The best paying jobs in real estate investment trusts are more than enough for those who want to join the industry. As REITs is a broad field, you can expect to find jobs at different skill levels. To start working in this sector, you need to know the jobs you can do.
Additionally, you should know the salary you can get from each REIT job type. In our detailed guide, we will discuss different jobs and the cumulative annual pay. Before we start, we will familiarize you with the real estate investment trust (REIT) subject.
The meaning of REIT
A REIT is any company that buys and sells real estate assets to make money. A public or private REIT can own residential and commercial buildings. REITs employ several workers to carry out daily activities that lead to business success.
Public REITs list their assets in stock exchanges to attract the best trading partners. In contrast, private REITS do not invite the public to invest in their assets. Management of REITs depends on if they are public or private organizations. When it comes to working, you find the best paying jobs in Real Estate Investment Trusts in public and private companies.
What are the best paying jobs in Real Estate Investment Trusts?
Apply for a managerial role if you want a good salary working in REITs. Junior positions still pay high salaries, but the ultimate best payer is a management position. The set of skills each role targets are unique, and they determine the best salary size. If you are ready to work for REITS, check the highest-paying jobs available.
1. Asset Manager
An asset manager supervises the management of a given percentage of the REIT’s assets which is considered to be one of the best paying jobs. This job is more common in large-scale REITs with a portfolio of different assets. An asset manager may be responsible for managing several properties at once.
Hence, their work can be challenging due to the high number of assets they need to oversee. Management here means creating the best strategies for acquisitions, mergers, property sales, etc. You can qualify for an asset manager role if you have a Bachelor’s degree in business management, Masters in Business Administration, and five to ten years of experience in the real estate sector.
If you get an assets manager job, you can expect a base salary of $150,000 to $250,000 per annum. Most employers run a bonus program as an incentive for high job performers. If you add these bonuses, you can make more the 150k.
2. Portfolio Manager
The portfolio manager has one of the best paying jobs in real estate investment trusts. As a portfolio manager manages hundreds of assets located in a given territory. They lead all workers assigned jobs in that specific territory. When major issues arise, portfolio managers take the front positions to help find solutions.
As they face clients directly, they tend to understand every aspect of the assets they manage. Asset managers are superior to portfolio managers, but their roles are similar. Additionally, the minimum requirements you need before applying for a portfolio manager role are like those of an asset manager.
If you need this job, you need good academic certificates and up to ten years of hands-on experience in the real estate field. A portfolio manager earns $125,000 to $225,000 per annum. Salary variations occur because some people have more experience than others. Also, some REITs generally pay their workers well.
3. Property Developer
Development is one of the top sectors of the REIT. It provides some of the best paying jobs in real estate investment trusts. Those who work in this sector are builders who engineer and run different projects. As a property developer, you will be the best-paid employee in the development sector.
You will be responsible for locating the best land for planning and development projects. Thus, you will perform this work properly if you know zoning, economic trends, contract work, etc. Your employer will make you in charge of land development projects in a given territory. They will expect you to run those projects based on a signed contract.
To qualify for this position, you should have a Bachelor’s degree in construction management. Additionally, your recruiter will want to know how long you have served in the building and construction sector. Like the assets manager and portfolio manager, you can earn a high salary ranging from $115,000 to 200,000 per year.
4. An Attorney
Lawyers have specialties. If you are a real estate attorney, you can find one of the best paying jobs in real estate investment trusts. Besides representing your employers when they land into court cases, you have more work you can do as an attorney. For instance, you are responsible for assessing contracts before managers can sign them.
For instance, when there is a property sale, you must read and understand the terms and conditions in the contract. To qualify for this role, you require a Bachelor’s degree in law. Also, you must be an intellectual property lawyer who specializes in real estate and contract law. As for the salary, you can make $115,000 to $185,000.
5. Acquisition Specialist
For REITs to succeed, it needs a lot of marketing efforts. The person responsible for REITS marketing is the acquisition specialist. They help the asset manager or portfolio manager find the best real estate deals.
Creating and implementing strategic marketing plans to draw in new customers, boost revenue, and expand the company is the major responsibility of an Acquisition Specialist. Thus, these crucial factors will always be brought up in the interview questions for marketing managers.
Because of the nature of your job, you must have interpersonal skills to network with people and convince them to give you business. To qualify as an acquisition specialist, you need a Bachelor’s degree in a business course and a practicing license. You can make some good money if you reach your sales target.
Your pay can be $110,000 to $175,000 per annum. However, your commissions and bonuses can provide more income. Usually, your bonus amount will be a percentage of the total sales amount. A typical bonus rate for an acquisition specialist is one to five percent of the deal’s purchase price.
6. Real Estate Agent
As a realtor, your work is to help sellers and buyers carry out real estate transactions. They will locate houses on behalf of those looking to purchase homes. Still, they assist those who want to sell their homes, even foreclosure homes. Real estate agents play broad roles, including finding business deals for employers.
In a REIT setting, a realtor can act like an acquisition specialist. If you make a great marketer and have the best interpersonal skills, try to apply for a real estate agent. It is the easiest job to get because you do not need a Bachelor’s or a Master’s degree. If you have a license to practice as a realtor and have proven selling abilities and expertise, the realtor job could be the correct role for you.
When it comes to payment, you will not earn a salary. Instead, you will earn a sales commission from different tasks. Usually, realtors can earn as little as sixty thousand dollars to half a million dollars per year. Your commission can increase if you find a job allowing you to sell high-value properties.
7. REIT Analysts
A REIT analyst’s work is to assess various real estate deals. They have to identify the core deal value to see if it goes with the REIT’s investment idea. If a deal is unprofitable and risky, they will dismiss it. On the other hand, they will receive any profitable deal that the REIT can invest in without putting its assets in danger.
They carry out financial analysis work and must therefore have a Bachelor’s degree in business management.
Some employers might ask for an MBA and a great deal of experience in real estate assets analysis. Also one of the best paying jobs in real estate investment trusts, professionals can expect to make eighty to one hundred and twenty-five dollars per year. Depending on your employer, you can earn perks beyond your base salary.
How you can get the best paying REITs job
Besides the above jobs, the REITs sector has many more options. Thus, you can become a property appraiser, an accountant, or a tax specialist. As REITs jobs are available, ensure you meet the minimum requirements to get hired. Once you identify the role you want to do, ensure you have the correct skills and expertise before applying.
As you might have noted, many roles require an undergraduate degree in business management and similar fields. So, you can raise your chances of getting the best paying jobs in REITs by advancing your studies. The internet provides many reading resources and some distance learning courses.
Conclusion
After discussing the best paying jobs in real estate investment trusts, we hope you have found your best match. If you have found an interesting title, the next thing is to locate the best jobs from employers.
Whether you will use your friends or online job boards to find a job, the essential thing is to find a job. Make sure you prepare well for your job interview to get the chance to work for your favorite REIT.
