Estate agents’ pay declines heavily over the past decade, claims new data

Estate agents earned more in 2008 than now, and are among the professions to have suffered the largest fall in pay over the past decade, research claims.

Their pay has fallen both in real terms, and once inflation is taken into account.

Estate agency comes fourth in sectors hit hardest by falling earnings since 2008.

Analysis of ONS data on earnings – which includes basic pay, overtime pay and commissions – found the average pay at companies listed as estate agencies fell by 12.6%, or by one-third once inflation is taken into account between 2008 and 2018.

The analysis claims agents earned on average £30,411 in 2018, down from £34,787 in 2008.

The research was conducted by proptech firm Wagestream, which claimed agents have seen their income fall 33.3% since 2008 once inflation is accounted for.

Those working in door-to-door sales and travel agents have experienced the largest income declines, down 46.7% and 37.7% respectively.

Apparently, journalists have seen their salaries rise by 13.8% on average, growing from £35,580 on average in 2008 to £40,490 in 2018.

But when taking inflation into account, their average 2018 salary should be £46,610, meaning that their wages have fallen by 13.1% in real terms, Wagestream claims.

The ONS data takes a sample of 300,000 employees in the UK.

Peter Briffett, chief executive of Wagestream, said: “It is great news that pay growth is the highest it has been in ten years, but many workers have seen their salaries stagnate and even fall dramatically over that time.

“Most UK workers are still in a worse position than they were in 2008, with very few people seeing a real-terms pay increase over that period.

“Some of the UK’s lowest-paid people have been hit by falling wages, resulting in their disposable income being cut to nothing, and making budgeting harder.”

Occupation

Salary – 2008 (£)

2008 salary adjusted for inflation (£)

Salary – 2018 (£)

Change 2008 to 2018 (%)

Real terms fall 2008 to 2018 (%)

Collector salespersons and credit agents

23,654

30,987

16,505

-30.2

-46.7

Leisure and travel service occupations

25,561

33,485

20,849

-18.4

-37.7

Managers in mining and energy

69,739

91,358

58,711

-15.8

-35.7

Estate agents, auctioneers

34,787

45,571

30,411

-12.6

-33.3

Electronics engineers

48,023

62,910

42,221

-12.1

-32.9

Management consultants, actuaries, economists and statisticians

53,042

69,485

46,891

-11.6

-32.5

Construction operatives 

28,568

37,424

25,517

-10.7

-31.8

Energy plant operatives

35,682

46,743

32,023

-10.3

-31.5

Health Professionals

70,257

92,037

64,753

-7.8

-29.6

Traffic wardens

21,908

28,699

20,243

-7.6

-29.5

Moulders, core makers, die casters

25,843

33,854

24,028

-7.0

-29.0

Chartered surveyors (not quantity surveyors)

44,432

58,206

41,460

-6.7

-28.8

Education officers, school inspectors

42,525

55,708

39,902

-6.2

-28.4

Product, clothing and related designers

36,763

48,160

34,623

-5.8

-28.1

Conservation Associate Professionals

26,546

34,775

25,015

-5.8

-28.1

Air travel assistants

24,486

32,077

23,346

-4.7

-27.2

Corporate Managers And Senior Officials 

146,701

192,178

140,059

-4.5

-27.1

Chemists

40,595

53,179

38,934

-4.1

-26.8

Inspectors of factories, utilities and trading standards

35,889

47,015

34,502

-3.9

-26.6

Managers In Farming, Horticulture, Forestry And Fishing

31,733

41,570

30,524

-3.8

-26.6

Architects, Town Planners, Surveyors

44,995

58,943

43,668

-2.9

-25.9

Teaching professionals

28,688

37,581

27,866

-2.9

-25.9

Finance and investment analysts/advisers

51,738

67,777

50,333

-2.7

-25.7

Medical practitioners

84,012

110,056

81,943

-2.5

-25.5

Business and Finance Associate Professionals

46,425

60,817

45,349

-2.3

-25.4

Health and social welfare associate professionals

27,312

35,779

26,696

-2.3

-25.4

Printers

26,534

34,760

25,968

-2.1

-25.3

 

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One Comment

  1. LetItGo

    Surprise….make the industry harder to work in because tenants feel empowered, landlords hate agents because they cahrge too much. Great industry ruined by idiotic legislation and forethought.

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