Figure 2
Change in profiles of REIT CFOs from FY 2009 to FY 2010 Category Average market cap (in billions)
FY 2009 Accounting Capital Markets
FY 2010 Accounting Captial Markets
$1.48
$2.37
$2.62
$2.98
49.6
48.3
50.0
47.5
7.8
5.3
7.9
4.7
90% male
91.7% male
89.9% male
86.1% male
37.0%
55.6%
37.8%
62.8%
Cash compensation
$638,396
$786,264
$692,400
$822,500
Long-term incentive compensation
$252,818
$468,831
$398,500
$681,000
6.4%
19.4%
5.1%
7.0%
CPA
82.0%
25.0%
84.0%
30.9%
MBA
19.1%
58.3%
20.2%
57.1%
Big Four experience
65.5%
22.2%
64.2%
21.4%
93
36
98
43
Average age Average tenure of CFO (in years) Gender External hires
On board
Number of profiles*
*Profiles identified as mixed backgrounds were omitted from the study. Any REIT IPOs during 2009 are accounted for in 2010. One company de-listed in FY2010 and was omitted as well. Source: Steven Hall & Partners
5