MANY property businesses are using higher pay increases to attract and retain staff amid “significant movement” of key talent.
The latest Avdiev Property Remuneration Report shows remuneration in the property industry has grown by an average of 4% – ahead of the 3% increase the year before – with one-third of companies increasing pay by more than 6%, well ahead of the general workforce of 2.6%.
Real estate valuers saw the smallest increase in pay, at 2.5%, while property funds managers saw a 5.2% increase and retirement living and aged care village managers 5.0%. Senior property development managers bagged a 4.8% increase. Continue to find out the top 3 highest property paid jobs.
Position : Property Fund Manager < $1b FUM National Median March 2022 : $310,500 Median % Increase for last reviews to September 2022 : 5.2
Position : Senior Development Manager National Median March 2022 : $257,650 Median % Increase for last reviews to September 2022 : 4.8
Position : Village manager National Median March 2022 : $107,3000 Median % Increase for last reviews to September 2022 : 5.0
Meanwhile, a survey of Australian university graduates shows the gender pay gap between male and female graduates has more than doubled during COVID. Male graduates are earning an average of $5,700 per year more than women in 2022, wider than the $2,400 gap in 2019. Three years after graduating, there are major salary gaps in architecture ($12,600, or 15%), nursing ($6,300, or 7.6%) and engineering ($6,000, or 6.5%). The median full-time salary for medium-term graduates was $84,000 for men and $78,300 for women.