Qualified members of the Royal Institution of Chartered Surveyors (RICS) earn between 8%-35% more than non-chartered property-professionals, according to the RICS and Macdonald & Company European Salary & Benefits Survey, published today. The survey, presented at Expo Real in Munich, reveals a significant salary gap between RICS members and their non-qualified counterparts.
Chartered surveyors working in France could expect to draw the highest salaries, followed by Scandinavia, Germany, Austria and Switzerland, with property professionals in Southern Europe earning the least. The residential property sector offered the highest average earnings, just ahead of those working in fund management and property finance.
Chartered surveyors just beginning their careers, aged 26 to 30 years, can expect to earn on average 59,200 per year as compared with non-qualified property professionals who earn on average 44,900 per annum.
The highest salary increases were reported by those working in Central and Eastern Europe, followed by the Nordic countries, with rises of 13.5% and 10.9% respectively. The commercial and investment sectors were the two areas benefiting from the biggest increases.
70% of respondents received a bonus in the last twelve months, with the average amount being 21,010, representing 27% of the average salary.
"Having a range of interesting work" was quoted as one of the most important aspects of job satisfaction, with over 80% of respondents expressing contentment with their present employer. Nearly two-thirds of respondents anticipated a growth in their profession's economic activity over the coming year.
Liliane Van Cauwenbergh, Director, RICS Europe, said: "For the first time we have available one of the most informative and complete reports on trends in property remuneration across Europe. With insights into the wider issues that are important to all property professionals and attitudes towards employment, the survey clearly confirms that being a member of RICS offers clear benefits to those willing to develop their knowledge and expertise."
Robert Cottrell, Senior Consultant, Macdonald & Company, comments: "There is little doubt that taking the time to qualify as a chartered surveyor is of great value for an individual's future in the profession. There are a large number of vacancies where being a qualified chartered surveyor is a pre-requisite. Our report today proves that the RICS qualification brings rewards in the form of better career opportunities and earning potential."
In total, 911 surveying professionals from across Europe participated in the survey to provide an independent comprehensive picture of current salary trends, bonuses and employment package benefits, covering all sectors of business and all levels of employment.
Click here to read the full report (PDF).
Source: RICS Europe