Macdonald & Company have been collecting data for the 17th annual rewards and attitudes salary survey for the global property sector.
For this year’s survey the metrics and data on leasehold block management have been increased. This was achieved by adding specific new industry questions and working with the IRPM and News on the Block to promote the survey to the relevant audience.
This year we had 7,466 responses, with 138 from block management, 1.8% of the total.
Here is a breakdown of some the key data that was collated. As an average salary, people in block management earned £51,443, with an average bonus of £7,282, and additional remuneration coming to £3,245.
Historically, there is a higher level of senior respondents than junior staff in block management – 38.3% of respondents were aged 46-55, with the other end of the scale showing 6.2% aged 27-30 and only 2.5% aged 23-26.
If we look at participants by years of experience, we had 29.3% with 5-10 years, 20.7% with 11 to 15 years and 18.1% with up to four years’ experience.
Breaking the mean salary down by experience, we have people with up to four years being paid £34,219 with a £1,400 bonus; 5-10 years paid £37,024 with a £2,530 bonus; 11-15 years paid £50,547 and a £2,985 bonus; 16-20 years £64,000 and an annual bonus of £7,000; 21-30 years £72,437 and a bonus of £6,000.
The mean salary across London was £52,524, with an average bonus of £7,265.
Moving on to attitudes, the economic outlook was positive among block managers, with 54.8% expecting further growth.
But showing they had a cynical side, a majority of 54.2 % did not expect an increase in pay. Again, 54.2% believe their employer will look to increase head count in junior hires (34.9%) and experienced hires (45.3%). Only 5.8% believed their business would be hiring at a senior level.
When it comes to job satisfaction and reasons for leaving, we noticed three recurring themes – working environment, job security and, obviously, pay.
Thank you to all that took part, and to the IRPM and News on the Block. You can request a complimentary physical copy of the rewards and attitudes, or buy the metrics from our survey partner, bluesky.
Stuart Jackson is associate director at Macdonald & Company
