Nearly 90% of commercial real estate organizations surveyed awarded salary increases in 2006, Watson Wyatt Data Services Reports
Bonus payments for commercial real estate employees edge toward 100 percent, survey finds. Half of surveyed realtors offer long-term incentive plans to their employees.
ROCHELLE PARK, N.J., (October 2, 2007) – Watson Wyatt Data Services, a wholly-owned subsidiary of Watson Wyatt Worldwide, today announced the publication of its 2007/2008 Survey Report on Compensation in the Commercial Real Estate Industry. Overall, 89.4 percent of this survey’s participating organizations granted salary increases in 2006. For the entire sample combined, average 2008 salary increase projections are expected to be slightly higher than those budgeted for 2007 for the overall employee category. The 2008 salary increase projection for the same group averaged 3.8 percent while those budgeted for 2007 are 3.7 percent. Salary increase projections for 2008 are slightly higher than those budgeted for 2007 in three of the five employee groups. Only the Executive group experienced lower salary increase projections for 2008 vs. those budgeted in 2007 (4.1 percent vs. 4.0 percent). The Management Excluding Executives group’s salary increase projections remained unchanged from 2007 to 2008.While, 90.0 percent of employees covered in this survey sample received some form of bonus payment during the past 12 months, significant variation existed in the percentage of employees receiving bonuses based on salary level. Workers paid less than $30,000 annually received bonuses 20.7 percent of the time. This contrasts significantly with the 75.7 percent of workers who received bonus payments when paid $200,000 or more.Trends and Practices
Half (50.0 percent) of survey respondents have long-term incentive plans in place for eligible commercial real estate employees. Multiple types of plans are common, but restricted stock plans and non-qualified stock option plans are the most common long-term incentives cited by survey sample.One third of responding organizations have a severance pay program in place for their employees. More than two-thirds (74.1 percent) of respondents with a plan pay severance as a lump sum, while 28.6 percent pay severance as normal payroll schedule. Employer- paid medical continuation is offered by 40.0 percent of survey respondents.This report is based on responses from 38 organizations encompassing 337 locations reporting data on 10,575 incumbents. A total of 63 geographic areas, including 29 metropolitan areas are reported on in this year’s edition.The report covers a full range of commercial real estate personnel, including general executive, accounting and finance, human resources, information systems, administrative services, marketing, property management, security, maintenance, brokerage and leasing, legal, business development, acquisitions and asset management, construction and real estate appraisal.
The 2007/2008 Survey Report on Compensation in the Commercial Real Estate Industry is available online, on CD or in a printed book format.
About Watson Wyatt Data Services
Watson Wyatt Data Services (WWDS), a wholly owned subsidiary of Watson Wyatt Worldwide, is a leading provider of compensation, benefits, and employment practices information to the global employer community. From offices around the world, we solicit, analyze, and publish an extensive library of printed, interactive and online survey reports. Our compensation databases are recognized worldwide as the most reliable source of current data for compensation planning.Global scope, local knowledge …Covering more than 95 countries across six continents, our data centers in the U.S., Canada, Europe, Asia, and Latin America annually compile reports on the remuneration, benefits, and employment practices of local and multinational companies. Our “in-country” experts apply their local knowledge of the varied employment markets, practices, and customs to deliver a complete compensation picture that can be used to create sound, market-based pay programs for entire organizations. Our international databases contain compensation information covering millions of employees based on the annual survey participation of organizations ranging from emerging growth companies to many of the world’s largest conglomerates. In addition to compensation surveys, WWDS also publishes references that help HR practitioners attract, retain, and reward exceptional employees. These guides cover a wide variety of subject areas, including variable pay, performance management, and personnel policies on a local, regional, and global basis. For more information, visit our Web site at WWDS.com.
For more information, contact:
MaryBeth IannacconeWatson Wyatt Data ServicesTel: (201) 843-1177, extension 3480E-mail: Marybeth.iannaccone@watsonwyatt.com