Businesses Recognising Strategic Importance of Managing Real Estate Portfolios and Workplace Strategies
SINGAPORE and HONG KONG, March 14, 2014 /PRNewswire/ -- In a recent survey of corporate real estate executives at large corporations globally, 76 percent reported that their base salary increased from 2012 to 2013, and 79 percent projected further increases in 2014. The average increase in base salary from 2012 to 2013 was 6 percent, according to a survey conducted by CoreNet Global and FPL Associates.
Focusing in on respondents in Asia, the survey found that on average, the regional head of corporate real estate in Asia receive 18% higher salaries than those in Europe. However, Asia is still lagging behind the U.S.; where those in the corporate real estate profession receive on average 5% more than those in the equivalent roles in Asia.
These results are timely for corporate real estate executives in Asia Pacific as CoreNet Global prepares to host the 2014 CoreNet Global Asia Pacific Summit in Singapore between 25 and 27 March 2014 at the Shangri-La Hotel. The foremost corporate real estate (CRE) Summit will attract around 500 attendees from the corporate real estate space across Asia and will look at the increasing relevance and value-add of corporate real estate strategy for businesses throughout the region.
With globalization and the 'West to East' trend prompting multinationals to expand or establish offices and HQs in APAC cities such as Singapore, Hong Kong, and Shanghai, corporate real estate is fast becoming a key consideration for business leaders and strategists in the region.
"As the workplace, human resources and information technology become further entwined, corporate real estate continues to evolve into a more strategic corporate function," said Angela Cain, Chief Executive Officer of CoreNet Global. "That evolution, in addition to the economic recovery, is resulting in higher pay for a vast majority of corporate real estate and asset managers, as reflected in our survey."
Survey Methodology
In the third quarter of 2013, FPL Associates worked with CoreNet Global to develop a questionnaire for the purpose of gathering compensation information relevant to internal CRE organization employees in the current market. The questionnaire included a number of questions that have become standard to the CoreNet Global Compensation Survey, to allow for comparisons to prior years' studies and to identify trends.
For this year's survey, 291 end user members provided thorough responses, classifying them as participants. FPL gathered all of the responses, clarified additional information, as needed, from participants, and then analyzed the data to develop this summary report.
