Student Housing Business

JUL-AUG 2018

Student Housing Business is the voice of the student housing industry.

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SALARY SURVEY July/August 2018 StudentHousingBusiness.com 78 Compensation Continues To Flatten With many owners shifting to buy-and-hold philosophy, salaries are down for development roles. Compiled by Josh Logelin, Managing Director, Specialty Consultants, Inc. T Talent acquisition and retention in the student housing sector has become paramount for many owners. With industry growth at strong levels, many companies have put forth a large effort into attracting new employ- ees, with and without industry experience. Over the past few years, however, the industry has stabilized and fewer senior executive moves have occurred. SHB partnered with Specialty Consultants, Inc. (SCI), to produce the 2018 Student Housing Industry Compensation Survey. SCI sent an e-mail invitation and a link to an online survey form to over 500 senior executives at student housing industry firms requesting 2017 salary and incentive information for their companies. This was followed up with telephone calls requesting participation and a reminder e-mail. Additionally, the survey was sent to approximately 3,500 professionals representing a cross-section of the positions covered in the survey. The survey was also open to readers of studenthousingbusiness.com via a banner advertisement and participation was also encouraged through a sponsored post on LinkedIn that appeared in major student housing- oriented groups. The resulting information was compiled and analyzed to produce a statistical abstract of annual compensation categorized by company size (number of beds owned/operated). This year's survey set another record for participation. Average compensation increases for the positions covered in the survey was 4.2 percent, slightly better than in 2016 but essentially a continua- tion of the flattening we have seen in recent years. The survey may also be reflecting a shift in strategy from new development to a buy-and- hold, value-add approach: compensation for Development/Construc- tion increased by only 1.2 percent (largely due to decreased bonuses) while Acquisitions/Asset Management compensation rose by 9.1 percent. C-Suite and Property Management positions were middle of the pack, with professionals in those roles garnering 3.1 percent and 2.1 percent increases, respectively. From the perspective of company size, firms in the < 2,500 Beds Owned/Managed category saw the greatest average increase (5.0 percent), followed by > 7,500 Beds Owned/Managed (4.0 percent) and 2,500-7,500 Beds Owned/Managed (3.4 percent). Base Salary Bonus Total Compensation Low High Mean Median Low High Mean Median Low High Mean Median Chief Executive Officer 123,600 775,000 333,200 300,000 0 1,545,000 326,000 115,400 190,600 1,668,600 659,200 400,000 Chief Operating Officer/VP of Operations 125,000 350,000 232,500 215,000 0 450,000 140,600 100,000 190,000 800,000 373,100 325,000 Chief Financial Officer/VP of Finance 98,000 410,000 245,900 250,000 0 450,000 116,800 90,000 98,000 850,000 363,800 340,000 VP/Director of Human Resources 66,000 220,000 156,300 170,000 0 110,000 53,400 46,400 66,000 299,000 209,700 225,000 Regional VP/VP of Property Management 75,000 225,000 146,000 147,300 0 176,000 35,800 28,000 75,000 321,000 181,800 188,300 Regional Property Manager 56,000 142,000 95,200 96,000 0 50,000 22,200 20,000 56,000 182,200 117,500 115,400 Property Manager 35,000 115,000 66,700 67,000 0 42,000 10,800 9,800 35,000 115,000 66,700 67,000 VP/Director of Marketing/Leasing 55,000 240,000 128,200 128,800 0 81,000 23,900 18,800 60,000 260,000 152,100 161,200 Marketing/Leasing Manager 30,000 65,000 45,000 43,500 0 20,000 5,400 3,500 31,000 74,000 50,300 51,000 VP/Director of Acquisitions 92,000 390,000 183,900 144,200 0 515,000 132,400 83,400 123,600 905,000 316,300 251,300 Acquisitions Associate/Analyst 53,000 105,000 74,100 70,000 0 110,000 19,500 10,700 63,600 202,700 93,600 81,200 VP/Director of Asset Management 84,000 425,000 196,000 200,000 0 290,000 71,000 54,200 93,000 715,000 267,000 250,000 Asset Manager 58,000 125,000 88,400 89,000 0 120,000 26,800 17,000 62,000 212,700 115,300 113,300 VP/Director of Development 88,000 268,000 173,400 177,500 0 600,000 96,000 53,300 103,000 746,800 269,400 246,200 Development Manager 60,000 148,500 106,400 118,500 0 250,000 29,000 15,500 60,000 375,000 135,400 130,000 VP/Director of Construction 98,000 200,000 179,900 195,700 0 210,000 52,300 37,100 108,000 410,000 232,200 227,600 Construction Manager 50,000 140,000 98,300 100,000 0 25,000 12,500 12,300 55,000 155,000 110,700 120,000 > 7,500 Beds

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