The National Multifamily Housing Council has released the results of its 2020 National Multifamily Industry Compensation report, conducted in partnership with Willis Tower Watson Data Services, that addresses current market practices in compensation program design and salaries for more than 100 apartment industry positions. This year, more than 104 organizations participated in the survey to contribute data on 65,689 incumbent employees from across 186 geographic areas.
The average salary increase across all industry positions was 3.5% in 2019, according to the results of the survey, and the average typical housing discount offered to employees was 21%. A multi-site property manager in the Northeast region has the highest geographic differential for base salary compared with the national average at 109%, while the same position on the West Coast has a geographic differential of 105%.
The full survey includes data on short- and long-term incentives, cash bonuses, and annual increases; statistics on employee turnover, work/life policies, and prerequisites; and breakdowns at the national, regional, sub-regional, metro, and consolidated metro area levels.
Custom data reports are also available through CompOnline, an interative analytical platform provided through Willis Towers Watson Data Services.
The survey is available to purchase here.