Salaries for UK property professionals increased to a 10 year high in 2018
The Royal Institute of Chartered Surveyors (RICS) and Macdonald & Company revealed in their latest salary survey report, that salaries for UK property professionals increased in 2018, to a 10 year high, with RICS chartered status continuing to boost wages. Salaries for London’s property professionals have hit their highest level since the financial crash.
The report stated: In the 2018 Salary Survey, professionals’ – covering 42 professional strands of property – base salaries grew on average by 12% to £58,633; levels not seen since the 2009 report, post financial crash.
Barry Cullen, RICS Diversity & Inclusion Director said:
“The latest results from this survey show the built environment continues to be an attractive sector to work in with professionals’ pay hitting highs not seen since the financial crisis. As headcount is once again expected to increase in 2018, more employers are placing greater focus on attracting and retaining talent, with attractive pay and benefit packages. However, organisations must embrace an offering beyond an attractive salary and benefits package if we are going to truly diversify the profession and meets the needs of our future.
“In 2018, the gender pay gap still remains evident and whilst it is significantly less for those under 26, more still needs to be done. People should be able to bring their whole self to work in an inclusive environment, celebrating their individual talent irrespective of differences. For the property profession to be a world leader in Diversity and Inclusion we need to place diversity at the heart of an organisation and ensure we retain our talent and build off the great advances we are seeing with our younger professionals.”
Peter Moore MRICS, Managing Director, Macdonald & Company said:
“This annual survey remains the benchmark survey of remuneration and attitudes across the UK property industry with almost seven thousand respondents. With the demographic of respondents similar to the 2017 survey the results offer a robust comparison to last year.
“In terms of salary increases, 65% received a salary increase of an average of 6.3%, similar to the past three years. Surprisingly only 4.3% of those who got an increase did so as a result of an annual salary review, whereas 23.4% received an increase having attempted to resign or having found another job. A surprising 41% of those working for consultancy/advisors are likely to move jobs in the next twelve months with 74% citing salary as being the principal reason for the move.”
Read the RICS & Macdonald & Company Salary Survey report 12th March 2018 in full click here.
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