ATLANTA, March 29, 2016 (GLOBE NEWSWIRE) -- In a recent survey of corporate real estate executives at large corporations globally, 83 percent reported that their base salary increased from 2014 to 2015, and 80 percent projected further increases in 2016, according to a survey conducted by CoreNet Global and FPL Associates.
The average total annual cash compensation for a head of corporate real estate globally was $265,684 in 2015 compared to $231,197 in 2014, an increase of nearly 15 percent.
Regionally, of the participants that work in North America, 84 percent saw an increase in base salary from 2014 to 2015 and 82 percent expect an increase in base salary from 2015-2016. Of the participants that work in Asia, 71 percent saw an increase in base salary from 2014 to 2015 and 71 percent expect an increase in base salary from 2015-2016. And of the participants that work in Europe 90 percent saw an increase in base salary from 2014 to 2015 and 90 percent expect an increase in base salary from 2015-2016.
“The continually rising salaries in corporate real estate are driven by a recognition of the profession as key to overall corporate performance,” said Angela Cain, CEO of CoreNet Global. “As corporate real estate evolves, more people are seeing it as the well-defined profession that it is, as well as a financially rewarding career option.”
In the survey, which ranks numerous positions in addition to head of corporate real estate, 48 percent of the respondents received an increase in annual incentives/bonuses in 2014 compared to 2013, and 41 percent projected an increase for 2015 compared to 2014. The projected average increase in annual incentives for 2015 is 12 percent.
Long-term incentive compensation also increased for many of the respondents. 41 percent reported increases in long term incentives in 2014 compared to 2013, and 26 percent projected an increase in 2015 from 2014.
Participants reported receiving an assortment of “perks.” On average, participants received the most amount of money for automobile allowances and tuition reimbursement.
Survey Methodology
In the third quarter of 2015, FPL worked with CoreNet Global to develop a questionnaire for the purpose of gathering compensation information relevant to internal CRE organization employees in the current market. The questionnaire included a number of questions that have become standard to the CoreNet Global Compensation Survey, to allow for comparisons to prior years’ studies and to identify trends.
For this year’s survey, 172 end user members provided thorough responses, classifying them as participants. FPL gathered all of the responses, clarified additional information, as needed, from participants, and then analyzed the data to develop this summary report. The largest categories represented were technology and financial services.
Nearly all of the participants had operations in the U.S., 59 percent had operations in Europe, 55 percent had operations in Asia, and 42 percent had operations in Canada.
About CoreNet Global
CoreNet Global is the world’s leading professional association for corporate real estate (CRE) and workplace executives, service providers and economic developers. CoreNet Global’s 9,000 members, who include 70 percent of the top 100 U.S. companies and nearly half of the Global 2000, meet locally, globally and virtually to develop networks, share knowledge, learn and thrive professionally. For more information, please visit www.corenetglobal.org.
About FPL Associates L.P.
FPL Associates, a member of the FPL Advisory Group family of companies, provides a range of specialized compensation and management consulting solutions to a select group of related industries. As part of its compensation services, FPL Associates assists clients in the assessment, design, and implementation of compensation programs for professionals and board members. The company specializes in crafting performance management and reward systems that align management interests with the achievement of strategic business objectives. For more information please visit www.fplassociates.com.