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2010 EXECUTIVE SUMMARY Introduction


Now in its eleventh year, the annual RICS and Macdonald & Company Rewards & Attitudes Survey is the most comprehensive survey undertaken for the property sector.


The survey continues the success of earlier surveys, 8,477 UK surveying professionals participated online in December 2009 and January 2010, making this the largest and most comprehensive survey of its type in the industry. Thanks this year as always must go to Property Week and RICS who actively promoted involvement in the survey amongst their readership/members. We would also like to thank all the participants who took time to complete the questionnaire.


Besides statistics on current salaries, recent salary increases, bonuses and employment package benefits, the results give insight into wider issues that are important to professionals in their role and their attitudes toward employment. This executive summary sets out the key findings of the survey.


Further analysis and information are available from Macdonald & Company. Foreword


2009 was arguably the hardest year for commercial property for two decades. The UK market has suffered significant falls in capital value and confidence hit rock bottom; property professionals have suffered correspondingly. The results of this survey, now in its eleventh year, accurately chart the fortunes of the property profession. Many have suffered pay reductions and the majority pay freezes. Those in the consultancy and practice sector having fared the worst so far, now pressure on the government’s finances makes those in the public sector very pessimistic about the prospects for 2010. Fair numbers of professionals remain out of work and whilst estimates vary, it appears approaching 70% of graduates from last year remain without vocational work. A small but hopeful change in certain sectors of the market occurred in the last quarter of 2009 with noticeably more recruitment activity taking place.


The demand for asset managers, property managers and facilities managers has increased as investors actively seek to maximise return and mitigate tenant default and voids. The demand for analytical skills has increased too, as investors seek opportunities in the depressed market. A noticeable trend is developing of forward thinking employers hiring in key areas and taking what is probably a unique opportunity to commence new business areas and bolster existing teams. A key to business advantage in the next phase of the market is exploiting those opportunities now.


The trend referred to above is echoed in the survey with, overall, 38% of the respondents expecting some form increase in economic activity as compared to only 13% last year. However, the majority of those surveyed expect that activity will remain at the current level for the next twelve months.


If you require any further information or analysis of the survey or of the current trends in the market please do not hesitate to contact me or any member of my team.


Peter Moore MRICS, Managing Director, Macdonald & Company


For further information or analysis please contact: E: salarysurvey@macdonaldandcompany.com or call one of our UK offices.


A full report and an online statistics package for the 2010 survey are available at a cost of £599 + VAT. In addition to the UK, Macdonald & Company & RICS undertake remuneration and attitudes surveys for the following regions: Middle East, Asia Pacific, Africa and Europe. All reports are available at www.macdonaldandcompany.com


For the second year, the results have been collated and analysed by BluSky Research (a research trading name of BluSky Marketing Limited – www.bluskymarketing.com).


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