FROM THE PRESIDENT
DEREK AVERY | LEGACY PARTNERS
Metro Denver Apartment Industry Wages up 7.7 %
The Apartment Association has conducted a confidential industry compensation study every other year since 1999, and now two years in a row. With team staffing and compensation being such a difficult issue to evaluate, the association conducted another survey just recently to help members prepare for their 2017 budgets.
This year’ s survey pool included data from 1,942 apartment industry professionals who work in the Metro Denver area representing over 84,000 apartment units. The full report breaks down: average( mean) base salaries, bonuses, commissions, hourly wages, and total compensation for the following 15 on-site and 3 senior level off-site categories:
»»
Property / Community Manager:( Broken down into 5 categories by size of property)
»»
Maintenance Supervisor( Broken down into 5 categories by size of property)
»» Assistant Manager
»» Leasing Consultant
»» Maintenance Technician
»» Groundskeeper
»» Housekeeper
»»
Regional Manager:( Broken down into 2 categories by size of portfolio)
»»
VP / Senior Management:( Broken down into 2 categories by size of portfolio)
In addition to averages, the report includes the medians( midpoint), and several percentile benchmarks for each position. The report also highlights the overall changes from 2015 to 2016, and in most cases includes historical data for 2011, 2009 and 2007. The report also compares base annual salary( wages) and total compensation including bonuses.
Average compensation changes range from-1.0 to + 13.5 % over the past year, but the overall average weighted increase is 7.7 %. The 7.7 % increase is weighted to reflect the appropriate number of team members in each category. For example housekeeper wages are up 13.5 %, but there are 1 / 5 the number of housekeepers versus maintenance techs in the survey, so a weighted average is used to avoid skewing the overall results. 7.7 % is a big jump from 2015 to 2016 in overall
2016 / 17
COMPENSATION REPORT
METRO DENVER MULTIFAMILY INDUSTRY
wages— it’ s over three times the increase of the prior year, which was 2.4 %.
Below is summary data from all of the five maintenance supervisor categories combined. The average base salary is $ 48,381. The average total annual compensation( including bonuses and other pay) is $ 55,618. Again, the report breaks down the Maintenance Supervisor position into five different categories by unit count. The report also breaks down Community Managers by the same five categories( less than 100, 100-199, 200- 299, 300-499, and 500 +).
To pre-order copy of the full report for $ 499, or different sections starting at $ 49, email Chris at cdean @ aamdhq. org.
|
PROPERTY SIZE
(# OF UNITS)
|
SUPERVISES
(# OF FULL TIME
EMPLOYEES)
|
ESTIMATED HOURLY WAGE |
MONTHLY BASE SALARY |
AVERAGE MONTHLY BONUS |
AVERAGE MONTHLY COMMISSION |
APARTMENT ALLOWANCE |
ANNUAL COMPENSATION |
** AVERAGE 281 2.85 $ 23.26 $ 4,032 $ 439 $ 249 $ 635 $ 55,618
75TH PERCENTILE
MEDIAN( MIDPOINT)
25TH PERCENTILE
349 4.0 $ 25.09 $ 4,348 $ 456 $ 282 $ 880 $ 61,103
257 2.0 $ 22.98 $ 3,983 $ 330 $ 235 $ 448 $ 54,986
178 1.0 $ 21.00 $ 3,640 $ 243 $ 235 $ 297 $ 48,284
** Average and Median Compensation for all on-site maintenance supervisors( five categories combined). The report breaks down the data into several categories based upon property size( units).
6 | TRENDS • OCTOBER 2016 www. aamdhq. org