Saturday, December 01, 2007

Survey: Starting Salaries Rise as Facility Managers Age

A salary survey conducted by the International Facility Management Association (IFMA) and Building Operating Management magazine shows increased compensaton as an aging workforce affects the facility management profession. According to Profiles 2007 Salary Report, the facility management industry is experiencing an aging workforce and a jump in salaries for those entering the field. Specifically, the base salary for those with less than four years experience rose nearly 13% from $56,000 in 2004 to $63,000 in 2007, while the median age of facility managers rose from 47 to 49.
Workers 45 or older increased from 62 percent in 2004 to 68 percent this year, with those 55 and older increasing from 20 to 25 percent during the same period.

While the average age of facility managers is on the rise, the number of young workers entering the field is on the decline. Workers 35 to 44 years old decreased from 30 percent in 2004 to 25 percent in 2007, with the number of workers younger than 35 also declining, from 9 percent to 7 percent. Only 2 percent of facility managers surveyed were 29 or younger.
Source: International Facility Management Association Press Release (November 26, 2007)

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