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Qualifications in Real Estate

Becoming qualified and joining professional memberships is on the rise in the Real Estate and Built Environment industries. We compare the average salaries for the most popular bodies in each region, as well as average salaries for those with a degree and MBA.

 

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In sponsorship with The Royal Institute of Chartered Surveyors.

 

Key Qualification Findings

34%

believe having a qualification has advanced their career

1 in 10

are considering studying for a vocational qualification in the next 12 months since Covid-19

39%

Salary increase for RICS qualified professionals vs. their non-qualified colleagues

Average salaries by popular qualifications, annual / monthly

MBA's equal higher pay for each region, with a trend for those with a CFA / Architectural qualification topping the charts.

Qualified verses unqualified average salaries by Region, annual / monthly

Apart from Europe and the Middle East, there is a clear hierarchy of average salaries by qualification type.

William Glover, Managing Director - Asia Pacific

Where it costs not to be qualified

Nowhere is it more apparent of the monetary benefits of being qualified than in Asia, namely Hong Kong. Not only do we see more MBA achievers than in Europe, but it is quite common for Real Estate professionals in Asia to have several professional memberships and vocational training on top of an MBA.

Average salaries in Hong Kong increase by 27% with an industry-related qualification and by a staggering 70% with an MBA.

Similarly, financial benefits can be seen in Singapore by qualification type, with an increased average of 20% and 49% for an industry qualification and MBA respectively.

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Average RICS Salaries by Region, annual / monthly

Expected salary increases for those who go on to qualify can see an average 30% increase in the UK / Europe and as much as 40% in Hong Kong.

Search a salary

London (£)

Median: Qualified 72500
Median: Part-Qualified 50000
Mean: Qualified 89290
Mean: Part-Qualified 80544

Outside London (£)

Median: Qualified 53000
Median: Part-Qualified 42000
Mean: Qualified 61441
Mean: Part-Qualified 44740

UK Average (£)

Median: Qualified 60000
Median: Part-Qualified 46750
Mean: Qualified 71214
Mean: Part-Qualified 57460

Hong Kong (HK $)

Median: Qualified 78000
Median: Part-Qualified 56000
Mean: Qualified 85918
Mean: Part-Qualified 63625

Singapore (S $)

Median: Qualified 15250
Median: Part-Qualified 16150
Mean: Qualified 13986
Mean: Part-Qualified 16000

Germany (€)

Median: Qualified 175000
Median: Part-Qualified 88500
Mean: Qualified 163818
Mean: Part-Qualified 89375

Europe Average (€)

Median: Qualified 115000
Median: Part-Qualified 88500
Mean: Qualified 120766
Mean: Part-Qualified 76598

UAE (AED)

Median: Qualified 40000
Mean: Qualified 42116

Middle East Average (AED)

Median: Qualified 38000
Mean: Qualified 40507

RICS Average Salary by Gender, annual / monthly

Reflecting wider average salaries, a gender pay gap exists among those in the UK and Europe that are RICS qualified.

Barry Cullen, Diversity Analyst - RICS

RICS Accreditation

2020 has been a year like no other. With significant challenges from a global pandemic, a change to the way that we work and increasing financial insecurity across global economies, it is sometimes difficult to look at pay in isolation to the experiences that professionals and firms have encountered. However, it is positive to see that professional standards and expertise still hold a valuable place and that being an RICS qualified professional continues to be recognised through being paid a higher salary.

It is also positive to see that despite these uncertainties there is little desire to move from the industry largely due to confidence in recovery taking place in 2021.

Whilst progress is being made in the difference between women and men in the industry in terms of pay disparity, it is unfortunate to see that women’s rates of pay are lower than the 2019 average for all qualified professionals.

We know that the pandemic has disproportionately affected women and minorities in terms of pay due to furlough and redundancy. This year, in building back from Covid-19, a reduction in the pay gap between men and women must be a priority within the industry.

Since the pandemic, are you considering a qualification in the next 12 months?

A third of respondents have considered going back to studying and training since the pandemic, with a sizeable proportion looking at a vocational qualification.

Is now the right time to study for a qualification? With 1 in 3 respondents considering so, it certainly seems the pandemic has encouraged self-improvement and further training. This shows a really positive sign of the commitment of those in the real estate sector.

Alex Moore, Director – London

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