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March 30, 2017
IAAO members, members with designations report higher salaries, according to industry compensation survey
IAAO members reported annual base salaries of nearly $10,000 more than nonmembers and members with designations reported receiving $2,400 more than those without a designation, according to results of a new compensation report by the International Association of Assessment Officers.
The IAAO 2016 Assessment Industry Compensation Survey, performed by Readex Research, was recently released and is available through the IAAO website as an eBook or a printed copy.
Pricing for the eBook is $199 for IAAO members and $399 for nonmembers. Printed copies are $249 for members and $499 for nonmembers.
The survey also found that nearly half of employees in the assessment industry may retire or leave the industry within nine years, with nearly a quarter planning to leave in less than five years.
Among the major findings from the 2016 survey are:
- IAAO members reported median annual base salary of $66,000, versus nonmembers at $56,800.
- Among those who currently hold an IAAO designation the median salary is $63,000; $2,400 higher than the median salary among those who don't have a designation.
- The average (mean) full-time assessment professional reported an annual base salary of $66,800.
- Nearly half, or 48%, of employed respondents plan to retire or leave the assessment industry within nine years, including 23% who plan to do so in less than five years.
- 12% reported annual base salaries of $100,000 or more while 13% reported salaries below $40,000.
- Those who are self-employed or work for multiple jurisdictions reported the highest median salaries; those who work for a state or county/county equivalent reported the lowest.
- Approximately half (48%) have completed a bachelor's degree or higher.
- Approximately 60% of respondents were 50 years of age or older.
The survey provides information from approximately 3,000 respondents on compensation and provides an in-depth analysis
on
compensation by job descriptions, experience, education level, and size of jurisdiction. Salaries were grouped by job titles inside of nine overall categories: Administrative; Real Property Appraisal/Assessment: Commercial/Industrial; Real Property Appraisal/Assessment: Residential; Personal Property Appraisal/Assessment; Legal; CAMA/IT; Mapping/GIS; State Oversight Official; and Education Coordinator.
Annual base salary varied greatly by job function, supervisory responsibility, employer type, location, and jurisdiction size. The survey also looked at the importance and contributory influence of benefits, reviewing paid time off, insurance, and paid professional development.
The compensation survey is the only survey in the assessment profession gathered at a national level in the United States that includes a standardization of hundreds of job descriptions. The last completed IAAO Salary Survey was in 1996, preceded by an almost identical survey in 1990.
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