Source: Media Outreach
Headline: RICS and Macdonald & Company released its 11th annual salary and benefits study, Result indicate young professionals are highly valued in Asia’s property sector
HONG KONG, CHINA – Media OutReach – 18October 2017 – RICS (Royal Institution ofChartered Surveyors) and Macdonald & Company released its 11th annualsalary and benefits study for the Asian property sector. The survey revealed thatthe age group between 25-30 years old received the largest average salaryincrease, as a result of employers being willing to offer attractivecompensation packages to young professionals. Furthermore, RICS-qualified respondentscontinue to enjoy higher base salaries than their non-qualified counterparts,marking the importance of obtaining a professional qualification, with theearnings gap landing at 12.4 per cent based on the survey results.
The property sector, one of the major industries in Hong Kong,and an increasingly important sector in mainland China, is experiencing animprovement in market sentiment, with 52 per cent of property managementrespondents and 49 per cent of facility management respondents believing thattheir pay and benefits will be positively affected by market conditions over thenext 12 months. The survey also revealed that real estate professionals nowconsider salary as the single most important job aspect, with 79 per cent ofall respondents stating that salary is their top priority, followed bymanagement style at 71 per cent, job security at 65 per cent and responsibilityat 63 per cent.
“Despite how theeconomy performs, these needs are always there,” said Mr Kenneth Kwan, board memberof the RICS Asia Pacific World Regional Board. “As such, the people working in property are always enjoying a relativelysecure job employment with steady progression in salary and position if theywork hard.”
Mr Clement Lau FRICS, Chair of RICS Hong Kong Board, said, “As the real estate industry in theAsia Pacific region continues to grow and prosper, we are pleased to see theremuneration of our young professionals can be benefited from such growth atthe same time.” He added, “We see more development needs in the future yearsdue to the Guangdong-Hong Kong-Macau Greater Bay Area initiatives and HK2030+,and suggest that government should set up more tertiary programmes related tosurveying as well as construction, and create more job opportunities for youngprofessionals.”
The job satisfaction rate among real estate professionsshowed a positive overall employee sentiment, with 82 per cent of respondents indicating that they are “fairly” or“very satisfied” with their current job.
About the RICSand Macdonald & Company Asia Salary & Benefits Survey 2017
Now in its eleventh year, the Annual RICSand Macdonald & Company Asia Salary & Benefits Survey is the most comprehensive survey onremuneration and benefits undertaken for the property sector. 1495 real estate industry professionals from acrossAsia region participated online between November 2016 and March 2017.Besides statistics on current salaries, recent salary increases, bonuses andemployment package benefits, the results give insight into wider issues thatare important to real estate professionals in their role and their attitudestoward employment. The full 2017 survey can be accessed at www.macdonaldandcompany.com.
Confidencethrough professional standards
RICS promotes and enforces the highestprofessional qualifications and standards in the development and management ofland, real estate, construction andinfrastructure. Our name promises the consistent delivery of standards —bringing confidence to the markets we serve.
We accredit 125,000 professionals and any individualor firm registered with RICS is subjectto our quality assurance. Their expertise covers property, asset valuation,real estate management; the development of infrastructure; and the managementof natural resources, such as mining, farmsand woodland. From environmental assessments and building controls tonegotiating land rights in an emerging economy; if our members are involved thesame professional standards and ethics apply.
We believe that standards underpin effectivemarkets. With up to seventy per cent ofthe world’s wealth bound up in land and real estate, our sector is vital toeconomic development, helping to support stable, sustainable investment andgrowth around the globe.
With offices covering the major political andfinancial centres of the world, ourmarket presence means we are ideally placed to influence policy and embedprofessional standards. We work at a cross-governmental level, deliveringinternational standards that will support a safe and vibrant marketplace in land, real estate, construction and infrastructure, for the benefit of all.
We are proud of our reputation and work hard toprotect it, so clients who work with an RICSprofessional can have confidence in the quality and ethics of the services theyreceive.
Published and distributed with permission of Media-Outreach.com.