CoreNet Global Announces Completion of 2004 Industry Compensation Study, Results to Be Made Available at Chicago Global Summit

CoreNet Global Announces Completion of 2004 Industry Compensation Study, Results to Be Made Available at Chicago Global Summit

Press Release
April 21, 2004

Comprehensive Study Underwritten by PECO Energy and Select Greater Philadelphia

ATLANTA- April 21, 2004 - CoreNet Global, the world's leading professional association for corporate real estate and workplace executives, announced today that research for its 2004 Industry Compensation Study has been completed. The comprehensive study, underwritten by PECO Energy and Select Greater Philadelphia, surveyed members and non-members around the globe to identify compensation for various levels and types of professionals in the industry. The published report detailing results from the web-based study will be made available starting at the Chicago Global Summit, being held May 15-19, 2004.

It is the first-ever wage, salary and benefits survey to be conducted for the corporate real estate industry on a global basis.

The CoreNet Global Compensation Study examined direct compensation and related issues, including base salaries, compensation trends and bonuses as well as other employee benefits and executive perquisites, and reached member and non-member corporate real estate executives and industry service providers in Asia, Australia, the European Union, North America and the United Kingdom. The subsequent report summarizing and tabulating study results will provide the corporate real estate industry with a truly comprehensive set of benchmarks and an up-to-date look at compensation levels for multiple positions common to the industry. It also includes information categorizing positions and their corresponding responsibilities.

"Thanks to the more than 1,200 corporate real estate executives that participated in the study, we were able to compile a breadth of information from around the globe that will undoubtedly provide the industry with an invaluable tool for negotiations," said Peggy Binzel, CEO, CoreNet Global, "Member participation and support from underwriters PECO Energy and Select Greater Philadelphia were essential to making the Compensation Study a success."

The study was conducted by independent research firm Knowledge Systems & Research (KS&R) to ensure confidentiality. The global sample and study findings have a 97.23% confidence rating, with a margin of error of only 2.77%. A panel of member-advisors chaired by industry HR consultant Wes Easley helped guide the survey process in conjunction with CoreNet Global Publications and CoreNet Global Learning, the research and education arm of CoreNet Global.

The study will be available for online orders starting May 17 at www.corenetglobalstore.org or by calling 1-404-589-3200. The report will be made available to CoreNet Global members for $100 per copy; $175 for non-members. Member and non-member survey respondents, however, will receive a specially discounted price of $50 for one copy.