Magazine article Journal of Property Management

What Property Managers Really Make

Magazine article Journal of Property Management

What Property Managers Really Make

Article excerpt

Management theories on compensation are important, but eventually all the theorizing returns to the same bottom line: cold, hard cash. The truth is, we all want to know how we compare dollar for dollar with the rest of our field.

While most business people do their own research or simply wait for U.S. News World Report or Fortune to do an edition on average salaries, CERTIFIED PROPERTY MANAGER(R) members of IREM have it easy. IREM puts together a comprehensive CPM(R) profile and compensation study every three years, the most recent edition appearing in the spring of 1993.

What the study reveals is that for 1992, CPM members received an average total compensation of $77,663, and a median total compensation of $60,000. These total compensation figures included salary, commissions, and other real-estate related income. For the most part, however, the bulk of the total compensation can be accounted for by management salaries.

Median total compensation has increased steadily over the last decade, from $44,700 in 1981, to $60,000 in 1992. According to the study, CPM members and Candidates also receive a number of fringe benefits. The most commonly received benefits include holidays and vacations, group hospitalization, life insurance, and association dues. …

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