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2010 EXECUTIVE SUMMARY

Introduction

Now in only its second year, the Annual South Africa Property Market, Salary, Rewards & Attitudes survey is the most comprehensive survey undertaken for the property sector.

The survey continues the success of last years survey, with 1,363 South African property professionals participating online in January and February 2010, making this the largest and most comprehensive survey of its type in the industry.

Thanks this year as always must go to Broll Properties who actively promoted their involvement in the survey within the property sector. 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.

Foreword

Although 2009 has proved unprecedented times for the global property industry, and the world economy as a whole, it seems that the South African property sector has fared better than many other regions. ‘Real salaries’ have increased by 9.1% - which is comparable only to Asia which benefited from 6% growth. Europe seems to be the worst affected in the regions we cover, reporting a decrease in ‘real salaries’ of 2.8%

Despite the climate, the job market has not and will not grind to a halt. Currently, opportunities are emphasised toward critical hires and jobs with those organisations taking the opportunity to “up skill” or expand teams that have suffered long term skill shortages and consequent pay inflation, which are now moderating.

The results of the survey are clear: growth in the number of respondents receiving no change in salary, bonuses have also been affected; benefits packages are being cut to save costs. However, there are reasons to be cheerful, the property industry is a sector that is happy in other ways with 51% saying they are “Very satisfied” in their current role, up 6% from last year. While 64% believe that economic activity will improve in the next 12 months.

Overall it is evident that the industry is pulling together in the face of adversity whilst at the same time accepting that responsibility, career progression and leadership are more important than ever.

Julie Teague | Autumn 2010

International Director | Macdonald & Company Recruitment (Proprietary) Limited

salarysurvey@macdonaldandcompany.com or call our South African office.

An online statistics package for the 2010 survey is available at a cost of R4,500. In addition to the South Africa Property Market Salary, Rewards & Attitudes Survey, Macdonald & Company undertake remuneration and attitudes surveys for the following regions: UK, Middle East, Asia, 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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