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How many jobs are available in real estate investment trusts (REITs)? This is one major question that people interested in working real estate jobs tend to ask quite often.
Many individuals are currently looking to explore different industries in search for the right career change. As such, most of these individuals are captivated by the activities of the real estate market but for some reasons or the other, are not willing to start their own companies. So it becomes a good fit to work for a real estate investment trust.
What are Real Estate Investment Trusts (REIT)?
REIT is the short form for Real Estate Investment Trusts. Real estate investment trusts are typically public investments that are listed on the stock exchange market.
It is important to note that careers in REITs tend to be very lucrative in as much as the industry keeps growing and expanding vastly as days go by. Real estate investment trusts, when viewed as an industry that it is, actually make significant contributions to the job market and economy’s tax base.
Based on research, REITs contributed an estimate of 2.9 million full-time jobs to the United States economy in the year 2020.
As an investor, when you purchase a REIT, you simply investing in a company that operates and owns real estate. The company then holds unto such investments and generate profits from rent, lease payments, or other sources based on the company activities.
What Number of Real Estate Investment Trusts Exists Out There?
There a presently a great number of real estate investment trusts (REITs) in the United States, with a combined market capitalization of over $1 Trillion. These companies hold a wide variation of properties ranging from hospitals to data centers, down to apartments.
There are over 225 REITs in the United States alone. They are all registered with the Securities and Exchange Commission (SEC), and each trade on one of any of the major stock exchange.
It has been observed that most of these Real estate investment Trusts are privately held, based on the fact that according to the IRS, over 1,100 REITs have had tax returns filed.
Job Outlook for People in the REITs Sector
The Real Estate Industry is fast growing and a whole lot of opportunities are available for individuals interested in this field of operation. Therefore, it is safe to say that the job outlook for those in the sector is very great.
If as an individual, you really want to have a lot of good opportunities for growth, then the real estate is a very good option to consider because the industry itself is always changing. The job market here is expected to grow at an annual rate of 10% for individuals in real estate investment trusts.
Additionally, a business degree is required of anyone who wants to start at a managerial level, and this is so for about 30% of all REITs jobs.
How many jobs are available in real estate investment trusts?
Over 1,500 real estate jobs are currently available on the LinkedIn platform and about 3,000 more are available on Indeed platform.
Within the real estate investment trusts industry, an individual can take on quite a wide variety of different career paths, with different opportunities and salaries.
The Real Estate Investment Trusts Best Paying Jobs
For instance, in this sector, an Asset Manager can get to earn up to $200,000 annually. Other position with very high income include Investor Relations Personnel, Developers, and Acquisition Professionals.
It is very important to take note of what positions are available in what companies, because these roles often overlap and intersect. You can work for a real estate investment trust in many industries, including residential leases and construction project companies.
Requirements for Working in REITs Companies
For you to land a good job in this sector, it is required that you should have a degree in finance, economics, or business, along with adequate experience levels in the real estate industries. Although these requirements vary, depending on the company, some of these companies may also require you to have experience in law, accounting, or investment banking.
Other requirements you need to meet in order to work in the real estate sector include: You must,
- possess the passion for real estate investments.
- be willing and able to devote enough resources and time need to play your role in the position made available to you.
- Meet the standards of the company and uphold its values.
By law, REITs are required to invest in real estate. Therefore, it is of high importance that you have a strong grasp and understanding of the market system before you can work or succeed in the industry.
Types of Available Jobs in Real Estate Investment Trusts
There are quite a number of available jobs in the real estate sector. Ranging from Development to Management roles, a REIT is responsible for every aspect of a real estate project.
Many opportunities are available to you if you are interested in working in this field. Such available roles include:
- Financial Analyst
- Construction Supervisor
- Financial Analyst
- Commercial Developer
- Acquisition Team Member
- Property Manager
- Marketing Coordinator
Different responsibilities and duties are assigned for each of these roles. For example, a financial analyst monitors and determines if the assets are living up to their financial obligations, while a property manager oversees the operations and maintenance of a property.
On the other hand, a real estate agent is responsible for helping to purchase or sell off a property, while a commercial developer is in charge of designing, constructing, and managing commercial developments.
How Much can be Earned While Working for a REITs Company?
In this business sector, larger companies with more complex on-the-job tasks always pay more as compared to other smaller companies with lower profit margins.
Research has shown that the average base salary in the REIT industry is at $75,000 per annum. This happens to be above the median salary which is at $60,000 per annum. This has there for shown that jobs in the Real Estate Investment Trusts sector are very lucrative.
Senior Analysts and Lead Analysts are among the most popular jobs within the industry with annual salaries that range between $80,000 – $90,000. At this point, it is important to note that these figures are all national medians, which may vary based on your location.
The Executive level jobs are the ones that offer the highest earning potential. A senior executive role is accompanied by a salary that goes well over six figures of about $105,000. Although these earners in this role typically have stake of ownership in their companies.
Conclusion
Looking at the available jobs in Real Estate Investment Trusts (REITs), you can note that these jobs makeup part of the highest paying jobs, and yet surprisingly, they have quite lower barriers as to entry for a career field. Depending on the company you work for, and the job you handle, you can earn quite a lot of money working for a REITs company.
