The gender pay gap in commercial real estate has widened in the past five years.
A study from the Commercial Real Estate Women Network shows that women now make 10 percent less than their male counterparts in salaried roles and 56 percent less in commission and bonuses.
Combined, the figures mean women make 34 percent less overall than men — almost 11 percent more than in 2015, the study found. CREW described the results as a “sobering picture of stagnation.”
Researchers conducting the study surveyed 2,930 industry professionals across all CRE sectors, according to Bisnow.
The respondents — surveyed between Jan. 2 and March 31 — were based in the U.S., Canada and the U.K.. Of them, 82.4 percent identified as women, 17.5% identified as men, and less than 1 percent identified as nonbinary.
The study also showed that women represent roughly 37 percent of professionals in commercial real estate, a similar figure to 15 years ago.
CREW Network CEO Wendy Mann told Bisnow that she hoped the results served as a wake-up call to the industry.
“I am really very hopeful that this study showing the lack of progress is that call to action that motivates companies and leadership to dig deeper, and really put gender diversity as well as people of color as more of a priority,” she said.
[Bisnow] — Sylvia Varnham O’Regan