How Many Jobs are Available in Real Estate Investment Trusts (REITs)? Stats and Facts!

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How Many Jobs are Available in Real Estate Investment Trusts

As the real estate industry in the US is currently booming, Real Estate Investment Trusts (REITs) are growing, too. That’s good news for job seekers as well as for those who wish to make money with Real estate. Presently, there are 225+ REITs in the country with a $1.1 trillion market capitalization.

REITs are public investment vehicles listed on a Stock Exchange. Real Estate Investment Trusts own real estate and assets that can generate passive income. Real estate properties owned by REITs are generally developed, and then they are included in an investment portfolio for income generation.

This Article will specifically focus on the number of jobs available in REITs.

How REITs are a Good Career Option?

In 2021, the U.S country employed 144,000 real estate sales agents and nearly 44,000 real estate brokers and the numbers have been increasing ever since.

The U.S Bureau of Labor Statistics job outlook mentions that the employment opportunities for brokers and agents are expected to grow 3% between 2022 and 2032, with a projected 51,000 vacancies each year. It means there is a growing demand for qualified professionals in the industry. If you wish to pursue a career in real estate, joining the REIT industry as a real estate entrepreneur can be a good option for you.

In 2023, the number of people employed in the real estate sector is represented by the two tables given below:

SectorEmployed People (Number in Million)
Real Estate Industry1.855

Table showing employment by occupation in 2023

JobsEmployment Stats
Accounting, Bookkeeping & Auditing roles52,730
Managers – General & Operations69,230
Workers – Landscaping & Groundskeeping27,740
Clerks, & General Posts94.240
Managers – Property, Real Estate & Community Association229,840
Real Estate Brokers46,320
Real Estate Agents162,020

Note: This Data is as per of February 2023

The following data represents the jobs available in Real Estate sector:

Employment (in thousands)Jan 2024Feb 2024Mar 2024Apr 2024
All Employees1,876.41876.11880.21878.8
Employment – Production & Non-supervisory1,349.91,349.81,353.0

REITs Supported 3.4 Million Jobs in 2022

As per available data from the United States Department of Labor, REITs offered full-time equivalent (FTE) employment to 3.4 million people in 2022 (the most recent year for complete data). That is equivalent to $263 billion worth of labor income.

Refer to the table below for the breakup in jobs in the REIT sector in 2022:

Activity of REITsDirect EmploymentIndirect & Induced EmploymentTotal
Operation331,000995,0001,326,000
Dividend & Interest Payments0398,000398,000
Construction8748361,710,000
Total1,204,0002,229,0003,434,000

Average Salary Range while Working With REITs

The average earnings in REITs range between $76,495 and $145,071. A REIT Analyst earns almost $91,276 annually, almost twice what real estate agents and brokers earn. In 2023, the real estate industry’s average wage was approximately $94,031 per year. 

The top jobs available in the REIT sector are as follows:

4 Best Paying Jobs in Real Estate Investment Trusts

The best jobs in Real Estate Investment Trusts are that of a property manager, investor relations manager, financial analyst, and project manager. The table below shows the estimated number of jobs for each role and their average annual salary.

PositionJob TitleAverage SalaryEstimated Number of Jobs
1.Property Manager$110,581178,820
2.Investor Relations Manager$117,41926,330
3.Financial Analyst$91,27671,920
4.Project Manager$110,58152,610

Investor Relations roles are quite in demand as people in these roles coordinate and communicate with all shareholders of the REIT. People from finance backgrounds are ideal for these roles.

People looking to work in operations or as asset managers in REITs have lucrative openings as they are responsible for handling the client’s assets as per their investment goals. They need to work with multiple teams as well as the client and guide them about the right portfolio choices, and so on.

Property managers manage the property, including leasing, collections, maintenance, etc. The other two roles currently in demand in the REIT sector are the acquisition and development roles.

Conclusion

If you have a knack for finance and wish to pursue a lucrative career in real estate, this is the opportune time to join the REIT sector. There is a growing scope for analysts and project managers in this sector.

As per government indications, the industry is set to grow by leaps and bounds overall. Even if you are from human resources or administration, you can also take up these specific roles.

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Hamza is a lifestyle blogger who loves to travel. He has written extensively on money matters and is always eager to share his two cents with families looking for financial advise