Real property. Real leadership.
2019
Canadian Real Estate Compensation Survey Results
112019 REALPAC Canadian Real Estate Compensation Survey
REALPAC (the Real Property Association of Canada) is pleased to present the 2019 REALPAC Canadian Real Estate Compensation Survey.
Sponsored by REALPAC and conducted by FPL Associates L.P., this survey is designed to provide real estate companies with competitive
compensation levels and current information regarding the design, features, and administration of compensation and benefits programs.
In addition, this year’s survey includes questions specific to fund managers as well as data with respect to diversity & inclusion.
In particular, this report provides information for three major facets of compensation for 175 positions commonly found in REALPAC
member organizations:
• Base salary (2019)
• Annual incentive award value (for calendar/fiscal year 2018)
• Long-term incentive award value (for calendar/fiscal year 2018)
We extend our sincere appreciation to all participating organizations for providing valuable information, which has enabled us to perform
a comprehensive examination of compensation within the Canadian real estate industry.
Fifty-five organizations participated in this year’s survey, reflective of a 51% response rate.
Sincerely,
Kristopher Kolenc Jeremy I. Banoff Lindsay Pankratz
Manager, Research & Sustainability Vice Chairman Survey Director
REALPAC FPL Associates L.P. FPL Associates L.P.
2019 REALPAC Canadian Real Estate Compensation Survey
2 2019 REALPAC Canadian Real Estate Compensation Survey
Below is a list of all 55 participants in this year’s survey.
Alberta Investment Management Corporation (AIMCo)
Altus Group
Amica Senior Lifestyles
Artis REIT
Aspen Properties
Automotive Properties REIT
BentallGreenOak
Brookfield Properties
Cadillac Fairview Corporation Limited, The
Canadian Urban Limited
CanFirst Capital Management
CBRE Ltd.
Choice Properties REIT
Colliers International Inc.
Cominar REIT
Concert Properties Ltd.
CreateTO
Crestpoint Real Estate Investments Ltd.
Crombie REIT
Crown Realty Partners
CT REIT
Cushman & Wakefield
Dorsay Development Corporation
Dream
EPIC Investment Services
Fengate Real Asset Investments
First Capital Realty Inc.
GWL Realty Advisors
Hines Interests LP
Homestead Land Holdings Ltd.
InterRent REIT/CLV Group
Ivanhoé Cambridge
JLL Real Estate Services Canada Inc.
Killam Apartment REIT
LaSalle Investment Management
Manulife Financial
Menkes Development Ltd.
Minto Group, The
Morguard Corporation
Nicola Wealth
Northview Apartment REIT
NorthWest Healthcare Properties REIT
Oxford Properties Group Inc.
Primaris
Pure Industrial Real Estate Trust (PIRET)
QuadReal Property Group
Realstar Group
RioCan REIT
Sienna Senior Living
SmartCentres REIT/Penguin Investments Inc.
Strathallen Capital Corporation
Triovest Realty Advisors Inc.
WPT Industrial REIT
Participating Companies
332019 REALPAC Canadian Real Estate Compensation Survey
Diversified/
Combined*
58%
Retail
14%
Office and
Industrial
11%
Multi-Family
Residential
11%Health Care
4%Seniors
Residential
2%
Participant Demographics
These charts illustrate the composition of this year’s
participants by primary property focus and company size,
defined as number of full-time employees and total revenues.
A wide representation of real estate firms in terms of property
focus and size are included in this survey, allowing for a
comprehensive examination into overall market practices.
Property Sector
Number Of Employees
Total Revenues
*Diversified/Combined (three or more asset types)
Less Than
150
Employees
31%
150 - 499
Employees
25%
500 - 1,000
Employees
22%
Greater
Than 1,000
Employees
22%
Participating Companies
Less Than
$250
Mill ion
49%
$250
Mill ion or
Greater
51%
4 2019 REALPAC Canadian Real Estate Compensation Survey
Executive Management PositionsChief Executive Officer/President
Chief Operating Officer
Chief Financial Officer
Chief Accounting Officer
General Counsel
Chief Information Officer
Chief Investment Officer
Senior Management PositionsExecutive/Senior Vice-President
Division or Subsidiary President
Regional/Business Unit Manager
Head of Internal Audit
Head of Human Resources
Corporate Controller
Corporate Treasurer
Head of New Business/Development
Corporate Services Positions - AccountingDivision Controller
Assistant Controller
Accounting Manager
Senior Accountant
Staff Accountant
Accounting Clerk
Accounts Receivable/Accounts Payable Supervisor
Accounts Receivable/Accounts Payable Professional
Junior Accounts Receivable/Accounts Payable Professional
Corporate Services Positions - AdministrationBusiness Process Improvement
Office Manager
Executive Assistant I (C-Suite)
Executive Assistant II (Non-C-Suite)
Administrative Assistant
Receptionist
Corporate Services Positions - Audit and Tax Internal Auditor
Senior Corporate Tax Executive
Tax Manager
Tax Professional
Director of Financial Reporting
Financial Reporting Manager
Corporate Services Positions - Communications Communications Professional
Designer
Corporate Services Positions - Customer Service Customer Service Manager
Customer Service Supervisor
Customer Service Representative
Corporate Services Positions - FinanceVP, Finance
Mid-Level Finance Professional
Financial Analyst
Corporate Services Positions - Human Resources Human Resources Director
Human Resources Manager
Human Resources Generalist
Human Resources Coordinator
Training & Development Professional
Recruitment Professional
Compensation & Benefits Professional
HRIS Manager
HRIS Analyst
Corporate Services Positions - LegalSenior Legal Counsel
Staff Lawyer
Senior Paralegal
Paralegal
Compensation Table of Contents
Compensation by Position
552019 REALPAC Canadian Real Estate Compensation Survey
Corporate Services Positions - MarketingHead of Marketing
Senior-Level Marketing Professional
Mid-Level Marketing Professional
Junior-Level Marketing Professional
Social Media Professional
Market Research Analyst
Corporate Services Positions - Payroll Payroll Manager
Payroll Supervisor
Payroll & Benefits Administrator
Payroll Specialist
Corporate Services Positions - Purchasing Purchaser/Buyer
Corporate Services Positions - ResearchHead of Research
Senior-Level Research Professional
Mid-Level Research Professional
Analyst - Research Professional
Corporate Services Positions - Risk Management Senior-Level Risk Management Professional
Mid-Level Risk Management Professional
Junior-Level Risk Management Professional
Corporate Services Positions - Technology Senior-Level IT Professional
Mid-Level IT Professional
Junior-Level IT Professional
IT Project Manager
Senior-Level Data Management Professional
Infrastructure Development Professional
Mid-Level Applications Development Professional
Web Development Professional
Database Administration Specialist
Help Desk Professional
Corporate Services Positions – Technology (continued) Network Administrator
Information Security Professional
Asset/Property Management Software Manager
Information Technology Director
Mid-Level MIS/IT Professional
Junior-Level MIS/IT Professional
Real Estate Positions – Accounting Portfolio/Fund Senior Accountant – Portfolio/Fund
Staff Accountant – Portfolio/Fund
Real Estate Positions - Architecture, Engineering &
EnvironmentChief Architect/Designer
Chief Engineer
Building Engineer
Architectural Technician/Designer
Environmental Specialist
Corporate & Social Responsibility Leader
Corporate & Social Responsibility Professional
Corporate & Social Responsibility Analyst/Sustainability
Real Estate Positions - Asset ManagementHead of Asset Management
Senior-Level Asset Management Professional
Mid-Level Asset Management Professional
Associate - Asset Management Professional
Analyst - Asset Management Professional
Real Estate Positions - Building Ops/Facilities MgmtTop Facilities Management Professional
Head of Building Ops./Facilities Mgmt.
Senior-Level Building Ops./Facilities Mgmt. Professional
Mid-Level Building Ops./Facilities Mgmt. Professional
Building Operations Supervisor
Senior Building/Maintenance Operator
Building/Maintenance Operator I
Building/Maintenance Operator II
Compensation by Position
6 2019 REALPAC Canadian Real Estate Compensation Survey
Real Estate Positions - Building Ops/Facilities
Mgmt (continued)Building Superintendent
General Facilities/Maintenance Employee I
General Facilities/Maintenance Employee II
General Facilities/Custodial Employee
Real Estate Positions – Construction/Proj. MgmtHead of Construction
Senior-Level Construction/Project Manager
Mid-Level Construction/Project Manager
Junior-Level Construction/Project Manager
Project Coordinator
Tenant Project Manager
Construction Estimator
Real Estate Positions - DevelopmentHead of Development
Senior-Level Development Professional
Mid-Level Development Professional
Junior-Level Development Professional
Real Estate Positions - InvestmentsSenior-Level Investment Professional
Mid-Level Investment Professional
Junior-Level Investment Professional
Real Estate Positions - Leasing and AdministrationHead of Leasing
Senior-Level Leasing Professional
Mid-Level Leasing Professional
Junior-Level Leasing Professional
Manager of Lease Administration
Specialty Leasing
Lease Administrator
Real Estate Positions - Portfolio ManagementHead of Portfolio Management
Senior-Level Portfolio Management Professional
Mid-Level Portfolio Management Professional
Analyst - Portfolio Management
Real Estate Positions - Promotions Marketing/Promotions Director
Marketing/Promotions Manager
Real Estate Positions - Property AccountingProperty Controller
Property Accounting Manager
Senior-Level Property Accountant
Property Accountant
Junior-Level Property Accountant
Revenue Coordinator
Real Estate Positions - Property Management Head of Property Management
Senior-Level Property Management Professional (Sq. Ft. Over 1.5M)
Mid-Level Property Management Professional (Sq. Ft. 1-1.5M)
Senior Property Manager (Sq. Ft. 500,000-1M)
Property Manager (Sq. Ft. Up to 500,000)
General Manager
Assistant Property Manager
Senior Property Administrator
Property Administrator
Real Estate Positions - Property TaxProperty Tax Professional
Real Estate Positions - SecuritySecurity Director
Security & Life/Safety Manager
Security & Life/Safety Supervisor
Security & Life/Safety Coordinator
Security & Life/Safety Officer
Real Estate Positions - Tenant ServicesTenant Client Services Manager
Tenant Client Services Coordinator
Concierge
Client Services Professional
Compensation by Position
772019 REALPAC Canadian Real Estate Compensation Survey
Real Estate Positions - TransactionsHead of Transactions
Senior-Level Transactions Professional
Mid-Level Transactions Professional
Associate - Transactions Professional
Analyst - Transactions Professional
Compensation by Position
8 2019 REALPAC Canadian Real Estate Compensation Survey
Real Estate Positions - Construction/Project Management
Alternate
Title(s)
Typical Years of
Experience
Typically
Report To
Portfolio
Description
Relevant Asset
Class(es)
Typical
Education
Project MangerMinimum of
5-10
Hd. of Const.,
Hd. of Dev.Small, Sub
MF, Off., Ind.,
Ret.University
Responses
# of
Companies
25th
PercentileMedian Average
75th
Percentile
25th
PercentileMedian Average
75th
Percentile
Aggregate 33 $85,507 $99,531 $98,648 $109,129 $91,400 $111,250 $110,720 $122,812
2019 Nareit Aggregate 51 $129,815 $168,760 $170,039 $201,524 $147,554 $203,424 $201,581 $237,105
Diversified/Combined 21 $86,389 $99,531 $101,646 $109,129 $93,619 $111,911 $113,436 $125,893
Multi-Family Residential 2 ISD ISD ISD ISD ISD ISD ISD ISD
Office and Industrial 3 ISD ISD ISD ISD ISD ISD ISD ISD
Retail 5 $86,438 $101,099 $103,310 $121,288 $93,243 $109,020 $114,749 $139,120
Less than $250 Mil l ion 12 $83,281 $88,884 $96,174 $111,458 $89,886 $96,882 $105,272 $121,631
$250 Mil lion or Greater 21 $86,389 $101,099 $100,062 $109,129 $94,613 $113,776 $113,833 $125,893
Alberta 12 $96,810 $107,968 $110,561 $127,266 $102,839 $117,985 $123,455 $148,578
Atlantic Canada 5 $64,875 $84,574 $80,318 $93,634 $69,089 $88,850 $88,582 $107,942
British Columbia 10 $87,937 $102,750 $104,475 $123,750 $91,341 $109,000 $116,406 $139,506
Manitoba 1 ISD ISD ISD ISD ISD ISD ISD ISD
Ontario 28 $86,273 $98,627 $100,031 $110,462 $92,128 $114,113 $112,607 $124,724
Quebec 12 $82,895 $93,421 $96,633 $112,060 $89,344 $103,077 $109,603 $137,708
Saskatchewan 2 ISD ISD ISD ISD ISD ISD ISD ISD
Less than 150 4 ISD ISD ISD ISD ISD ISD ISD ISD
150 - 499 8 $86,655 $99,903 $104,391 $124,447 $95,327 $110,466 $117,717 $146,421
500 - 1,000 10 $81,036 $104,104 $95,083 $110,975 $81,718 $116,092 $102,688 $121,323
Greater than 1,000 11 $84,872 $86,668 $95,696 $108,636 $91,800 $97,526 $111,940 $136,665
25th Percentile Median Average 75th Percentile
10% 12% 13% 15%
Mid-Level Construction/Project Manager
Responsible for construction activities on smaller projects or sub-projects within larger projects. Ensures construction meets standards and time frames within cost estimates. Responsible
for project plan, is involved in contract negotiations and has day-to-day on-site responsibility for project progress. Must be famil iar with codes, municipal by-laws, inspection, estimating
and planning typically gained through prior experience or a specific designation.
Base Salary Total Annual Cash Compensation
Target Annual Incentive (% of Base Salary) -
Calendar/Fiscal Year 2019
Ass
et C
lass
Tota
l
Rev
enu
es
$13,906
Geo
grap
hic
Lo
cati
on
Nu
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er
of
Full-
Tim
e
Em
plo
yee
s
Annual Incentive Award
Calendar/Fiscal Year 2018
Average
Compensation by Position
992019 REALPAC Canadian Real Estate Compensation Survey
Real Estate Positions - Construction/Project Management
Average %
Promoted in
2018
Male
Percent
Female
Percent
Average Tenure
in Years
Average Number
of Direct
Reports
4% 70% 30% 6 -
Responses
# of LTI
Receivers
25th
PercentileMedian Average
75th
Percentile
25th
PercentileMedian Average
75th
Percentile
Aggregate 1 ISD ISD ISD ISD $91,400 $111,250 $110,747 $122,812
2019 Nareit Aggregate 22 $19,523 $29,266 $33,270 $45,435 $147,554 $203,424 $213,321 $253,747
Diversified/Combined - ISD ISD ISD ISD $93,619 $111,911 $113,436 $125,893
Multi-Family Residential - ISD ISD ISD ISD ISD ISD ISD ISD
Office and Industrial - ISD ISD ISD ISD ISD ISD ISD ISD
Retail 1 ISD ISD ISD ISD $93,599 $109,184 $114,925 $139,120
Less than $250 Mil l ion - ISD ISD ISD ISD $89,886 $96,882 $105,272 $121,631
$250 Mil lion or Greater 1 ISD ISD ISD ISD $94,613 $113,776 $113,875 $125,893
Alberta - ISD ISD ISD ISD $102,839 $117,985 $123,455 $148,578
Atlantic Canada - ISD ISD ISD ISD $69,089 $88,850 $88,582 $107,942
British Columbia - ISD ISD ISD ISD $91,341 $109,000 $116,406 $139,506
Manitoba - ISD ISD ISD ISD ISD ISD ISD ISD
Ontario 1 ISD ISD ISD ISD $92,128 $114,113 $112,669 $124,724
Quebec - ISD ISD ISD ISD $89,344 $103,077 $109,603 $137,708
Saskatchewan - ISD ISD ISD ISD ISD ISD ISD ISD
Less than 150 - ISD ISD ISD ISD ISD ISD ISD ISD
150 - 499 1 ISD ISD ISD ISD $95,505 $110,547 $117,827 $146,421
500 - 1,000 - ISD ISD ISD ISD $81,718 $116,092 $102,688 $121,323
Greater than 1,000 - ISD ISD ISD ISD $91,800 $97,526 $111,940 $136,665
25th Percentile Median Average 75th Percentile
ISD ISD ISD ISD
Mid-Level Construction/Project Manager
Responsible for construction activities on smaller projects or sub-projects within larger projects. Ensures construction meets standards and time frames within cost estimates. Responsible
for project plan, is involved in contract negotiations and has day-to-day on-site responsibility for project progress. Must be famil iar with codes, municipal by-laws, inspection, estimating
and planning typically gained through prior experience or a specific designation.
Job Description Degree of Match
Long-Term Incentive Award Total Remuneration
Ass
et C
lass
Tota
l
Rev
enu
es
Average Target Long-Term Incentive -
Calendar/Fiscal Year 201998%
Geo
grap
hic
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cati
on
Nu
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er
of
Full-
Tim
e
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plo
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s
Compensation by Position
77 King St W TD North TowerSuite 4030 PO Box 147Toronto ON M5K 1H1Canada
123 North Wacker DriveSuite 1900Chicago, Illinois 60606USA
t 416.642.2700 tf 1.855.REALPAC (732.5722)w realpac.ca
t 312.368.5088 w fplassociates.com