Corporate real estate professionals experienced continued salary increases last year, according to the newly released CoreNet Global End User Compensation Survey. The survey, which was conducted in the third quarter of 2024, was carried out in partnership with Ferguson Partners. It provides a comprehensive analysis of the compensation trends, base salaries, incentive structures, and benefits for corporate real estate professionals.
This year’s survey received responses from 107 end user members, representing 99 organizations, including numerous Fortune 500 companies. Among the key findings of the survey is the significant increase in base salaries for corporate real estate professionals. Seventy-eight percent of participants reported an increase in their base salary between 2023 and 2024, with a median increase of 3.8% and an average increase of 4.8%. Additionally, seventy-nine percent of participants anticipate receiving a salary increase in the coming year.
The survey also highlighted the changes in incentive structures for corporate real estate professionals. Fifty-one percent of participants reported receiving an increase in their annual incentive, or cash bonus, award payout in 2023 compared to 2022. The median increase for these bonuses was 15%. However, 21% of participants did report a decrease in their annual incentive, with a median decline of 18%.
In terms of long-term incentives, 48% of participants saw an increase in their award payout in 2023, with a median increase of 10%. Looking ahead, 58% of participants expect their long-term incentives to remain unchanged, while 29% anticipate an increase.
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The survey results also indicate the growing importance of corporate real estate professionals within the broader business strategy and workplace evolution. As these professionals continue to play a key role, their value is being reflected in the ongoing compensation growth.
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“The results of this year’s survey reinforce the critical nature of this industry and the increasing importance of corporate real estate leaders in shaping the future of work,” said Scott Wiley, CAE, CEO of CoreNet Global.
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In addition to the salary and incentive data, the survey also explored the various perquisites and benefits provided to corporate real estate professionals. The top reported benefits include mobile device and internet reimbursement, tuition reimbursement, on-site fitness or health club memberships, parking or commuter benefits, and subsidized meals or cafeteria access.
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