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Salary Surveys

Once again, it gives me great pleasure to present the key findings for the 2018 RICS and Macdonald & Company Rewards and Attitudes Survey. The annual survey remains the benchmark survey of remuneration and attitudes across the UK property industry with almost seven thousand respondents. With the demographic of respondents similar to the 2017 survey the results offer a robust comparison to last year.

Looking at some key findings, 65% received a salary increase of an average of 6.3%, similar to the past three years. Surprisingly only 4.3% of those who received an increase did so as a result of an annual salary review,  whereas 23.4% received an increase having attempted to resign or having found another job. It’s notable that 41% of those working for consultancy/advisors are likely to move jobs in the next twelve months with 74% citing salary as being the principal reason for the move.

Overall, the sentiment in the industry is at its lowest level for three years with only 28% believing that activity will increase in their sector in the next twelve months. By way of comparison, in 2016, 51% believed activity would increase. A number of key factors have had particular impact on sentiment with the increase in interest rates combined with the prospect of more to follow, the moribund residential market in London and the increased prospect of a hard Brexit all worth mentioning. The sectors that appear most confident are private equity, industrial agents, those in construction and Quantity Surveyors. Correspondingly the most pessimistic sectors are property finance, regeneration and rating.

Would you like to know more?
Macdonald & Company provides bespoke salary and remuneration benchmarking reports to clients worldwide. In conjunction with our research partners we are able to provide valuable data segmented and analysed to suit individual businesses, locations and specific needs.

Peter Moore MRICS, Managing Director, Macdonald & Company.
March 2018

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