Study Shows Salary Increases for Certified Property Managers®
- The median base salary last year for CPM candidates was $69,000, versus $69,500 in 2006; $65,500 in 2003; $59,490 in 1999, and $31,000 in 1984.
- Regionally, CPM designees located on the Pacific Coast and in the Northeast, and Mid-Atlantic states earned the largest total compensation, whereas those in the Southeast earned the least. As for CPM candidates, those in the Northeast, Mid-Atlantic, and Southeast regions enjoyed the biggest compensation packages, and those in the Midwest and North Central regions had the smallest.
- The average CPM designee is 50 years old, has earned a college degree, and works for a full service real estate or property management company.
- The average CPM candidate is 41 years old, has earned a college degree, works for a full service real estate or property management company, and averages 12.9 years of experience.
- Slightly more than half, 50.6%, of CPM designees are female, whereas 62.2% of CPM candidates are female.
- Approximately half of CPM designees and candidates are employed by, or associated with, a property management division or firm of 50 or less employees.
- While many CPM candidates occupy more senior positions, some 50.8% define themselves simply as property managers.
- CPM designees who characterized themselves as owners/partners and presidents/CEOs of their firms reported receiving considerably more in total compensation than other CPM-credentialed respondents. Among CPM candidates, those who identified themselves as officers and directors of their respective firms reported total compensation considerably higher than other candidate respondents.
- CPM designees who work for investment companies typically received considerably higher compensation than those who work for other entities, with those employed by corporate real estate firms and not-for-profit management companies at the lower end of the compensation spectrum.
- CPM candidates who work for REITS and property management companies received the highest compensation when compared with their peers.
- Office buildings account for the largest share of portfolios managed both by CPM designees and Candidates, followed by conventionally financed apartments.
- Salary and total compensation for CPM designees and candidates usually increase with the number of residential units or commercial square feet managed.
- CPM members and candidates who manage conventionally financed apartments tend to receive higher salaries than those who manage other property types.
- Compensation for both CPM designees and Candidates typically increases as their age increases.
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