Property pay increases on the up, but gender pay gap widens

Property pay increases on the up, but gender pay gap widens

Salaries for property professionals remained robust in 2017, according to the latest survey by RICS & Macdonald & Company, but the gender pay gap has increased from last year.

Male property professionals earn, on average, £11,000 more than female counterparts, up from £7,000 in 2016.

The gap is evident across the majority of age groups and is greatest for those aged 46–55, where the difference in average salary is 25.7%.

Encouragingly, the gender pay gap is now less evident in those starting out in property with females earning slightly more than males, a turnaround from last year where the pay gap was most evident in 18–22 year olds.


Of those who received a pay rise in 2017 in the industry, the average increase was 7.7% - far above UK-wage inflation, which sits at 2.7%. Additionally, 32% believe that their pay and benefits will be positively affected by market conditions over the next 12 months.

The survey recorded the average salary in 2017 as £52,362. While this is a 4.5% decrease compared to 2016, this may be largely explained by changes in the demographics of the survey this time around. Respondents with 10 years’ experience or fewer rose by 9% (from 31% to 40%), while those with 16 years’ experience or more fell 10% (from 56% to 46%).

Respondents working in Greater London continue to earn the highest average salary (£61,141) and command a premium of 15.5% over the South East, and 41.0% over Northern Ireland/Republic of Ireland. The majority of regions have seen a decrease, but East Anglia (+3.4%), South West/Wales (+2.6%) and Northern Ireland/Republic of Ireland (+1.4%) buck this trend with growth in average wages.

More positively, over half of respondents (53%) believe their organisation will increase headcount in 2017. 47% of respondents expect their organisation to modestly increase headcount, while 6% expect a significant increase in headcount in 2017.

Sarah Speirs, RICS Director, UK Communications and External Affairs, commented: "While it is encouraging that those entering the sector are now seeing pay equality, the fact that the pay gap has widened overall is disheartening. The industry has started to take action, but must maintain this momentum to create a more balanced workforce that attracts the best talent if it wants to remain competitive.

"As organisations look set to increase headcount in 2017, promoting the diversity of careers in surveying will help ensure that our profession is fit and relevant for the future."

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Latest Comments

MBM Homelets
MBM Homelets 23 Mar 2017

Although this is a very positive step, there is little or no guarantee of the standard of workmanship employed by the tenants. We have had experience of a professionally decorated property being ' painted'...

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ajay
ajay 21 Mar 2017

How is the "robust evidence" looking now?

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NathanG
NathanG 20 Mar 2017

I've been watching the series so far and am completely baffled by the cases that were presented. Though, I don't think that we can protect ourselves from every scam possible - it will just make the scammers...

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Landlady14
Landlady14 01 Mar 2017

You would think so Niraj Shah! My experience only proves that there are varying qualitiers of professional in all aspects of property letting. None of the ones I have dealt with, from letting agents to...

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Mark
Mark 01 Mar 2017

Thanks for this article. Hopefully one day everybody's lifestyle will be eco-sustainable.

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Ben Taylor
Ben Taylor 28 Feb 2017

I was convinced that London was the most expensive!

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Alan Read
Alan Read 28 Feb 2017

Australia are leading the way in this I think. The trouble with Britain is we don't get enough sun to make use of solar power.

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James Powell
James Powell 27 Feb 2017

This is a very good news.

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DanHumphreys
DanHumphreys 27 Feb 2017

It sounds like a good idea. Anything to help the younger generation get a foothold.

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Matt
Matt 20 Feb 2017

Is this fake news?

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Matthew Hollywood
Matthew Hollywood 07 Feb 2017

Matthew Hollywood - Director Mishon Mackay Land & New Homes - Brighton The shortage of New Homes is in part effected by the lack of land sales. Land sales are held back because there is a disparity between...

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CommercialTrust
CommercialTrust 30 Jan 2017

Hi Graham, Would be interesting to see the above figure calculated against an investment via a Lt Company /SPV structure and if the investor found themselves pushed in to the higher tax bracket. Mortgage...

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