Commercial Real Estate Exec Compensation Improving CEL & Associates, one of the nation's top commercial real estate industry consultants, has posted part of its annual industry compensation survey on its Web site, showing that the median pay of a real estate organization CEO is $235,000 per year, with performance bonuses often doubling that number. Some of the 1999 survey results are posted on the Los Angeles-headquartered company's Web site at: http://www.celassociates.com. According to CEL, the median salary of a real estate chief operating office was $196,000 last year and the median salary of a division executive was $150,000. The median salary of a regional executive was $149,000. The CEL survey is believed to be the largest and most comprehensive survey of real estate compensation levels. More than 400 firms participated in this year's survey. The data came from commercial, multifamily, home building, property management, development, advisory and brokerage firms. The posted on its Web sit is a compilation of all data,cross-sectioning small, medium and large public and private firms. According to the survey, top recruiters and human resource managers who help retain star performers are beginning to see their compensation packages go up - reflecting the shortage of qualified workers and the continuing need to defend against employee raids by competitors. The median pay range for human resources executives was $80,000 with potential bonuses pushing that over $100,000. The survey suggested that overall, for the first time in over a decade, real estate industry pay increases rose two to three times faster than the Consumer Price Index. In 2000, senior-level executives will likely see raises in the 5 to 6 percent range, while mid-level personnel can expect an average 4 to 5 percent raise. Real estate executives likely to see the high pay increases, however, appear to be those involved with business development and technology and business development. Typical pay for a business development executive is above $130,000 while IT directors are making $83,000, plus bonuses. According to CEL, the top employment markets are San Francisco, Atlanta, Washington, D.C., and Southern California where pay increases may reach 6 to 8 percent in 2000. |
