Thank you to all the respondents to the 2008 RICS and MacDonald & Company salary survey.

The results from this year's survey in full can be found in the PDF download section above.

Average salary increases for chartered surveyors continue to perform well ahead of other jobs*, reports the 2008 RICS and MacDonald & Company salary survey.

2007 increases remained in line with previous years amounting to a steady increase of 6.25% each year over the past four years. 

RICS members continued to shine earning far more than their non-chartered counterparts, especially in the early stages of their career, making the qualification increasingly of interest to young graduates. 

The average salary of RICS Members (MRICS and FRICS) is £49,366 - 51% higher than non-chartered personnel who averaged £32,729. 

Average salaries of RICS members tend to be particularly higher than their non-chartered counterparts at the earlier stages of their career.

• 23-26 years of age earning 31% more than their non-RICS counterparts (£31,795 versus £24,290)
  
• 36-45 years of age, earning salaries 36% higher (£56,382 versus £41,412).

Peter Moore MRICS, Managing Director of MacDonald & Company:

"Those in the second year of a graduate scheme who take their APC see their salaries shoot up from £25,000-£26000 straight to £33,000-£34,000 plus car allowance and other benefits."

"Percentage wise this is a huge leap at an early stage in a person’s career, showing the real benefits structured RICS training can achieve.

"The higher earnings enjoyed by RICS members later in their careers shows the relevance of the qualification and the value employers place on those willing to make the investment of time and effort."

Though salary took over as the most important aspect of a participant’s job pushing interesting work into second place, career progression has increased significantly in importance at a total level. 

59% of respondents placed high importance on career progression opportunities, with a further 69% of respondents stating that they are were unlikely to change jobs in the next twelve months. 

This strongly indicates that employers are recognising the needs of their staff and providing effective career development opportunities.

Sean Tompkins, RICS Chief Operating Officer commented:

"To qualify as a chartered surveyor takes dedication and application.

"The rewards are justifiably higher for chartered property professionals recognising their enhanced status and high standards of professionalism and integrity.

“The exceptional differences in salary enjoyed by our members, against those that are non-chartered, show the value and status of the qualification and recognition of the first class individuals employed by firms. 

"With 87% of respondents happy with their current jobs, this survey is very encouraging of the strides employers have taken in this sector."

About the RICS and MacDonald & Company Survey
Now in its ninth year the annual survey enjoyed its largest and most comprehensive response ever with over 6,900 participants – 2,000 more than in 2007. 

Just over half of those completing the survey this year were Assistants/Probationers and Professional Staff (52% versus 28% in 2007) with the average age of participants falling for the second year in a row, to 35 in 2008, compared to 38 in 2007 and 40 in 2006. 

*The UK average salary increase in 2007 for all jobs was 3.8%. Source: Office of National Statistics