Survey: managers in the money

Real Estate Weekly, June 16, 2004

Real estate management professionals holding the Certified Property Manager designation earned median total compensation of $95,000 in 2003, including base salary for property management and additional income from sales and leasing commissions.

By comparison, CPM designees' median total compensation was $83,000 in 1999 and $50,800 20 years ago, in 1984.

On a separate but related note, those pursuing the CPM designation, termed CPM Candidates, earned $73,000 in median total compensation last year versus $64,000 in 1999 and $35,000 in 1984.

These are among the just-released findings of the 2004 edition of the C ertified Property Manager Profile and Compensation Study conducted by the Institute of Real Estate Management. (IREM). The Institute, which has 16,000 individual members and 530 company members, awards the CPM designation to property and asset managers who have met strict criteria in the areas of education, experience and a commitment to a code of ethics.

IREM periodically surveys its CPM Members and Candidates to compile, analyze and compare the most critical characteristics of real estate managers' compensation and fringe benefit packages.

The published survey findings provide detailed comparisons based on portfolio size, area of management specialization, and level and types of experience and how each of these variables affects salary levels and the total compensation package.