Estates Gazette survey sees jobseekers market in the commercial property sector

Estates Gazette, in association with PSD, today reveals the results of a comprehensive salary survey into the commercial property sector.

Estates Gazette, the UK> ’> s foremost commercial property publication, publishes the survey annually in conjunction with international recruitment company PSD. The study paints a detailed picture of pay, attitudes and recruitment issues within the industry.

The 2004 survey reveals:

* a highly paid sector, with average salaries of almost 50,000

* an optimistic workforce, where increases and bonuses are expected

* a stable employment pattern, in which staff stay within the industry and change employer infrequently

* an attractive and evolving benefits structure

Clare Plummer, recruitment manager at Estates Gazette, puts these conditions down to the difficulty in attracting the right people: Firms are keen to keep employees on side, she commented. It’s a jobseekers> ’> market.

PSD consultant Dominic Rushby supported this view: Exceptional people are typically able to choose from four or five jobs.

Pay, prospects and employment
Pay in the commercial property sector is impressively high, with an average salary of 49,070, bonuses averaging almost 7,500 and inflation-busting increases of 6.2% across the industry in 2004.

Good salaries are on offer from a relatively young age - average pay for 26-35 year olds is 37,560.

The survey also portrays a confident, optimistic industry - 86% of respondents expect a salary rise next year, typically of 5.2%.

Unsurprisingly given such inducements, employment in the sector is very stable. The average property professional has worked in the industry for 13 years, and 83% of those surveyed have been with their current firm for two years or more. Over half have not changed employer for over four years. On average, respondents expected to be with their present company a further 4.9 years.

Benefits
Overall, benefits offered in the sector are on the rise, but the structure has undergone some significant change in recent years.

Healthcare is now the most popular benefit offered to property professionals, 65% of whom have a health plan. Mobile phone bills have rapidly taken second place at 58%, with the previous favourite, the company car, now down in fifth place, offered to just 41%. Performance-related bonuses (57%) and contributory pensions (56%) are now third and fourth.

Paid paternity leave is also on the rise in recent years, with 12% now receiving this benefit.

Recruitment
Reasons for joining current employers are for the most part self-motivated rather than company-inspired, and are dominated by two factors - better long-term prospects and new challenges accounted for close to half of respondents (47%). Company reputation encouraged only 8% of jobseekers.

Despite the stability of employment in the sector, 82%> of property professionals claimed they peruse job adverts even when not looking for a job. The most prominent method of job-searching is to contact a recruitment agency, used by 63% of those surveyed. Over half - 55% - are happy to approach employers directly, 50% use national property publications, whilst only around one third search online.

To request a copy of the full survey, please visit: