Despite the economic downturn caused by the COVID-19 pandemic, community association management remains in high demand, with the Bureau of Labor Statistics projecting a 3% growth in the profession through 2030. Job stability, career progression, and tremendous earning potential are frequently cited as the main benefits offered by community management.
The recently released 2021 Community Association Manager Compensation and Salary Survey report provides data on current earning potential and benefits for professionals in community management based on responses from more than 1,300 individuals. The 2021 edition is the seventh salary survey conducted by the Foundation for Community Association Research and serves as a valuable tool for benchmarking compensation for large-scale, high-rise, on-site, portfolio, and assistant managers, management company executives, and CEOs.
Results from the 2021 salary survey indicate that CEOs, management executives, high-rise managers, and large-scale managers all earn, on average, an annual salary of more than $100,000 per year, with large-scale managers earning the highest amount ($135,500). Bonus pay and annual salary increases also influence a management professional’s earning potential.
Information in 2021 Community Association Manager Compensation and Salary Survey represents the most comprehensive, accurate, and current data on compensation and benefit levels received by management professionals and is designed to allow a company or manager to compare their pay with peers.
In addition to basic profile and salary information for companies and managers, the survey features:
- Compensation outlooks.
- Compensation by job title, presented by regions and states.
- Compensation by job title for employees at large-scale communities, presented by regions and states.
- Salary differences between managers with and without professional credentials.
- Data based on community association size and management company size
- Information on employee benefits, health coverage, and retirement plans.
It’s important to note that the results from the salary survey should be considered a valid point of reference but not used in isolation from other information. Survey results are not the only—or even the primary—source for organizations to make compensation decisions. Many factors can determine compensation levels, including economic conditions, employer size, location, market position, and the individual manager’s experience, education, and performance. Similarly, there should be caution about comparing data in this report with previous years primarily because there is a different set of respondents.
The full report is proudly sponsored by The March Group. It is available for purchase as a digital book from CAI Press.
>>Find more resources about community association management from CAI and the Foundation at www.caionline.org/CAICareerCenter.
Excellent article, so very well done.
Are residents/owners in condo buildings able to get the individual salary of property managers (salary that we we pay) and staff of management office (including annual bonus)? Note: do not want the “package” deal of the management company.