An overview of the current market:
Demand for surveyors and project managers has remained strong throughout 2024, with building surveyors and valuation surveyors continuing to be in highest demand. We have seen a resurgence in the residential surveying market over the past 3-6 months, an area that was particularly affected last year.
Overall salaries have increased slightly, with our report showing 7 in 10 professionals received a pay rise in the last 12 months. The average pay increase was 7%.
Those moving to a new employer typically benefitted from the highest increase, followed by professionals becoming chartered, or gaining promotion.
Salary remains the most important factor when looking for a new role, once again followed by flexible hours, hybrid working and location. Clearly employers continue to take note of this, as almost 70% of respondents said they have to be in the office 1-2 days a week or less. This aligns with the overall satisfaction of most respondents with their work/life balance.
We know in other sectors there is a push for full-time office working, but only 9% of respondents have to be in the office 5 days a week, and I don’t believe this will increase significantly over the next year.
Once again additional benefits (such as private healthcare, enhanced pensions, enhanced annual leave) ranked low in terms of priority when candidates look for new roles. We know that these perks do have a place in helping with recruitment and retention, but clearly there are other things employers should place more emphasis on.
Bonuses are often a contentious subject, and the market is split almost 50/50 with those that receive one and those that don’t. For respondents who receive bonuses, the vast majority (76%) receive non-discretionary bonuses. I think we might see a shift to more companies starting to offer non-discretionary/fee-target based bonuses over the coming few years.
Given the continued skill shortage the outlook across surveying and project management remains positive, and I expect salaries to continue moving forward again next year.
PLEASE EMAIL andy@pp-recruitment.com to get your full copy of our 2024 Property & Surveying Salary Survey Report
Andrew Lambert
Director
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