According to the 2017 salary survey released by the Foundation for Community Association Research, managers earning professional designations and certifications expand earning potential
Community
association managers who have achieved certifications and designations have
more earning power than those who have not, according to the new, 2017 Community
Association Manager Compensation and Salary Survey, released today by the Foundation
for Community Association Research (FCAR). For more than 20 years, the
Foundation has served as the research arm for Community Associations
Institute (CAI), the leading international authority in community
association education, governance, and management.
The Certified Manager of Community Associations (CMCA) credential and CAI designations, such as Association Management Specialist (AMS), Large-Scale Manager (LSM), and Professional Association Manager (PCAM), represent an investment of time, effort, and resources that is increasingly recognized in the employment market. The new report shows, high-rise managers who hold a PCAM designation earn an average annual salary of $97,664 compared to $92,171 for those without the designation and on-site managers with a PCAM designation report an average salary of $95,618 compared to $61,475 for those without.
The survey results also indicate that managers, even management company CEOs, who have achieved a PCAM or LSM could earn as much as 10 to 20 percent more than other managers or CEOs. Additionally, nearly two-thirds of the respondents were female (62.4%), as the new research shows across the profession, more females are moving into manager positions at larger communities.
Survey findings include:
• Nearly two-thirds of respondents—an increase from past surveys—are employed by a management company rather than by a homeowners association.
• More than half (51.7 percent) of respondents report having an employment contract or agreement, which is a significant increase from the 2013 survey (43.3 percent).
• Overall, respondents are slightly more educated than previous surveys indicated, with fewer high school-only graduates and more managers reporting at least some college-level education.
• Eighty-two percent of respondents say that business prospects for their employers are “good" or “very good" for the next couple of years. Almost all other respondents believe that business prospects remain about the same.
“Historically, community managers stumbled upon the community association profession, and we're now witnessing through education that more of the workforce is choosing to enter this growing field," says David Jennings, CAE, SPHR, the Foundation's executive director. “There are many factors that influence compensation decisions for specific people in specific regions, and we're confident this new report will serve as an essential guide for employers and employees when determining compensation packages in the community association management field."
The 2017 Community Association Manager Compensation and Salary Survey is the sixth salary survey conducted by the Foundation since 2000. Each edition provides a snapshot of the community association management profession and expands our understanding of this growing and dynamic industry. The Foundation modeled the 2017 report largely on the 2013 edition and once again focused on the following roles: chief executive officer (CEO) of a management company, portfolio manager, onsite manager, high-rise manager, assistant community manager, and large-scale manager.
Visit https://foundation.caionline.org/research/salary_survey/ to learn more.
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About Community Associations Institute
Since 1973, Community Associations Institute (CAI) has been the leading provider of resources and information for homeowners, volunteer board leaders, professional managers, and business professionals in nearly 350,000 community associations, condominiums, and co-ops in the United States and millions of communities worldwide. With nearly 35,000 members, CAI works in partnership with 63 affiliated chapters within the U.S., Canada, United Arab Emirates, and South Africa, as well as with housing leaders in several other countries including Australia, Spain, Saudi Arabia, and the United Kingdom.
A global nonprofit 501(c)(6) organization, CAI is the foremost authority in community association management, governance, education, and advocacy. Our mission is to inspire professionalism, effective leadership, and responsible citizenship—ideals reflected in community associations that are preferred places to call home. Visit us at www.caionline.org, and follow us on Twitter and Facebook @CAISocial.