Magazine article Journal of Property Management

Profile and Compensation Studies

Magazine article Journal of Property Management

Profile and Compensation Studies

Article excerpt

The results are in from IREM's Profile and Compensation Studies of CPM/CPM Candidate Members and ARM Members. Every three years, IREM conducts surveys of its members to gather useful data on compensation, management portfolios and various demographic information. Below are highlights from each of the studies.



Similar to past studies, the average CPM respondent is 51 years old, with men comprising half of CPM Members but with women comprising 62 percent of CPM Candidate Members. In addition to IREM coursework, 69 percent of CPM Members and 61 percent of CPM Candidates hold at least an undergraduate degree. Office buildings are the property type that accounts for the largest share of portfolios managed by CPM and CPM Candidate Members, followed by conventionally financed apartments. CPM Members surveyed typically hold executive or property manager/supervisor roles and supervise a staff of 44 employees.

Compensation and Benefits

CPM Members in the study earn a median total compensation of $108,200, which includes a base salary for property management and additional real estate income from sales and leasing commissions. Numerous fringe benefits were reported and most frequently include paid vacation days, holidays, medical and dental insurance, sick days, cell phones, 401(k) and professional association dues. CPM Members in the Northeast, Mid-Atlantic states earned the highest total compensation.

Salary typically increases with years of experience, level of education, and age. CPM respondents who are owners/ partners, presidents/CEOs or officers/directors/VPs receive greater compensation than other respondents. CPM Members who work for investment companies typically receive higher compensation than those who work for other types of employers. …

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