Overview
According to research conducted for the National Association of Real Estate Investment Trusts (Nareit), REITs will have helped sustain 3. 2 million jobs in the real estate industry in 2021. However, how much money can you expect to make working for a REIT? The highest paying REIT jobs are listed below.
Career decision-making is difficult unless you are one of the rare individuals who has a clear vision of what you want to do with your life.
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More people are entering the real estate industry as a result of the high job satisfaction rate and robust real estate market.
According to a study commissioned by the National Association of Real Estate Investment Trusts (Nareit), REITs will have helped sustain 3. 2 million jobs in the industry in 2021.
As the economy grows, more job openings will arise in the property management and development industries.
If you’re trying to decide between a career in real estate investment trusts and another field, I hope this article will help.
Best paying jobs in real estate investment trusts
Real estate broker
A real estate broker is a neutral third party who facilitates the buying and renting of property. They also offer direction and advice to help things go smoothly from start to finish. First, you’ll need to get your real estate license.
Real estate developer
New residential and commercial developments are the responsibility of real estate developers. They manage the project team including architects, cost estimators, and builders. One of the highest paying professions in REITs is real estate development.
Real estate attorneys
Lawyers who specialize in real estate law are the go-to guys for sound legal counsel and strong representation during property deals. A real estate lawyer’s main responsibilities are to review and edit legal documents and assist in the negotiation of contracts.
Real Estate Property Appraiser
An appraiser is a professional who evaluates the value of real estate. It can be either a home or a business. An asset’s worth can be estimated by considering its location, condition, and other features in relation to the current market.
You’ll need a license and to have completed and passed courses specifically for real estate appraisers if you want to work in that field.
Relevant coursework in economics, finance, real estate, and other related disciplines is required. If you’re looking for a high-paying corporate job, appraising is it, with an average annual salary of around $53,000.
Acquisition specialist
Investment opportunities for the REIT are researched, evaluated, and managed by acquisition specialists. Potential investments are discussed, and suggestions are made to the REIT’s management. When it comes to REITs, this is a top-tier position in terms of salary.
Financial analyst
Analyzing REITs’ historical performance, financial analysts then advise their client companies on how to enhance the profitability of their current real estate holdings. They also offer guidance on investment opportunities to the REIT management team.
Finance Manager
Those in charge of finance play a pivotal role in the department. They usually work on multiple projects at once and report directly to the CFO.
Forecasting, budgeting, and reporting on projects will take up the bulk of your time. They will coordinate closely with the builders to control costs.
Chief Executive Officer
The chief executive officer (CEO) usually receives the highest salary at a company.
But what exactly does a CEO do to warrant such a large salary? The reason is obvious: their decisions can affect the company’s entire future. The Chief Executive Officer (CEO) is the highest-paid employee in an organization and is responsible for making strategic decisions that affect not only the company’s performance but also that of each direct report.
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This is not an easy job, and only the most qualified individuals are selected for it. Chief Executive Officers in the REIT sector typically have worked in the field for at least 20 years. They are proven leaders who have risen through the ranks to assume responsibility in multiple divisions.
In a nutshell, being a CEO of an REIT is a high-stakes but highly remunerative endeavor. It calls for decisiveness, industry expertise, and leadership qualities. The rewards, however, are substantial for those who are up to the challenge.
Chief Operating Officer
The COO’s primary responsibility is to ensure the organization’s overall health and the success of any given project. The COO is responsible for many tasks, including team management, leading senior operators, and mentoring junior employees.
Their proficiency in management and organization guarantees that all tasks are completed on time and under budget. Because of this, those who have already made a name for themselves in this industry can expect to be courted for this type of position.
A Chief Operating Officer’s (COO’s) ability to think strategically and develop effective long-term plans is invaluable to any business.
Finance Manager
A career as a Finance Manager in an REIT can offer you high pay and security. The Finance Manager, who has studied finance in depth, is responsible for the proper administration of REIT investments and the timely and accurate reporting of project results.
They plan ahead, make budgets, and watch to make sure that developers aren’t going overboard with spending or spreading themselves too thin. Some of the most important projects within a REIT will involve a Finance Manager who reports directly to the CFO. They play a crucial role in any productive REIT group.
Property Manager
It’s possible to enjoy both personal and professional success by becoming a REIT Property Manager. There are no set requirements for this position, but a bachelor’s degree and relevant work experience will put you ahead of the pack.
Your responsibilities as a Property Manager will vary according to the type of real estate investment trust you work for.
Incomes in this field can range from $70,000 to $120,000 annually, depending on factors such as years of management experience and the amount of work being done.
Investment Analysts
Financial and acquisition teams are brought together by Investment Analysts. They’ll check to see that the information and studies for a new venture are useful, often offering their own opinions in addition to those of the higher-ups.
REIT Investor
An investor in a real estate investment trust (REIT) will be the impetus for both the purchase of new properties and the disposition of existing ones. They may also be tasked with maintaining and cultivating relationships with existing and potential investors in order to sustain project funding.
Head of Marketing
Senior Vice President of Marketing The REIT relies heavily on its marketing department to bring in new clients and capital. The marketing department, for instance, is in charge of luring in tenants and customers to a newly opened retail space. The bulk of the marketing efforts in this position are directed at other businesses, but there may also be some B2C initiatives.
Acquisition
Finding new investment opportunities and closing the deal constitutes an acquisition function in the real estate industry. Being good with numbers is a necessity in any acquisitions-related role, so be sure to study up.
To be considered for this role, you should have a background in business, marketing, finance, or the capital markets. An acquirer’s typical starting salary is around $80,000, with most having worked as analysts first.
The analyst career ladder begins with an associate position, continues on to a manager position, and ultimately culminates in a vice president position. The average salary for a vice president of acquisitions is around $200,000, though this can vary widely depending on the company.
Advises on Relations
The high salaries offered by real estate investment trusts (REITs) make public relations consultant the most sought after profession. For those with a lot of energy and drive, this is the ideal profession.
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Their duties include talking to new product developers and searching for ideas for new ventures.
Their duties include liaising with shareholders, compiling investment reports, and organizing groups for conferences and seminars.
Lawyer or Attorney
If a career in REITs interests you, you could also consider going to law school. This is because lawyers are able to put their knowledge to use in a wide variety of legal proceedings, including drafting loan agreements and real estate documents.
On behalf of their client, a real estate attorney handles all legal matters arising from the acquisition and management of real estate. Consequently, becoming a lawyer is a viable option for anyone looking to increase their income with a high-paying job in this field in the coming year.
FAQs
What is a Real Estate Investment Trust (REIT)?
Companies known as real estate investment trusts (REITs) own and manage a portfolio of income-generating properties on behalf of multiple investors. REITs are companies that allow investors to gain exposure to the cash flow generated by a portfolio of real estate.
Management teams of real estate investment trusts (REITs) oversee the investments, acquisitions, and ongoing profitability of their respective portfolios. Real estate investment trusts (REITs) provide investors with exposure to the real estate market without the need to make direct purchases of properties.
REITs are able to outbid ordinary real estate investors for larger properties because they are able to pool the capital of numerous investors. The returns may be greater than those from investing straight in real estate.
How Much Can You Earn Working For A REIT?
A career with a Real Estate Investment Trust (REIT) can provide excellent opportunities for advancement. Even though I’ve discussed the highest-paying REIT jobs here, the median annual salary for those working in the sector is still $75,000, with the top earners making over $100,000. Compared to the median wage in other fields, that’s extremely high. Jobs tend to pay less at smaller companies with lower profit margins and more at larger organizations with more complex job tasks.
How Many Real Estate Investment Trusts Are There in Total?
In the present day, there are literally thousands of REITs across the globe. They have a combined market cap of over $1.4 trillion and hold holdings across the country consisting of everything from strip malls to medical office buildings and data centers.
IBIS World predicts a 0.3% CAGR for the Real Estate Investment Trusts sector in the United States between 2017 and 2022.
There are more than 225 REITs listed with the SEC that trade on a major U.S. exchange like the New York Stock Exchange or Nasdaq. More than 1,100 REITs have filed tax returns with the IRS, and most of them are privately held.
Is Real Estate Investment Trusts a Good Career Path?
Real estate investment trusts (REITs) provide a special opportunity for people who want to invest in and manage property portfolios, but there are many other ways to make a living in the real estate industry.
REITs provide numerous benefits for those seeking to establish themselves in the real estate industry. Real estate investment trusts (REITs) can be a useful stepping stone to the field of real estate investing.
Working in a real estate investment trust can be a lucrative and fulfilling career choice, with high earning potential and access to some of the market’s most exciting real estate deals.
How to get a job at a REIT?
We recommend that you first pursue formal education because, as you can see, many positions call for it.
You should consider taking a junior position in a field of interest if you have a degree but no work experience.
You can get by without a degree if you’re willing to learn on the job, and many real estate investment trusts (REITs) will even foot the bill for your training if you’re willing to take on a position with them.
Although REITs do use traditional methods of job advertising, such as online job boards, recruiters are the most likely source for higher-paying positions.
Conclusion
There are no indications of a slowdown in the real estate market’s explosive growth. There will always be people looking for a place to rent, whether it’s a home for an individual or a workplace for a company.
Since its inception, real estate investment trusts have risen to manage the money invested by numerous investors. This is a genuine opportunity to grow your wealth, as the investment has a market value in the real world.
There are a wide variety of careers you can pursue in order to accumulate the funds necessary to purchase property, from appraiser to agent to analyst to attorney. The experience you gain while employed by a real estate investment trust will equip you with the skills you need to achieve your financial objectives.
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