Apartment Trends Magazine September 2014 | Page 23

W H E R E

T O

$TART

Some Numbers to Look at When You
Hire Your New Team Members
In an increasingly competitive environment for
new talent, it’s critical to know general compensation rates, especially in relationship to the property size and the number of direct reports for
managers. A position overseeing 450 apartment
units and seven employees is going to be compensated more than a position overseeing 150 units
and two employees. A new employee with little
experience shouldn’t exactly earn top dollar, while
an experienced crackerjack with a strong performance record will obviously command a much
higher compensation package over the “average”.
The AAMD Compensation Report shows,
compares and breaks down compensation from
many perspectives, but two key benchmarks are

total compensation (base + incentive pay) at the
75% and 25% thresholds. First, the compensation
point where 75% of the employees make at least
this amount (in a specific job category); and secondly, the amount where only 25% of the employees make at least this amount. These two benchmarks go beyond the standard average and provide
more insight about the compensation range.
For example, a Property Manager’s Total Compensation, at a property with 200-299 units, makes
on average $62,613. The high of $91,600 and the
low of $41,260 are interesting, but it illustrates a
whopping $50,000 range between the top and
bottom. The high/low points are often head
scratchers with likely unusual circumstances. They
don’t really help, other than to show the extremes.

Responsibility Analysis Analysis
Responsibility

For more relevant data: 75% of the Managers
at this unit count make at least $58,000, and the
Top 25% made at least $68,000. Keep in mind
these are TOTAL comp figures including incentives,
bonuses, base pay and sometimes apartments. These
75% and 25% benchmarks might help distinguish
what a fairly new (or recently promoted) manager
might command versus someone with a deeper skill
base and experience.
The report shows different staff sizes which a
managers supervises for a variety of different property sizes. This is shown below for Property Managers and Maintenance Supervisors… along with
the 75% and 25% total compensation amounts.

Regional ManagerRegional Ma
Maintenance Supervisor
Maintenance Supervisor

Property ManagerProperty Manager

< 1,800 Units:
< 1,800 Units:
5.8 Properties • 31.2 Employees
5.8 Properties • P
9.2 3
75%: $36,000

<100 Units:

2.1 Employees

<100 Units:

2.1 Employees

75%: $40,000 Units:

<100
25%: $50,000
0.4 Employees

<100 Units:

0.4 Employees

100-199 Units:
2.5 Employees

100-199 Units:
2.5 Employees

75%: $48,000 Units:
100-199
25%: $57,000
1.1 Employee

100-199 Units:
1.1 Employee

75%: $40,000
25%: $46,000

200-299 Units:

5.1 Employees

200-299 Units:

5.1 Employees

200-299
75%: $58,000 Units:

25%: $67,000
2.2 Employees

200-299 Units:

2.2 Employees

75%: $43,000
25%: $51,000

300-499 Units:

7.3 Employees

300-499 Units:

7.3 Employees

300-499
75%: $62,000 Units:

3.5 Employees
25%: $75,000

300-499 Units:

3.5 Employees

75%: $48,000
25%: $59,000

> 500 Units:
12.3 Employees

> 500 Units:
12.3 Employees

75%: $81,000 Units:
> 500
25%: $90,000
6.4 Employees

> 500 Units:
6.4 Employees

75%: $58,000
25%: $68,000

Assistant Manager

Leasing Professional

75%: $39,000
75%: $31,000
Vice 25%: $51,000 President / 25%: Executive
President / Senior Executive Senior $42,000
Vice
< 3,500 Units:
66 Employees

12 Properties

www.aamdhq.org
> 3,500 Units:

< 3,500 Units:
66 Employees

75%: 75% of the employees make at least this amount
12 Properties

> 3,500 Units:

Maintenance Tech
75%:
25%:

$31,000
$37,000

25%: $44,000

Housekeeper
75%:
25%:

$23,000
$29,000

| 25%: 25% of the employees make at least this amount

SEPTEMBER 2014 • TRENDS | 21