You’ve heard us say it many times: corporate real estate is a critical function in the organization that is rising in the hierarchy because it intersects with practically every other role: where people work and how they work.
We know this in our gut, because it is what we do, as corporate real estate professionals. But every year, we reaffirm it as fact, because it is reflected by increasing compensation levels. CoreNet Global, along with FPL Associates, has been tracking compensation with an annual global survey of the profession.
Among the survey findings this year, 81% reported that their base salary increased from 2015 to 2016 by an average of 4.6%. In addition, 75% projected further increases in 2017.
The average total annual cash compensation for a head of corporate real estate globally was $280,000 in 2016 compared to $265,684 in 2015, an increase of more than 5%. Since 2012, the average total annual compensation for a head of corporate real estate has increased by more than 20%. In North America alone, the average total annual cash compensation was $292,000 in 2016, nearly 9% higher than a year earlier.
Says CoreNet Global’s Senior Vice President Tim Venable: “Corporate real estate is increasingly viewed as a key strategic resource that the corporation can leverage to achieve its business goals. Examples include higher levels of employee retention and attraction, a greater commitment to sustainability, lower energy costs, increased flexibility in uncertain times and reduced operational risk.”
Show you the money? We are Jerry, We are!