The wallets of corporate real estate executives continued to grow from 2014 to 2015, and those leaders say they expect more of the same this year. In a recent study conducted by CoreNet Global and FPL Associates, 83 percent of real estate executives at large corporations across the globe saw their base salary increase. Of that number, 80 percent expect further increases in 2016.
Globally, the average total annual cash compensation for a corporate real estate head averaged $265,684 in 2015. Compared to $231,197 in 2015, that’s an increase of almost 15 percent.
Of the North American participants in the study, 84 percent saw an increase in their base salary in 2015 and 82 percent expect another increase in 2016. Of respondents in Asia, 71 percent saw an increase in 2015 and 71 percent expect an increase in 2016. In Europe, 90 percent saw an increase and 90 percent expect another increase in 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.”
Study participants also reported receiving a range of job perks. On average, participants received the most amount of money for automobile allowances and tuition reimbursement.
CoreNet Global is the world’s leading professional association for corporate real estate (CRE) and workplace executives, service providers and economic developers. For more information on happenings with the local Kansas City chapter, click here.