Key Findings From the 2022-2023 Compensation Report
BY MARK WILLIAMS
BUDGETING
The Apartment Association of Metro Denver has conducted an industry compensation study every other year since 1999 . Compensation data was collected from 32 different management companies , and included specific data for 3,354 individual people who work in the Metro Denver apartment industry . The study included 569 different apartment communities , and 149,116 apartment units , which is 39 % of the entire metro Denver apartment inventory . The average community size was 263 units . Most of the management companies would be considered medium to large size , but there were some small management companies included in the data . There were over 54,000 pieces of data imputed into the survey and the final report will be available soon . The report is available for sale for $ 599 at www . aamdhq . org
Here are some key findings :
Compensation Increased 15.6 % In Two Years
Pay Increases Since 2020
+ 8.9 % Regional Manager + 11.3 % On Site Community Manager + 11.5 % Assistant Manager + 14.9 % Maintenance Supervisor + 15.1 % Housekeeper + 16.0 % Leasing Consultant + 19.0 % Groundskeeper + 19.9 % Maintenance Technician
In this year ’ s study , we found that there was an overall increase in compensation of 15.6 % since the last time we collected data two years ago . Annualized this would equate to 7.8 % increase per year . The increases ranged between 8.9 % to 19.9 % depending on the position .
Maintenance Positions Increased the Most
Of all of the industry positions surveyed , the Maintenance positions increased the most over the past 24 months . Maintenance Technician positions increased 19.9 %, while Maintenance Supervisors increased 14.9 % over the past 2 years . www . aamdhq . org OCTOBER 2022 TRENDS | 31