While there are some signs of labour market pressures easing, property professionals are still getting better pay rises than most other sectors of the economy.
Property professionals in sought-after fields such as construction, architecture and funds management are securing plum job offers and above-average pay increases due to ongoing labour shortages, a new industry report has found.said they had trouble recruiting staff in these areas.
She said an established trend since the labour market tightened was “continuing expectations of higher pay from candidates with less experience”. A higher wage bill, combined with inflationary and debt pressures, have hit property companies’ bottom lines – only 52 per cent of respondents to the Avdiev survey said their company was faring “well” or “very well”, down from 63 per cent a year ago.
Mr Carter said pay increases of about 5 per cent in general were needed to retain staff, while its policies required staff to work in the office at least four days a week.While a lower proportion of companies surveyed reported doing “well” or “very well” compared with a year ago, Aspen Group is among those whose fortune is on the rise.
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