A vast majority of corporate real estate professionals received pay increases in 2021, according to a new survey released by CoreNet Global and Ferguson Partners.
Seventy-nine percent (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.
Forty-eight percent (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%).
Thirty-four percent (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. Ninety-six percent (96%) of participants’ internal CRE organizations currently have operations and/or staff located in the United States. Seventy-two percent (72%) of participants 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).