Earnings of real estate executives in Asia fell 21.4% last year, contributing to a 3.8% average salary fall among Asian property professionals in general, although salaries in Malaysia rose 11%
Senior executive salaries in Asia’s real estate industry have dropped by more than one-fifth on average in the last year, a new survey shows.
In contrast, Malaysia real estate professionals have had the highest annual salary increases of 11%, but received the lowest average earnings, according to the Asia Rewards & Attitudes Survey 2014 from the RICS (Royal Institution of Chartered Surveyors) and Macdonald & Company.
Driven down by a 21.4% decrease in Executive Director/ Managing Director/ Chief Financial Officer/ Chief Operating Officer level salaries, average earnings of real estate professionals across Asia fell 3.4% to around US$96,087 (HK$749,479).
However, more than half of respondents (55.8%) received a10% rise in base salary, on average, the eighth annual survey suggests.
Salary increases in Hong Kong averaged 9.2%, in Singapore 9% and in China at 7%. But professionals in China still enjoy the highest average salary per annum, around US$138,400 (HK$1,079,520) compared with around US$125,580 (HK$979,524) in Singapore, around US$98,929 (HK$771,646) in Hong Kong and around US$71,804 (HK$560,071) in Malaysia.
Those with an RICS qualification earned a salary …read more