Best Paying Jobs in Real Estate Investment Trusts
Those looking to break into the REIT industry will find a wide range of positions available. What are the best paying jobs in real estate investment trusts is usually the first question. The second is how can I get a job at a real estate investment trust? How much pay can you expect for roles in this industry, and what qualifications do you need?
This guide will explain some of the most lucrative real estate investment trust job opportunities. A global view of the REIT industry will be given, along with a glimpse into the future job market for REITs.
First, let’s take a look at the REIT industry and how it works if you are unfamiliar.
What are Real Estate Investment Trusts (REITs)
REIT stands for real estate investment trust, and it can either be a public or private company that invests in real estate assets that have the potential to produce income. REIT can own many properties, including apartment buildings, offices, hotels, resorts, plaza centers, etc. REITs have employees who handle the day-to-day operations necessary to maintain and manage their properties.
Investments in private REITs are not available to the public because they are held and operated by shareholders. Stock exchanges list public REITs and make them available for trading. The REIT has various jobs, which are vital to the company’s operation and success.
Highest Paying Jobs In REITs
The following table provides ranges on the best paying jobs in real estate investment trusts below.
The data above shows that REIT management positions are among the highest paid. The average asset manager and REIT portfolio manager earns over six figures, whereas the average high-end manager makes over $250,000. A closer look at each role will give you a better idea of the qualifications, job description, and compensation.
Job Types in REITs
Those who are interested in getting into the REIT industry can choose from a variety of jobs available. They all require different skill sets, qualifications, and pay scales. Check it out.
Responsibilities: An asset manager at a REIT company manages a certain portion of the company’s assets. The majority of large REIT companies employ multiple asset managers, each of whom manages a different real estate area or property type owned by the company. Asset managers manage hundreds of properties simultaneously, and in many cases, they oversee them simultaneously. While managing the REIT’s portfolio, they strategize on how to improve performance by acquiring, selling, and acquiring commercial properties.
- Management degree with a four-year program
- Master of Bussiness Administration
- Experience managing real estate for 5-10 years
Salary Potential: If the firm’s bonus structure is generous, asset management salaries may vary widely. A moderately experienced asset manager’s base salary is usually $150k, while a senior asset manager’s salary can range from $250k to $ 350k. Those asset managers who hit their targets, however, might be able to earn much more as bonuses.
REIT Portfolio Manager
Responsibilities: The responsibilities of asset managers and portfolio managers of REITs have many similarities. The roles and responsibilities of asset managers and REIT portfolio managers tend to be very similar, even though they are generally higher on the corporate ladder. A portfolio manager oversees the operations of a single property or a specific region and communicates directly with those in charge of the property’s day-to-day operations.
Their responsibilities would include managing large real estate management properties and organizing important documents related to them. REIT portfolio managers tend to be more client-oriented and know more about the intricacies of their holdings.
- A four-year degree specializing in investment analysis and property management
- A master’s degree is preferred but not always required
- Experience managing real estate for 5-10 years
Salary Potential: REIT portfolio managers’ salary potential will depend on their previous experiences and the company’s bonus policy. It is estimated that most REIT portfolio managers earn an average of between 125k and 225k per year.
Responsibilities: The task of a property developer is to find and develop real estate and plan its use. There are many things a land developer needs to know, including zoning, economic trends, contract work, and more.
The responsibility of property developers working for REITs is to oversee the development of a target territory and ensure everything runs as planned. The purpose of their work is to construct new neighborhoods, condos, hotels, high-rise towers, and more.
- A four-year construction management degree
- A solid understanding of how to build and manage projects
There can be a wide variation in property developer salaries across different states. Property developers earn a median salary of around 115k and as much as 200k. Even more, money can be made if you own a property development company.
Real Estate Attorney
Responsibilities: Having a busy schedule as a REIT staff attorney can be very challenging. Developers, loan providers, landowners, renters, shareholders, and more work with them on various real estate transactions. A real estate attorney reviews important documents and agreements about a property deal to verify that everyone understands their rights and responsibilities. Real estate investment is extremely important for this type of trust and must be meticulous.
- Degree in law
- Practicing real estate law and contract law
Salary Potential: Real estate attorneys earn various salaries depending on the transactions they handle. This type of job typically pays between 115k and 185k.
Responsibilities: A real estate acquisition specialist identifies and reviews real estate deals for portfolio managers and asset managers. During the acquisition phase, the acquisitions manager searches for real estate deals that fit the REIT’s investment philosophy. The position is unique and well suited to those with good interpersonal skills. Finding unique ways to acquire deals requires an appetite for searching for them.
- Business degree of four years
- Some cases require a real estate license
Salary Potential: Acquisition specialists are usually paid between 40-50k on a base salary and receive a lucrative bonus structure along with the base salary.
This bonus structure is set up as a percentage of the total amount of the acquisition deal. Firms can charge between 1-5% of the purchase price depending on their business model. The salary range for acquisition specialists can range from 110k to 175k per year. In contrast, commercial real estate offers much higher earnings potential.
Real Estate Agent
Responsibilities: As an agent, you serve the needs of both buyers and sellers when dealing with real estate. Buyers use them to find homes for their lives and investments. Property owners can also sell and market their residences through real estate agents. Occasionally, real estate agents provide acquisition assistance to REITs. Besides finding deals on and off the MLS, they assist buyers and sellers in completing their transactions. People-oriented and caring are key qualities for this job.
- Your state’s real estate license is active
- Expertise in sales
Salary Potential: Real estate agents mostly rely on commissions as a source of income in order to maintain their lifestyles. Their salaries are not paid by the firm where they work. Several elements determine the earnings of real estate agents. According to an estimate, most real estate agents earn between 60k and 500k per year. Those earning substantial amounts will be in a good location to sell higher-end properties.
Real Estate Investment Trust Analyst
Responsibilities: It is the responsibility of REIT analysts to evaluate new deals that enter the pipeline. They analyze its underlying value to assess whether a deal aligns with the REIT’s investment philosophy. In addition to ensuring that the deal comes with few risks, analysts will ensure that it is profitable for the company.
A REIT analyst should be proficient in running complex financial analyses and carrying out due diligence before entering a deal.
- Bachelor’s degree in business management with a focus on finance
- Experienced investment analyst with an MBA preferred
Salary Potential: The salary range for analysts can range from 80-125k, depending on the state you live. Analysts may also receive bonuses from some firms.
Responsibilities: There is a great need for REIT accountants. Assuring the company’s financial standing through audits and consolidations of financial statements is their responsibility. Data and activity related to the company’s finances are gathered, compiled, and analyzed.
- University degree of four years
- Prefer CPAs
- QuickBooks and ADP experience
Salary Potential: It is common for accountants to earn between $75k and 125k annually. The salary range above is higher for accountants with a CPA designation.
REIT Tax Specialist
Responsibilities: Despite sounding like a boring job, a real estate investment trust tax specialist is highly sought-after and often pays very well. It is essential that candidates understand the tax codes governing real estate. A tax specialist can also help portfolio managers save money by consulting on how to minimize tax on deals.
- Degree of four years
- Masters of Business Administration
- Certifications in CPA and tax law
Salary Potential: REIT tax specialists have a pay structure that is similar to REIT accountants. At the top of the salary range, the salary can be upwards of 125k on an annual basis.
Real Estate Property Appraisers
Responsibilities: An appraiser’s responsibility is accurately to determine the real estate’s market value. Fair market value is given to residential and commercial properties using these estimators. The appraisal involves examining the property’s conditions, sales comps, amenities, and neighborhood information. An appraiser helps make investment decisions more accurate by helping financial advisors and portfolio managers value deals.
- Having real estate experience
- License for appraisals
Salary Potential: There are some REITs that hire in-house property appraisers, and there are some that hire independent real estate appraisers. You can expect a basic salary of 65k to 100k for working as an evaluator under a REIT. In contrast, independent appraisers have the opportunity to earn much more because they set their rates. Clearly, this is not one of the best paying jobs in real estate investment trusts.
The Popular and Lucrative Investment of REITs
It’s clear that having a job for a REIT offers endless career opportunities. In addition, they have gained much popularity among investors looking for steady returns. Several unique advantages are available to investors: steady dividend yields, high liquidity, tax advantages, and a low correlation between stock market performance and dividends.
Final Verdict on Best Paying Jobs in REITs
So there you have it, the best paying jobs in real estate investment trusts. The REIT field continues to grow and offers a great chance for those interested in real estate and looking to pursue a career in the area. The best way to decide if this field is for you is to look into your interests and strengths before you decide to take the plunge and apply for a job in it.