June 9, 2004—New research commissioned by CoreNet Global indicates that the average basic annual salary of European corporate real estate professionals is slightly higher than their US colleagues.
However, when full benefits packages are taken into account, earnings total much the same.
European Union professionals earn on average $122,074 (66,467.38) basic salary compared to their US counterparts who earn $110,593, (60,248.96) but when full compensation is factored in, they earn a similar average of $160,252 (87,302.24) and $162,821 (88,701.78) respectively. Annual compensation figures are calculated to incorporate basic salary, bonus and performance incentives, commissions and flat fees.
The research analyzed the compensation packages of over 1,200 private sector corporate real estate professionals from the European Union, United States, Canada and Asia-Pacific (including Australia and India). 52% of the respondents were corporate real estate end users, with the remainder being service providers. The research also indicates that the sector demonstrates a stable professional base, with respondents reporting an average tenure of 14 years employed within the corporate real estate industry.
With regard to professional development, US employers are more disposed to reimburse executives taking educational programmes than their EU counterparts, with 62% of US respondents claiming reimbursement compared to only 39% of Global respondents.
To access the full report, contact CoreNet.
