A person working in Real Estate in Zimbabwe typically earns around 246,000 ZWD. Salaries range from 90,300 ZWD (lowest average) to 419,000 ZWD (highest average, actual maximum salary is higher).
The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Real Estate domain in Zimbabwe exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.
|Job Title||Average Salary|
|Acquisition Associate||175,000 ZWD|
|Assistant Leasing Manager||235,000 ZWD|
|Assistant Property Manager||227,000 ZWD|
|Commercial Leasing Manager||384,000 ZWD|
|Commercial Real Estate Manager||384,000 ZWD|
|Community Development Manager||351,000 ZWD|
|Compliance Specialist||170,000 ZWD|
|Development Coordinator||178,000 ZWD|
|Lease Administrator||238,000 ZWD|
|Leasing Agent||189,000 ZWD|
|Leasing Consultant||210,000 ZWD|
|Leasing Manager||254,000 ZWD|
|Lettings Assistant||87,900 ZWD|
|Portfolio Analyst||308,000 ZWD|
|Portfolio Manager||440,000 ZWD|
|Property Acquisition Agent||169,000 ZWD|
|Property and Claims Specialist||218,000 ZWD|
|Property Manager||270,000 ZWD|
|Property Operations Manager||389,000 ZWD|
|Property Tax Assistant||186,000 ZWD|
|Real Estate Administrator||211,000 ZWD|
|Real Estate Agent||198,000 ZWD|
|Real Estate Analyst||239,000 ZWD|
|Real Estate Appraiser||187,000 ZWD|
|Real Estate Assistant||182,000 ZWD|
|Real Estate Association Manager||249,000 ZWD|
|Real Estate Broker||176,000 ZWD|
|Real Estate General Manager||371,000 ZWD|
|Real Estate Project Manager||331,000 ZWD|
|Real Estate Sales Agent||197,000 ZWD|
|Real Estate Valuer||185,000 ZWD|
|Research Analyst||176,000 ZWD|
|Residential Advisor||216,000 ZWD|
|Residential Property Manager||253,000 ZWD|
|Shopping Center Manager||378,000 ZWD|
|Town Planner||389,000 ZWD|
Salaries in Real Estate in Zimbabwe range from 90,300 ZWD (starting average salary) to 419,000 ZWD (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.
The median income in the field of Real Estate is 231,000 ZWD, implying that half of the workforce in Zimbabwe earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.
Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Real Estate in Zimbabwe earn less than 178,000 ZWD, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 273,000 ZWD, while 25% earn more than that.
Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Real Estate in Zimbabwe. The analysis revealed that roughly 65% of all reported salaries fell within the range of 121,000 ZWD to 197,000 ZWD. Approximately 20% of salaries were below the 121,000 ZWD mark, while 10% ranged from 197,000 ZWD to 231,000 ZWD. Only 5% of individuals earned a gross salary of 231,000 ZWD or higher.
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage.
Generally speaking, employees in Real Estate in Zimbabwe having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income?
We compared the salaries of professionals at the same level but with different college degree levels across many jobs in Real Estate in Zimbabwe, below are our findings.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a certificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
A Master's degree program or any post-graduate program in Zimbabwe costs anywhere from 1,080,000 ZWD to 3,250,000 ZWD and lasts approximately two years. That is quite an investment.
Employees can't expect any salary increases during the study period, assuming they already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? In the field of Real Estate in Zimbabwe, the average difference between the salary of male and female employees is 13%.
Professionals working in Real Estate in Zimbabwe are likely to observe a salary increase of approximately 5% every 28 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Listed above are the average annual increase rates for each industry in Zimbabwe for the year 2022. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
61% of surveyed staff in Real Estate reported that they haven't received any bonuses or incentives in the previous year while 39% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 2% to 7% of their annual salary.
The most standard form of bonus, where the employee is awarded based on their exceptional performance.Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.Goal-Based Bonuses
Granted upon achieving an important goal or milestone.Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
The main two types of jobs
|Revenue Generators||Supporting Cast|
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
|Average Salary 2019|
|Average Salary 2020||+4%|
|Average Salary 2021||+4%|
|Average Salary 2022||+4%|
Salaries for individuals working in Real Estate in Zimbabwe are rising in the year 2023 based on recently submitted salaries and reports. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from one industry to another.
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
The minimum pay rate per hour for people working in Real Estate in Zimbabwe is 520 ZWD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Zimbabwe is 25% on average across all career fields.
A good and competitive compensation would range anywhere between 231,000 ZWD and 273,000 ZWD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
The base salary for jobs in Real Estate in Zimbabwe ranges from 178,000 ZWD to 273,000 ZWD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
©Salary Explorer 2023