Salaries and bonuses take a hit as Brexit vote bites

Average salaries and bonuses have fallen across the property industry in the past year as a result of a cooling market and the blow to confidence delivered by the Brexit vote.

Read the full survey results and analysis here

The RICS and MacDonald & Company UK salary survey, shared exclusively with Property Week, found that the average salary has fallen by 4.5%, from £54,839 to £52,362.

The survey of 8,463 property professionals also found that average bonuses have fallen by 14.4% in the past year.

Dugald MacDonald, commercial director at MacDonald & Company, said: “The question is where bonuses are going. That discretionary part of packages is often a good indication of sentiment and they are down quite a lot.

“When we tally that with our experience on the ground, negotiating salaries for people, it does seem there is a reduction in bonuses and that is down to a tighter market and reduced activity.”

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