CRE Salaries Up Slightly, But Frustration Grows

Pay in commercial real estate rose modestly in 2025, but slow hiring and flat bonuses have many professionals feeling stuck.

October 17, 2025

Nina Dale

Salaries grew modestly: CRE base pay rose 4.7% in 2025, up from 4% in 2024, according to RCLCO.
Bonuses remain flat: Nearly half of firms reported no bonus changes; others increased them by an average of 12.7%.
Hiring is slow and selective: A cautious market has led to longer hiring cycles, smaller raises, and selective bonus distribution.
Frustration is rising: Talent feels stuck, with few opportunities to move up or cash in, particularly in dealmaking roles.

Key Takeaways

Modest Pay Gains, Lingering Uncertainty

Salaries in commercial real estate rose 4.7% this year, a slight improvement over 2024’s 4% growth, according to RCLCO.

Bonuses, however, have stayed mostly flat. Nearly half of firms reported no changes, and those offering increases averaged just 12.7%, per Bisnow.

That’s a far cry from the 20%+ increases seen during the talent wars of 2021–2022. “It’s harder for firms to justify big bonuses,” said Lucy Bertsch, principal at RCLCO.

Feeling Stuck in a Slow Market

Many professionals say they’re stuck. Dealmaking is still slow, which limits the potential for performance-based bonuses. Some are asking for higher guaranteed pay, but firms are reluctant to commit in an uncertain market.

“There’s a lot of frustration,” said Allison Weiss of CRE Recruiting. “Until the recovery kicks in, major movement won’t happen.”

The uneven bonus landscape has also created a divide between high earners and others. “There’s a growing ‘have and have-not’ culture,” Bertsch added.

Job Moves Are Slower, Offers Are Leaner

Firms are taking longer to hire and offering lower salaries than in the past. Still, some job seekers are accepting less just to make a move. “People are willing to take a haircut,” Weiss said.

Layoffs haven’t stopped either. JLL cut 400 jobs in April, and CBRE let go of nearly 300 in its government services division. While not massive cuts, these steady reductions keep the job market soft.

A Wait for 2026

A true recovery—and better job prospects—may not come until early 2026. That’s when new budgets and market clarity could unlock hiring.

Until then, firms are trying to keep mid-career staff engaged, while many workers are holding on—not out of loyalty, but due to a lack of better options.

“People aren’t staying because they want to,” Weiss said. “They’re staying because there’s nowhere else to go.”