60% of firms plan >6% base salary increase
NAREIM Member Survey: Compensation & benefits
July 12, 2022
Almost two-thirds of real estate investment management firms are planning to increase base salaries by between 2% and 6%, according to the latest member survey on compensation and benefits.
According to the survey of 31 organizations, almost 32% of firms are projecting base salary increases of between 2% and 4%, while an additional 27% of firms are planning raises of between 4% and 6%. No firm reported a decrease in base.
The member survey also shows 18% of firms are planning increases of 6% to 8%, and 13% are planning raises above 8%.
In the 2021 NAREIM Compensation Survey, firms projected they would increase base salaries by 3.5% in 2021.
The 2022 Compensation Survey will be released in October.
NAREIM invited members to share their compensation and benefit best practices and mid-year adjustments between June 20 and July 11, 2022. A total of 31 member organizations submitted data. Firms represented more than 17,000 employees in total, with an average employee count of 596 and a median employee count of 200, submitted data.
Family leave is impactful benefit
74% of firms offer maternity and paternity leave beyond legal requirements – with firms agreeing it’s one of the most impactful benefits to provide employees.
Asked which benefits firms are providing to employees, beyond health, dental, vision and life insurance benefits and three-quarters of NAREIM members responded that maternity and paternity leave beyond legal requirements was top.
Other benefits to top the list of benefits offer to employees, include
Fitness and wellness programs and reimbursement;
additional PTO/PTO changes (including unlimited PTO);
mental health programs and reimbursement