Property and real estate industry professionals in Asia earned 3.4 percent less money last year, according to an annual survey conducted by the Royal Institution of Chartered Surveyors and real estate recruitment company Macdonald & Co.
While overall salaries declined to stand at an average of US$96,087 in 2013, real estate professionals in Malaysia witnessed the highest growth in the region although their salaries are still the lowest in the region.
A decrease in the number of top-level positions in the industry was cited by the report as being one of the reasons for the decline. Despite this, 56 percent of survey respondents reported they received a salary increase in 2013, however just 11 percent received bonuses – down from 46 percent in the previous year. Those who received an increase saw a 10.1 percent rise.
Including salary, bonuses and other financial rewards, the average take-home pay for property and real estate professionals in Asia was US$140,874, according to the report which is now in its eighth year.
Whilst Malaysian professionals reported the lowest salaries, it was those in China who commanded the highest salaries in Asia. Salaries in Singapore declined, with the government’s property market cooling measures being noted as one contributing factor.
Staff turnover in the industry is high, with 62 percent of survey respondents also saying there are either “fairly likely” or “likely” to change their jobs within the next 12 months. In contrast, some 78 percent are either “satisfied” or “very satisfied” with their current employer.
Some 66 percent also predict their employer will increase headcount this year.
The survey recorded replies from 1,525 Asian real estate professionals from Asia between November 2013 and January 2014.
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The full findings of the survey can be downloaded from: http://www.macdonaldandcompany.com/salary-survey
Andrew Batt, International Group Editor of PropertyGuru Group,
wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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