The RICS and MacDonald & Company Annual Rewards & Attitudes Survey (2016) examined the typical salaries of different specialisms within our field. 7,466 UK based professional surveyors completed the online survey in December 2015 and January 2016, producing the following results:
- The average UK property salary has increased to £54,839. Whilst only a 0.1% increase on the previous year, it is the highest average salary level for 9 years.
- Confidence in economic activity in the next 12 months remains positive with 51% of respondents anticipating economic improvement in 2016, although this is down from 59% in 2015. By sector, regeneration and retail leasing/agents were the most positive, with 66% of each anticipating an increase in economic activity during 2016. This was followed by financial/real estate analyst (65%) and marketing/international project marketing (64%). However negative economic sentiment increased by 2% to 8% and 41% (+6%) thought that over the next 12 months economic activity will remain the same. Those working in residential agent/sales/leasing are the least confident, with 17% predicting a decrease in economic activity during 2016. Regionally, the Midlands were generally the most optimistic (56%) and East Anglia and the North West/East (52%), compared with an average of 51% across the U.K.
- Of those respondents who received a salary increase and submitted that increase to the survey, those who achieving professional qualification received the highest percentage increase (21.6%). Those who moved job or had a new employer received the next highest increase at 16.2%. Those who received the lowest annual salary increase were those who received their increase as a result of an annual pay review (4.6%).
- The most important aspect of their job for 70% (up 1%) of respondents was a range of interesting work, followed by salary at 69% (up 2%), management style at 65% (up 1%) and job security at 59% (up 2%). It is worth noting that, relative to other factors, the working environment is becoming increasingly important, increased 14% over the last 3 years.
- Company values/ethics (62%, up 3%), followed by leadership/management style (61%, up 2%), business vision and future potential (61%, up 2%), work life balance (60%, up 2%) aand reward & recognition (59%, up 1%) all work towards making a company an employer of choice, with 79% (an increase of 2%) of people stating they work for their employer of choice.
They also conducted a salary overview by main professional activity, concluding the following results:
The average salary of a graduate surveyor: £25,407
The average salary of an academic: £43,788
The average salary of an arts and antiques surveyor: £32,125
The average salary of a building surveyor: £44,051
The average salary of a building control surveyor: £48,926
The average salary of a construction management surveyor: £75,425
The average salary of a facilities management surveyor: £64,130
The average salary of a commercial development surveyor: £83,089
The average salary of a residential development surveyor: £69,274
The average salary of a fund management surveyor: £88,556
You can read further average salary results, recent pay increases, bonus payments and employment benefits in the full The RICS and MacDonald & Company Annual Rewards & Attitudes Survey (2016) report (click to download). If you would like to compare with the previous year, you can click here: 2015
What sort of salary could a graduate surveyor expect?
The current average salary of a graduate surveyor is £25,407. It has been a while since the RICS has conducted a Graduate intake survey. The last one being 2013 – which showed graduate surveyor starting salaries had risen in London but dropped regionally, producing the following results:
• The average 2013 salary in London £24,500 (compared with £23,500 in 2012); and
• The average 2013 salary £20,600 (compared with £20,900 in 2012)
Interestingly, the survey also revealed that in 2013:
• 71% of firms were currently recruiting graduates.
• 25% of firms were recruiting via corporate websites and job boards.
• There was a 26% decrease year-on-year in companies recruiting via tours of universities.
• An 11% decrease year-on-year in companies using a mix of methods.
• Of those not recruiting in 2013, 79% were recruiting on an ad hoc basis (2012: 78%) and 14% were not running a recruitment programme at all (2012: 17%)
The rest of the Graduate intake survey 2013 results can be downloaded here.
* Source RICS website