FROM THE PRESIDENT
DEREK AVERY | LEGACY PARTNERS
Metro Denver Apartment Industry Wages up 7.7 %
The Apartment Association has conducted a confidential industry compensation study every other year since 1999 , and now two years in a row . With team staffing and compensation being such a difficult issue to evaluate , the association conducted another survey just recently to help members prepare for their 2017 budgets .
This year ’ s survey pool included data from 1,942 apartment industry professionals who work in the Metro Denver area representing over 84,000 apartment units . The full report breaks down : average ( mean ) base salaries , bonuses , commissions , hourly wages , and total compensation for the following 15 on-site and 3 senior level off-site categories :
»»
Property / Community Manager : ( Broken down into 5 categories by size of property )
»»
Maintenance Supervisor ( Broken down into 5 categories by size of property )
»» Assistant Manager
»» Leasing Consultant
»» Maintenance Technician
»» Groundskeeper
»» Housekeeper
»»
Regional Manager : ( Broken down into 2 categories by size of portfolio )
»»
VP / Senior Management : ( Broken down into 2 categories by size of portfolio )
In addition to averages , the report includes the medians ( midpoint ), and several percentile benchmarks for each position . The report also highlights the overall changes from 2015 to 2016 , and in most cases includes historical data for 2011 , 2009 and 2007 . The report also compares base annual salary ( wages ) and total compensation including bonuses .
Average compensation changes range from -1.0 to + 13.5 % over the past year , but the overall average weighted increase is 7.7 %. The 7.7 % increase is weighted to reflect the appropriate number of team members in each category . For example housekeeper wages are up 13.5 %, but there are 1 / 5 the number of housekeepers versus maintenance techs in the survey , so a weighted average is used to avoid skewing the overall results . 7.7 % is a big jump from 2015 to 2016 in overall
2016 / 17
COMPENSATION REPORT
METRO DENVER MULTIFAMILY INDUSTRY
wages — it ’ s over three times the increase of the prior year , which was 2.4 %.
Below is summary data from all of the five maintenance supervisor categories combined . The average base salary is $ 48,381 . The average total annual compensation ( including bonuses and other pay ) is $ 55,618 . Again , the report breaks down the Maintenance Supervisor position into five different categories by unit count . The report also breaks down Community Managers by the same five categories ( less than 100 , 100-199 , 200- 299 , 300-499 , and 500 +).
To pre-order copy of the full report for $ 499 , or different sections starting at $ 49 , email Chris at cdean @ aamdhq . org .
|
PROPERTY SIZE
(# OF UNITS )
|
SUPERVISES
(# OF FULL TIME
EMPLOYEES )
|
ESTIMATED HOURLY WAGE |
MONTHLY BASE SALARY |
AVERAGE MONTHLY BONUS |
AVERAGE MONTHLY COMMISSION |
APARTMENT ALLOWANCE |
ANNUAL COMPENSATION |
** AVERAGE 281 2.85 $ 23.26 $ 4,032 $ 439 $ 249 $ 635 $ 55,618
75TH PERCENTILE
MEDIAN ( MIDPOINT )
25TH PERCENTILE
349 4.0 $ 25.09 $ 4,348 $ 456 $ 282 $ 880 $ 61,103
257 2.0 $ 22.98 $ 3,983 $ 330 $ 235 $ 448 $ 54,986
178 1.0 $ 21.00 $ 3,640 $ 243 $ 235 $ 297 $ 48,284
** Average and Median Compensation for all on-site maintenance supervisors ( five categories combined ). The report breaks down the data into several categories based upon property size ( units ).
6 | TRENDS • OCTOBER 2016 www . aamdhq . org