Property market on knees – but surveyor job satisfaction rises

In 2008, only 47% of respondents said job security was important to them – rising to 71% during the economic downturn. Management style is important to 64% of respondents, up from 48% in 2008 and the working environment is important to 56% in 2009 up from 46% in 2008.

Interestingly, 83% of Chartered Surveyors believed that they worked for their employer of choice, indicating that there remained a large degree of job satisfaction within the profession.

Only 58% of respondents reported a salary increase, down from 75% in 2008 but of those who did receive increases average salaries rose from 7.5% in 2008 to 7.9% in 2009. Fewer than half of respondents did not receive bonuses during the last 12 months (58% in 2009 to 41% in 2008). Those who did receive bonuses pocketed on average £5596 – down by approximately 5% compared to 2008.

Despite the economic downturn, some sectors have continued to thrive. The development investment property sector, not for profit, and central and local government saw reasonable average salaries increases. In contrast financial services saw the biggest drop in annual earnings with a fall of £10,000 to £52,300 in 2009.

Chartered Surveyors working within Greater London and the South East continue to earn above the UK average (£43,726) and more than their counterparts in the South West, Wales and Scotland.

RICS members continue to earn far more than their non-chartered counterparts, especially in the early stages of their career, making the qualification increasingly of interest to young graduates.

The average salary of RICS Members (MRICS and FRICS) is £49,400 – 51% higher than non-Chartered surveyors who averaged £32,728. Average salaries of RICS members tend to be particularly higher than their non-chartered counterparts at the earlier stages of their career with members aged 23-26 years earning 31% more than their non-RICS counterparts (£31,795 versus £24,290) and those aged 36-45 years, earning salaries 36% higher (£56,382 versus £41,412).

Sean Tompkins, RICS Chief Operating Officer said: "In tough times, professionalism stands out even more and it is clear that the marketplace recognises the value of being professionally qualified as a Chartered Surveyor by the significant salary differential it has been willing to pay. We see this trend globally and are confident the market will continue offering a reward premium for professionally-qualified individuals. 

"It is also encouraging to see that, compared to the property market downturn of the 90s; graduate recruitment is still taking place, albeit at reduced numbers. Trainees are being encouraged and rewarded to continue on their path to achieving a highly-regarded professional qualification. The marketplace looks better prepared for more encouraging times and should hopefully avoid the depths of the professional skills shortage that has been evident during much of this millennium and which was partly as a result of how the market reacted in the 90s."

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