50% of property professionals expect pay rise despite recession

A new study reveals that two thirds of property professionals expect a pay rise in the next 12 months, despite Coronavirus and the recession.

Of 1,100 professionals questioned in a survey, workers in the property sector scored well above the national average of 41.3 per cent anticipating a pay rise.  

This is despite the fact that employment consultancy CV-Library found that pay for property professionals actually dropped 1.3 per cent in the past year.  

On top of that, half of the property sector staff expect to achieve a promotion as well.

Consultancy chief executive Lee Biggins hints at a mismatch between expectations and reality, and says: “It’s understandable property professionals are looking to regain some of their lost income in the coming months, particularly if they’ve been placed on furlough. The coronavirus outbreak put the housing market on a standstill ... many businesses in the sector may struggle to make ends meet and be unable to offer an increase in pay.”

He continues: “The data clearly shows that property professionals still have a great deal of confidence in the job market, but understand that career progression may not be possible in the current climate. 

“While we are seeing an increase in the number of job opportunities available, job seekers may find that it takes longer than expected to find the perfect role. However, if you’re looking to hire, it’s imperative that you streamline your recruitment process and advertise your new roles effectively in order to attract new talent.”