Real Estate Asset Manager Salary
Job Description for Real Estate Asset Manager
Real estate asset managers leads a team of analysts and colleagues to optimize the company’s handling real estate assets. They work extensively with property management and residential development personnel on all issues related to their organization's assets. Generally speaking, this position is considered a supervisory job with staff underneath the manager that require training and guidance. Day-to-day tasks consist of meetings about strategies, planning for future projects, and assessment of current properties. Regular communication with lawyers, managers, architects, brokers, construction foremen, and others is required in this role.Read More...
Real estate asset managers' work environments vary, as some travel to clients and partners may be required; generally, these professionals work in an office environment during regular business hours. Overtime may occur during time-sensitive projects that require additional work. Individuals in this position report directly to management, with exact details dependent upon the company’s hierarchy.
Educational requirements for this position generally include master’s degree in business administration (MBA), although equivalent work experience may be accepted in lieu of an MBA. Extensive experience in related positions is required as well. Other necessary skills include asset management, attention to detail, strategic planning, and creative thinking. Real estate asset managers must also work well on their own with minimal supervision, as well as in a team setting.
Real Estate Asset Manager Tasks
- Assess options and opportunities to maximize return on real estate investments.
- Locate prospective sites, negotiate contracts, provide lease abstracts and develop a proposed budget for real estate assets.
- Manage real estate assets held in trusts, estates, and agency accounts.
Real Estate Asset Manager Job Listings
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Popular Skills for Real Estate Asset Manager
Real Estate Asset Managers report using a wide range of professional skills. Most notably, skills in Financial Analysis, Project Management, Real Estate, and Property Management are correlated to pay that is above average. Those listing Operations Management as a skill should be prepared for drastically lower pay. Microsoft Excel and Property Management also typically command lower compensation. Those educated in Financial Analysis tend to be well versed in Project Management.
Pay by Experience Level for Real Estate Asset Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many Real Estate Asset Managers, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Although individuals who have less than five years' experience earn $64K on average, people with five to 10 years benefit from a notably larger average of $83K. Real Estate Asset Managers claiming one to two decades of experience make an estimated median of $94K. Individuals who report more than two decades of experience seem to make only slightly more than folks in the 10-to-20 year range; the more senior group sees median earnings in the comparatively modest ballpark of $97K.
Pay Difference by Location
San Francisco offers some of the highest pay in the country for Real Estate Asset Managers, 110 percent above the national average. Real Estate Asset Managers will also find cushy salaries in Orlando (+51 percent), Washington (+24 percent), Philadelphia (+20 percent), and Seattle (+19 percent). Real Estate Asset Managers in Richmond make 38 percent less than the national average, proving that location is a major factor in pay. Minneapolis and Indianapolis are a couple other places where companies are known to pay below the median — salaries are 12 percent lower and 9 percent lower, respectively.
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Key Stats for Real Estate Asset Manager
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