2020 REAL ESTATE COMPENSATION SURVEY All Companies - CEL & Associates

2020 REAL ESTATE COMPENSATION SURVEY

All Companies - Consolidated Results

(1)

Base Salary Range

Position

Actual Bonus

As % of Salary

Low

Median

High

Average

$296,200

$401,000

$251,300

$291,700

$301,000

$260,800

$220,000

$227,700

$409,200

$677,800

$384,500

$409,400

$389,600

$383,000

$291,100

$285,900

$675,000

$905,100

$551,700

$553,400

$505,400

$523,400

$344,400

$395,000

184.9%

185.2%

131.1%

119.3%

119.1%

108.9%

64.0%

83.1%

$208,600

$243,400

$141,900

$142,300

$122,200

$134,800

$180,800

$154,100

$122,000

$285,700

$336,000

$194,400

$184,400

$175,100

$192,400

$255,400

$213,200

$159,800

$374,300

$433,000

$264,300

$232,000

$227,800

$273,200

$336,000

$261,900

$234,500

87.1%

91.7%

37.9%

30.2%

34.6%

43.6%

53.9%

65.2%

39.1%

$85,000

$85,600

$61,100

$58,200

$175,500

$72,600

$75,900

$100,100

$74,000

$69,100

$84,500

$57,300

$57,100

$64,100

$47,500

$103,500

$105,800

$71,500

$69,900

$215,000

$86,800

$89,200

$125,500

$88,300

$86,300

$109,100

$68,500

$69,500

$74,300

$54,600

$127,800

$134,300

$87,700

$84,500

$240,900

$108,200

$109,200

$147,700

$112,800

$105,700

$131,000

$84,400

$85,900

$88,100

$63,600

17.5%

16.2%

9.8%

8.9%

26.4%

10.2%

12.8%

14.3%

10.7%

9.3%

14.5%

10.8%

10.4%

9.7%

6.5%

$126,100

$108,800

$111,200

$120,200

$80,600

$156,100

$115,400

$95,500

$92,800

$62,300

$67,400

$74,500

$55,900

$44,800

$69,000

$54,600

$93,800

$68,200

$131,200

$173,800

$166,100

$153,000

$149,300

$106,300

$187,700

$145,100

$116,000

$108,000

$82,200

$82,800

$82,800

$65,900

$51,000

$80,500

$62,900

$109,200

$83,500

$169,600

$219,900

$223,200

$210,700

$189,300

$153,200

$225,200

$182,100

$135,300

$134,400

$97,700

$102,900

$95,500

$75,600

$60,900

$98,500

$76,200

$131,400

$99,300

$214,000

32.8%

29.6%

22.0%

21.6%

14.3%

27.3%

18.1%

17.5%

15.9%

10.3%

11.7%

9.2%

7.7%

6.5%

9.1%

6.7%

16.2%

11.9%

22.5%

Executive & Corporate Positions

Senior Executive

Chairman of the Board (not CEO)

Chief Executive Officer

President

Chief Operating Officer

Chief Investment Officer

Chief Financial Officer (CFO)

Chief Accounting Officer

Chief Administrative Officer

Executive

Top Capital Markets Executive

General Counsel

Top Marketing Executive

Top IT Executive/Director

Top Corp. Comm./Investor Relations Exec.

Top Research Executive/Director

Top Business Development Executive

Regional Business Development Officer

Top Human Resources Executive

Corporate

Human Resources Manager

Compensation/Benefits Manager

Human Resources Generalist

Payroll/Benefits Manager

Associate General Counsel

Paralegal

Marketing Manager

IT Manager

IT Engineer/Analyst

Network Administrator

Training Director/Manager

Lease Administrator

Office Manager

Executive Administrative Asst.

Administrative Assistant

Finance/Accounting

Vice President/Director Finance

Treasurer

Top Risk Management Executive

Director Internal Audit

Compliance Director/Manager

Senior Controller

Controller

Assistant Controller

Accounting Director/Manager

AP/AR Manager

Accounting Supervisor

Senior Accountant

Accountant

Accounting Clerk

Property Accountant - Senior

Property Accountant

Senior Financial Analyst

Financial Analyst

Vice President/Director Tax

Please note that the compensation figures presented represent a composite of all companies participating in the 2020 CEL National Survey and are not stratified by

ownership/type of company (public vs. private), company size, product specialization, regional geographic location, or metropolitan area. Further, factors such as tenure,

experience, role and responsibility will impact compensation levels and benchmarks (percentiles) for the evaluation of any comparative situation, as will the financial situation of

a company and its investment and business strategy.

(1) High = 75th percentile, Median = 50th percentile, Low = 25th percentile.

Survey Completed 2Q 2020.

Source: CEL Associates, Inc./CEL Compensation Advisors, LLC (c) 2020 National Real Estate Compensation Survey - All Rights Reserved. Not to be referenced or

reproduced in any form without prior permission in writing: 12121 Wilshire Blvd., Suite 204, Los Angeles, CA 90025 Tel. (310) 571-3113, Fax. (310) 571-3117.

Page 1 of 4

2020 REAL ESTATE COMPENSATION SURVEY

All Companies - Consolidated Results

(1)

Base Salary Range

Position

Actual Bonus

As % of Salary

Low

Median

High

Average

$244,600

$227,700

$340,600

$311,200

$461,800

$380,100

106.0%

107.2%

$197,200

$130,800

$86,300

$265,000

$168,300

$110,800

$328,900

$209,600

$136,400

58.5%

47.7%

29.5%

$219,600

$170,000

$106,700

$116,400

$96,200

$269,300

$202,000

$136,000

$162,600

$125,500

$358,200

$257,000

$162,600

$195,600

$158,700

59.0%

36.6%

26.4%

28.4%

26.1%

$168,500

$151,100

$117,500

$103,900

$68,000

$62,900

$85,100

$92,900

$56,500

$91,300

$60,800

$91,400

$101,200

$64,800

$70,700

$49,900

$42,100

$223,100

$189,800

$157,200

$121,100

$87,800

$88,700

$98,500

$114,300

$63,900

$112,500

$82,600

$108,500

$113,500

$75,000

$82,100

$59,500

$50,400

$299,000

$247,800

$193,100

$142,500

$104,500

$104,900

$115,500

$141,800

$72,900

$137,400

$97,100

$128,300

$133,300

$94,400

$100,600

$69,300

$57,300

51.5%

26.1%

26.7%

17.0%

11.7%

10.3%

12.9%

14.1%

8.1%

13.4%

12.8%

14.5%

13.8%

7.2%

8.8%

6.0%

5.1%

$154,300

$93,400

$76,800

$55,900

$89,500

$218,800

$146,700

$112,400

$71,100

$98,300

$297,800

$201,900

$154,100

$101,600

$137,600

108.3%

86.7%

101.5%

54.5%

17.7%

$227,400

$185,700

$154,400

$118,100

$121,900

$92,400

$68,000

$59,900

$165,700

$110,200

$93,100

$291,400

$216,300

$183,000

$137,200

$147,700

$108,100

$81,500

$69,800

$216,700

$134,400

$107,400

$395,100

$260,700

$217,100

$174,500

$173,400

$134,300

$107,800

$81,200

$281,000

$169,900

$125,400

75.9%

43.5%

31.8%

22.7%

19.3%

17.2%

12.7%

10.9%

56.0%

22.8%

12.7%

$240,400

$203,600

$347,300

$252,500

$456,800

$340,700

91.0%

49.6%

$179,700

$130,200

$75,900

$233,400

$165,300

$99,600

$318,700

$219,700

$123,400

119.7%

49.9%

21.9%

Office/Industrial Positions

Senior Executive

Top Division Executive

Top Regional Executive

Acquisitions

Top Acquisitions Executive

Acquisitions Director/Manager

Acquisitions Associate

Asset Management

Top Asset Management Executive

Senior Asset Management Executive

Portfolio Manager

Senior Asset Manager

Asset Manager

Property Management

Top Property Management Executive

Vice President Property Management

Regional Property Manager

Senior Property Manager

Property Manager I (1,000,000 sq.ft.)

Assistant Property Manager

Senior Facility Manager

Operations Analyst

Operations Director/Manager

Regional/Portfolio Maintenance Engineer

Building Engineer/Chief Engineer

Maintenance Supervisor/Lead Engineer

Maintenance Engineer/Technician II (mid-level)

Maintenance Engineer/Technician I (entry-level)

Leasing

Top Leasing Executive

Senior Leasing Executive

Leasing Manager

Typical Leasing Agent/Representative

Regional Marketing Director/Manager

Development/Construction

Top Development Executive

Vice President/Director Development

Senior Development Manager

Development Manager

Senior Project Manager

Project Manager

Project Analyst

Project Administrator

Top Construction Executive

Construction Manager

Construction On-Site Manager

Residential Positions

Senior Executive

Top Division Executive

Top Regional Executive

Acquisitions

Top Acquisitions Executive

Acquisitions Director/Manager

Acquisitions Associate

Please note that the compensation figures presented represent a composite of all companies participating in the 2020 CEL National Survey and are not stratified by

ownership/type of company (public vs. private), company size, product specialization, regional geographic location, or metropolitan area. Further, factors such as tenure,

experience, role and responsibility will impact compensation levels and benchmarks (percentiles) for the evaluation of any comparative situation, as will the financial situation of

a company and its investment and business strategy.

(1) High = 75th percentile, Median = 50th percentile, Low = 25th percentile.

Survey Completed 2Q 2020.

Source: CEL Associates, Inc./CEL Compensation Advisors, LLC (c) 2020 National Real Estate Compensation Survey - All Rights Reserved. Not to be referenced or

reproduced in any form without prior permission in writing: 12121 Wilshire Blvd., Suite 204, Los Angeles, CA 90025 Tel. (310) 571-3113, Fax. (310) 571-3117.

Page 2 of 4

2020 REAL ESTATE COMPENSATION SURVEY

All Companies - Consolidated Results

(1)

Base Salary Range

Position

Actual Bonus

As % of Salary

Low

Median

High

Average

$179,900

$146,500

$108,800

$111,000

$80,300

$250,900

$174,300

$125,800

$123,500

$97,200

$306,300

$257,500

$150,300

$154,800

$118,100

82.2%

38.4%

23.9%

27.7%

19.0%

$206,400

$148,900

$102,800

$70,500

$43,700

$54,600

$62,700

$72,600

$38,600

$34,500

$41,600

$34,500

$59,000

$69,700

$77,700

$50,100

$39,000

$35,300

$32,000

$26,800

$27,000

$282,700

$188,100

$122,800

$87,700

$51,900

$64,000

$73,100

$80,000

$44,300

$46,200

$55,400

$40,500

$81,900

$97,100

$97,800

$57,100

$45,000

$40,800

$36,700

$29,700

$30,000

$375,700

$242,800

$145,400

$107,400

$60,900

$73,900

$82,800

$95,200

$52,500

$56,500

$72,000

$49,600

$100,100

$140,700

$112,900

$67,000

$51,800

$45,400

$42,700

$33,700

$34,600

78.9%

32.1%

19.7%

18.2%

15.6%

17.0%

17.2%

18.5%

13.3%

9.2%

10.0%

8.1%

8.6%

17.4%

11.7%

9.7%

6.1%

6.9%

4.8%

4.8%

5.1%

$70,700

$41,200

$30,900

$80,800

$104,200

$46,700

$35,400

$93,600

$133,400

$60,200

$41,400

$111,700

60.6%

26.9%

20.3%

17.8%

$215,600

$170,100

$145,000

$113,700

$121,600

$92,300

$75,400

$55,700

$130,000

$159,400

$95,100

$82,100

$284,700

$198,300

$172,600

$131,000

$147,200

$120,500

$84,100

$64,300

$165,000

$222,000

$114,400

$107,000

$373,800

$268,800

$201,700

$189,900

$195,700

$143,600

$90,800

$73,000

$182,000

$279,400

$154,700

$124,700

103.0%

45.9%

30.2%

22.2%

21.4%

20.4%

20.8%

11.9%

15.2%

54.6%

18.2%

19.0%

$257,600

$247,000

$369,000

$317,200

$488,300

$411,900

121.2%

112.8%

$203,200

$132,600

$89,900

$266,300

$169,000

$107,600

$356,000

$202,000

$131,500

79.6%

38.7%

27.2%

$217,600

$175,800

$270,600

$243,800

$380,900

$309,800

62.0%

55.2%

Residential Positions

Asset Management

Top Asset Management Executive

Senior Asset Management Executive

Portfolio Manager

Senior Asset Manager

Asset Manager

Property Management

Top Property Mgmt. Executive

Vice President Property Management

Regional Property Manager

Senior Property Manager

On-Site Community Mgr. I (450 units)

Assistant Property Manager

On-Site Administrator

Resident Services Manager

Concierge

Operations Analyst

Operations Director/Manager

Regional/Portfolio Maintenance Engineer

Maintenance Supervisor/Lead Engineer

Maintenance Engineer/Technician II (mid-level)

Maintenance Engineer/Technician I (entry-level)

Make Ready Maintenance Tech

Groundskeeper/Porter

Housekeeper/Custodian/Janitorial

Leasing

Senior Leasing Executive

Leasing Manager

Typical Leasing Agent/Representative

Regional Marketing Director/Manager

Development/Construction

Top Development Executive

Vice President/Director Development

Senior Development Manager

Development Manager

Senior Project Manager

Project Manager

Project Analyst

Project Administrator

Top Land Engineering Executive

Top Construction Executive

Construction Manager

Construction On-Site Manager

Retail Positions

Senior Executive

Top Division Executive

Top Regional Executive

Acquisitions

Top Acquisitions Executive

Acquisitions Director/Manager

Acquisitions Associate

Asset Management

Top Asset Management Executive

Senior Asset Management Executive

Please note that the compensation figures presented represent a composite of all companies participating in the 2020 CEL National Survey and are not stratified by

ownership/type of company (public vs. private), company size, product specialization, regional geographic location, or metropolitan area. Further, factors such as tenure,

experience, role and responsibility will impact compensation levels and benchmarks (percentiles) for the evaluation of any comparative situation, as will the financial situation of

a company and its investment and business strategy.

(1) High = 75th percentile, Median = 50th percentile, Low = 25th percentile.

Survey Completed 2Q 2020.

Source: CEL Associates, Inc./CEL Compensation Advisors, LLC (c) 2020 National Real Estate Compensation Survey - All Rights Reserved. Not to be referenced or

reproduced in any form without prior permission in writing: 12121 Wilshire Blvd., Suite 204, Los Angeles, CA 90025 Tel. (310) 571-3113, Fax. (310) 571-3117.

Page 3 of 4

2020 REAL ESTATE COMPENSATION SURVEY

All Companies - Consolidated Results

(1)

Base Salary Range

Position

Actual Bonus

As % of Salary

Low

Median

High

Average

$108,700

$124,400

$96,800

$134,800

$165,400

$123,400

$171,700

$210,500

$152,300

23.2%

27.2%

23.9%

$175,900

$149,100

$118,900

$105,200

$70,600

$79,300

$84,500

$86,700

$58,300

$101,000

$61,100

$92,800

$106,900

$70,300

$69,200

$52,100

$42,900

$219,200

$196,000

$149,200

$128,400

$90,400

$92,800

$103,900

$109,500

$68,000

$119,100

$85,500

$114,500

$122,400

$77,600

$86,800

$61,700

$49,000

$280,400

$234,600

$183,600

$153,100

$111,300

$110,000

$121,000

$141,600

$79,200

$140,000

$102,300

$145,700

$141,700

$96,700

$104,800

$72,400

$58,400

46.8%

36.3%

23.8%

17.3%

13.9%

11.0%

13.8%

15.6%

10.2%

13.3%

9.0%

14.9%

13.1%

7.6%

9.6%

6.1%

5.6%

$156,200

$121,100

$96,800

$62,900

$79,100

$235,600

$191,000

$123,400

$80,600

$103,800

$333,500

$251,700

$166,300

$122,500

$132,100

96.3%

82.1%

51.0%

59.7%

15.1%

$222,000

$184,800

$158,100

$128,900

$129,900

$98,000

$78,100

$66,800

$170,100

$120,400

$88,000

$289,600

$225,000

$188,600

$158,500

$159,900

$113,700

$86,300

$76,500

$238,300

$157,200

$108,100

$407,900

$271,400

$228,500

$203,400

$185,600

$138,900

$116,100

$90,200

$313,100

$187,600

$142,900

70.4%

49.2%

36.8%

27.5%

22.7%

15.7%

15.1%

14.2%

48.6%

25.6%

11.4%

$209,400

$84,100

$232,900

$160,000

$117,600

$131,000

$106,200

$225,000

$100,000

$283,400

$192,700

$144,600

$177,200

$131,400

$300,000

$130,600

$369,900

$243,600

$170,100

$213,100

$166,100

60.8%

27.7%

56.2%

35.7%

28.2%

41.5%

28.0%

$227,900

$138,900

$77,900

$185,000

$122,600

$57,400

$215,800

$268,700

$173,200

$97,200

$220,000

$139,800

$71,400

$247,500

$308,800

$218,700

$119,200

$262,500

$185,400

$87,300

$270,000

86.1%

45.3%

36.2%

48.3%

26.1%

9.7%

57.7%

Retail Positions

Portfolio Manager

Senior Asset Manager

Asset Manager

Property Management

Top Property Management Executive

Vice President Property Management

Regional Property Manager

Senior Property Manager

Property Manager I (500,000 sq.ft.)

Assistant Property Manager

Senior Facility Manager

Operations Analyst

Operations Director/Manager

Regional/Portfolio Maintenance Engineer

Building Engineer/Chief Engineer

Maintenance Supervisor/Lead Engineer

Maintenance Engineer/Technician II (mid-level)

Maintenance Engineer/Technician I (entry-level)

Leasing

Top Leasing Executive

Senior Leasing Executive

Leasing Manager

Typical Leasing Agent/Representative

Regional Marketing Director/Manager

Development/Construction

Top Development Executive

Vice President/Director Development

Senior Development Manager

Development Manager

Senior Project Manager

Project Manager

Project Analyst

Project Administrator

Top Construction Executive

Construction Manager

Construction On-Site Manager

Investment/Fund Mgt./Advisors Positions

Portfolio Management

Top Portfolio Management Executive

Investment Management Associate

Top Asset Management Executive

Senior Asset Management Executive

Director/Manager Portfolio Management

Senior Asset Manager

Asset Manager

Portfolio Management

Top Transactions Executive

Senior Transactions Manager

Investment/Transactions Associate

Top Acquisitions Executive

Acquisitions Director/Manager

Research Associate

Client Marketing Executive

Please note that the compensation figures presented represent a composite of all companies participating in the 2020 CEL National Survey and are not stratified by

ownership/type of company (public vs. private), company size, product specialization, regional geographic location, or metropolitan area. Further, factors such as tenure,

experience, role and responsibility will impact compensation levels and benchmarks (percentiles) for the evaluation of any comparative situation, as will the financial situation of

a company and its investment and business strategy.

(1) High = 75th percentile, Median = 50th percentile, Low = 25th percentile.

Survey Completed 2Q 2020.

Source: CEL Associates, Inc./CEL Compensation Advisors, LLC (c) 2020 National Real Estate Compensation Survey - All Rights Reserved. Not to be referenced or

reproduced in any form without prior permission in writing: 12121 Wilshire Blvd., Suite 204, Los Angeles, CA 90025 Tel. (310) 571-3113, Fax. (310) 571-3117.

Page 4 of 4

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