increase of nearly 15 percent.
Regionally, of the participants that work in North America, 84 percent saw an increase in base salary from 2014 to 2015 and 82 percent expect an increase in base salary from 2015 to 2016.
Of the participants that work in Asia, 71 percent saw an increase in base salary from 2014 to 2015 and 71 percent expect an increase in base salary from 2015 to 2016. And of the participants that work in Europe 90 percent saw an increase in base salary from 2014 to 2015 and 90 percent expect an increase in base salary from 2015 to 2016.
“The continually rising salaries in corporate real estate are driven by a recognition of the profession as key to overall corporate performance,” said Angela Cain, CEO of CoreNet Global. “As corporate real estate evolves, more people are seeing it as the well-defined profession that it is, as well as a financially rewarding career option.”
In the survey, which ranks numerous positions in addition to head of corporate real estate, 48 percent of the respondents received an increase in annual incentives/bonuses in 2014 compared to 2013, and 41 percent projected an increase for 2015 compared to 2014. The projected average increase in annual incentives for 2015 is 12 percent.
Long-term incentive compensation also increased for many of the respondents. Increases in long term incentives in 2014 were reported by 41 percent, compared to 2013, and 26 percent projected an increase in 2015 from 2014.
Participants reported receiving an assortment of “perks.” On average, participants received the most amount of money for automobile allowances and tuition reimbursement.
This Quick Read was provided by CoreNet Global. For a survey focused entirely on the facilities management market in the United States, check out Building Operating Management's FM Pulse survey and article at http://www.facilitiesnet.com/16183BOM