Pay Gap Shrinks in CRE, But Men Still Earn More

Pay Gap Shrinks—But Only on Paper

New data from CREW Network’s 2025 Benchmark Study shows that while the gender pay gap in commercial real estate is narrowing in terms of base salary, total compensation still heavily favors men. Women in CRE earn an average total of $191,103, compared to $220,275 for men—a difference of nearly $30,000 annually, as reported by GlobeSt.

This 13% gap reflects a notable improvement from the 34% disparity reported in 2020. However, the key factor driving the continued divide? Bonuses and commissions.

Compensation Structure Still Favors Men

While base salaries are nearly equal—women earn an average of $146,103 versus $151,418 for men—variable compensation remains heavily skewed. On average, men earn $23,856 more in bonuses and commissions than their female peers. In brokerage, that premium exceeds $52,000, while in development, it tops $100,000.

One reason? Men are more likely to be in roles with high commission potential and are more open to variable pay structures. According to the study, 45% of men prefer commission-heavy compensation compared to 32% of women, pointing to a divide in risk tolerance shaped by broader societal factors.

Climbing the Ladder Doesn’t Close the Gap

The disparity widens at senior levels. Male executives in C-suite roles earn 24% more than female executives. Gaps persist across age groups, particularly for professionals under 40.

Even though women now make up 38% of the industry—a ratio that hasn’t shifted significantly in 20 years—they continue to face hurdles to advancement.

Intersectionality Worsens Outcomes

Not all women experience the pay gap equally. Among female cohorts:

• White and Hispanic/Latinx women earn about 90 cents for every dollar men make.
• Asian women earn 79 cents, and Black women earn just 74 cents on the dollar.

These disparities compound over time, especially when combined with other factors like career interruptions.

Remote Work and Caregiving Take a Toll

Workplace culture and personal responsibilities further impact earnings. Nearly 1 in 5 women report taking extended career breaks, compared to just 12% of men. And 27% of women report having their compensation negatively impacted due to caregiving or marital status—more than double the rate for men.

Post-pandemic flexibility hasn’t leveled the playing field. Employees who spend more time in the office continue to get promoted faster, reinforcing existing imbalances.

Discrimination Still Seen as the Top Barrier

For the first time in the study’s history, gender discrimination was cited as the top barrier to advancement by women in CRE. While some men believe the industry has improved for women, women themselves remain unconvinced—highlighting not just a pay gap, but a perception gap as well.

Why It Matters

Even as the industry makes strides toward salary equity, structural biases in bonus structures, leadership roles, and workplace expectations remain entrenched. Closing the pay gap will require more than adjusting base salaries—it will demand a rethinking of how success is rewarded across the sector.

What’s Next

CREW Network’s findings may put new pressure on firms to restructure incentive plans, re-evaluate promotion pathways, and provide greater transparency around pay and performance metrics. As conversations around equity deepen, expect continued scrutiny and calls for reform in commercial real estate compensation.