Asia-Pacific Property Sector Professionals See Highest Average Salaries, Rewards & Wage Growth Since 2009
Property professionals are now enjoying the highest average salaries, rewards and wage growth since 2009. Reflecting higher levels of business confidence in recent years, this was one of the top-line findings from the RICS and Macdonald & Co Asia Salary & Benefits Survey, the leading benchmark survey of remuneration and attitudes across the property industry in the Asia-Pacific.
The survey revealed that an RICS qualification led to an 18.1% higher base salary on average compared to non-qualified counterparts. This highlights the market value of a globally-recognised professional qualification which has seen growth year-on-year since the survey started in 2007.
“The RICS and Macdonald & Co survey reveals the market value of the RICS professional qualification. The 2018 report shows that the premium placed on the RICS qualification now stands at 18.1%. This is a clear sign that employers are willing to pay a premium for technical and ethical professionalism as well as the increasing recognition of the value that RICS brings,” Will Myles, Regional Managing Director Asia Pacific, RICS.
Other key findings from the RICS and Macdonald & Co 2018 survey:
1. The average annual base salary of a property professional was found to be at US$110,890, which represents an increase of 23% versus 2017 which can be partially attributed to the growth in the seniority of respondents
2. The total reward received by real estate professionals increased by 35.7% to USD$177,138 year-on-year. This represents the highest total reward for the last 10 years
3. The average bonus for the property sector grew by 79.4% to US$37,801
The annual RICS and Macdonald & Co Asia Salary & Benefits Survey is the leading property industry benchmarking tool based on significant key indicators such as average salary growth (broken down by gender, age and sector), average bonus & total reward as well as job satisfaction. The survey provides insights into regional variations, and offers not just an excellent tool for salary benchmarking, but also leading indicators for employers to stay competitive in today’s war for talent.