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40% Bonus Rise for Estate Agents
Record bonus payouts to estate agents and real estate fund managers have resulted from a recent boom in commercial property sales high-end Central London residential properties.
A survey compiled by RICS and Macdonald & Company found that investment brokers – who typically advise of deals worth millions per building – are the highest paid in the property market, with average bonuses topping £43,359 by the end of 2006.
Across the board, property industry bonuses rose by 40% in 2006 (to around £10,000), a figure that included school-leavers working in local estate agents and junior surveyors in City practices.
It is believed that a number of partners in high-profile city offices earn seven-figures including their bonuses. Savills chief executive Aubrey Adams says the firm has a £100 million bonus pot to be shared amongst 3000 staff, which includes a number of £1 million payouts for top commercial property experts in London.
www.businessinberkshire.co.uk/directorsnews
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