by Brianna Crandall — March 4, 2022 — A vast majority of corporate real estate (CRE) professionals received pay increases in 2021, according to a new survey released by nonprofit CRE association CoreNet Global and advisory services firm Ferguson Partners.
A full 79% of participants received an increase in their base salary between 2020 and 2021. Additionally, 73% of participants expect to receive an increase between 2021 and 2022.
And 48% of participants received an increase in their annual incentive (cash bonus) award payout in 2020 (when compared to 2019), with a median increase of 10%. During this same period, 20% of participants saw a decrease — with a median decrease of 20% — while 32% saw no change in their annual incentive award payout.
Looking ahead, most participants anticipate an increase (45%), or no change (46%) in 2021 bonus payouts compared to 2020, and fewer participants are expecting bonus decreases (9%). Of those expecting increases, the median projected increase amount (10%) is projected to be similar to what was reported in 2020 (10%). While fewer participants anticipate decreases for 2021, the median expected decrease (42%) is more than double the actual decrease reported for 2020 (20%).
In addition, 34% of participants received an increase in their long-term incentive award payout in 2020 compared to 2019, with a median increase of 32%. Decreases were less common, reported by only 12% of participants, but were similar in magnitude to increases, with a median decrease of 35%. Looking ahead to 2021, more than half of participants (61%) anticipate long-term incentive awards to remain the same, and 33% expect increases, with a median increase of 23%.
The global survey was conducted in late 2021 and yielded responses from 135 end user members, representing 124 organizations. A vast majority (96%) of participants’ internal CRE organizations currently have operations and/or staff located in the United States, and 72% indicated that their internal CRE organizations currently have operations and/or staff in more than one geographic market, while 34% have operations in all of the markets surveyed (U.S., Europe, Asia, Canada, Latin America and Australia/New Zealand).
Atlanta, Georgia-based CoreNet Global represents nearly 10,000 members in 50 countries with strategic responsibility for the real estate assets of large corporations.
Specializing in Board, executive recruitment, and business advisory services, Ferguson Partners delivers strategic solutions to the real estate, real assets, infrastructure, hospitality and healthcare services sectors, with 11 offices worldwide.