According to the Dayton Busines Journal more women have found work in commercial real estate.
More women have found work in the commercial real estate field, but the wage gap between men and women remains an issue.
There has been a 7 percent increase in women entering the commercial real estate field since 2005, according to a new study, “Women in Commercial Real Estate: 2010,” by the Commercial Real Estate Women Network.
In 2005, women represented 36 percent of those in the field, compared to 43 percent this year. The study is a follow-up to the in-depth look at the issue of men and women in commercial real estate conducted by the network in 2005.
Another finding shows the wage gap between men and women is narrowing, but still present. More women are now in the $100,000 to $250,000 per year salary category, but still fewer than men. In 2005, 8 percent of women surveyed were at the $250,000 level. This year, the number increased to 11 percent.
Men, on the other hand, saw a decrease from 34 percent in 2005 to 31 percent today.
C-Suite positions are still largely held by men, according to the study. In the study, 9 percent of female respondents reported holding the position of president, CEO, COO or CFO, while 22 percent of men reported holding those positions.
“We are encouraged that more women are finding opportunity in commercial real estate,” Kristin Blount, CREW Network president and vice president and partner, Brokerage at Colliers, Meredith & Grew in Boston, said in a news release. “Compensation and advancement issues remain, but these may be a reflection of differing long term goals with respect to men and women, as reflected by our questions on this topic. At the same time, it remains an issue that is important to understand fully and will be the subject of ongoing study.”
The study was administered by the Cornell University Program in Real Estate to more than 2,900 individuals in a wide variety of specialties within commercial real estate.
Commercial Real Estate Women Network members represent all disciplines of commercial real estate, with more than 8,000 commercial real estate professionals in 73 chapters across North America.
Aritcle Source:
Dayton Business Journal 10/19/2010