SUSTAINABILITY REPORT Celebrating BOMA Bay Area 2013 EARTH Award winners and the companies and organizations that support them (begins after page 4).
Commercial Real Estate Salaries Rising
Spring 2013
Good Pay and Benefits Will Attract Industry Newcomers There has been an upward trend to $94,200, with bonuses of 9.6% in CRE compensation in recent years, to 11.9%. Those figures would be according to CEL & Associates Inc.’s inflated by 25% for East Bay execulatest National Real Estate tives, applying Robert Half’s survey. Compensation Survey. Many “Based upon the expected surge commercial properof Baby Boomer ty and facility retirees, once their managers throughretirement future is out the Bay Area secure, a potential are earning the sort shortage of 15,000 of salaries and to 25,000 ‘qualified’ bonuses that should workers per year will also attract career be created within the newcomers to real estate industry,” replace retiring CEL’s CEO Chris Lee Baby Boomers. said in an interview. For example, “Today it is estimated the median base that 80%– 90% of CRE professionals are climbing to salary for a top graduating students positions with higher salaries. property managein robust college real ment executive, nationwide, was estate programs receive a job offer.” $184,400, with an annual bonus of This favorable compensation 44.5%. San Francisco Bay Area manreport is good news for those considagers and executives might expect ering a career in commercial real even more, since a Robert Half surestate. “There are incredible opportuvey shows that employees in the San nities for young people who are Francisco metropolitan area average qualified,” said Lee. He emphasized earning 35.5% more than the nationthat entry-level staffers with some al average. education in commercial real estate At the lower end of the scale, an are preferred. Lee pointed out that as assistant property manager’s median Baby Boomers retire, sometimes income was $52,800, with an average suddenly, companies in the industry bonus of 7%, according to CEL— will need knowledgeable people to fill and the likelihood of a 35.5% bump their positions. one might expect in the higher-paying For more details on CEL surveys Bay Area. visit, www.celassociates.com. To Property managers of buildings find out what the BOMA San from 250,00 sq. ft. to 1,000,000 sq. Francisco Foundation is doing to ft. nationwide earned median-level prepare the next generation, visit salaries that ranged from $72,200 www.bomasf.org.