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:
| Sector | Employed People (Number in Million) |
| Real Estate Industry | 1.855 |
Table showing employment by occupation in 2023
| Jobs | Employment Stats |
| Accounting, Bookkeeping & Auditing roles | 52,730 |
| Managers – General & Operations | 69,230 |
| Workers – Landscaping & Groundskeeping | 27,740 |
| Clerks, & General Posts | 94.240 |
| Managers – Property, Real Estate & Community Association | 229,840 |
| Real Estate Brokers | 46,320 |
| Real Estate Agents | 162,020 |
Note: This Data is as per of February 2023
The following data represents the jobs available in Real Estate sector:
| Employment (in thousands) | Jan 2024 | Feb 2024 | Mar 2024 | Apr 2024 |
| All Employees | 1,876.4 | 1876.1 | 1880.2 | 1878.8 |
| Employment – Production & Non-supervisory | 1,349.9 | 1,349.8 | 1,353.0 | – |
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 REITs | Direct Employment | Indirect & Induced Employment | Total |
| Operation | 331,000 | 995,000 | 1,326,000 |
| Dividend & Interest Payments | 0 | 398,000 | 398,000 |
| Construction | 874 | 836 | 1,710,000 |
| Total | 1,204,000 | 2,229,000 | 3,434,000 |
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.
| Position | Job Title | Average Salary | Estimated Number of Jobs |
| 1. | Property Manager | $110,581 | 178,820 |
| 2. | Investor Relations Manager | $117,419 | 26,330 |
| 3. | Financial Analyst | $91,276 | 71,920 |
| 4. | Project Manager | $110,581 | 52,610 |
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.
