ATLANTA, GA – 16 FEBRUARY, 2022 – 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).
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About CoreNet Global
CoreNet Global is a non-profit association, headquartered in Atlanta, Georgia (US), representing nearly 10,000 members in 50 countries with strategic responsibility for the real estate assets of large corporations. The organization’s mission is to advance the practice of corporate real estate through professional development opportunities, publications, research, conferences, designations and networking in 46 local chapters and networking groups globally.
For more information, please visit corenetglobal.org.
About Ferguson Partners
Specializing in Board, executive recruitment, and business advisory services, Ferguson Partners delivers premier strategic solutions to the real estate, real assets, infrastructure, hospitality, and healthcare services sectors. Our global teams specializing in executive recruitment, management consulting, compensation consulting, and leadership development serve clients in our sector specialties. Our colleagues commit to understanding your business’s unique needs and advancing its success. Our boutique firm has eleven offices worldwide, dedicated to offering personalized client services and integrated talent management solutions.
For more information, please visit fergusonpartners.com.