Corporate real estate executives doing better in Asia-Pacific
Salaries for corporate real estate executives in the Asia-Pacific region are more than those of their counterparts in Europe but less than those in the US.
A recent worldwide survey of real estate executives at large companies found 76 per cent had a rise in base salary last year from the year before, and 79 per cent projected further increases this year.
The average increase in base salary last year was 6 per cent.
The survey, conducted by CoreNet Global and FPL Associates, found that, on average, regional heads of corporate real estate in Asia received salaries 18 per cent higher than those in Europe.
However, in the United States, executives in corporate real estate earned, on average, 5 per cent more than those in equivalent roles in Asia.
With globalisation and multinationals moving from West to East to establish or expand headquarters and offices in cities in the Asia-Pacific region, such as Singapore, Hong Kong and Shanghai, corporate real estate is becoming a consideration for business leaders and strategists in the region, said CoreNet Global, an association of corporate real estate professionals.
"As the workplace, human resources and information technology become further entwined, corporate real estate continues to evolve into a more strategic corporate function," said Angela Cain, chief executive of CoreNet Global.
The result was higher pay for a majority of corporate real estate and asset managers, she said.
CoreNet Global is the world's professional association for corporate real estate and workplace executives, service providers and economic developers. CoreNet Global has 8,000 associates, who include 70 per cent of the top 100 US companies and nearly half of the Global 2000, the top 2000 public companies in the world as chosen by Forbes magazine.