Real Estate Investment Trusts (REITs) own and manage real estate (income-producing properties). They can be in charge of residential, commercial, or industrial real estate, such as hotels, shopping centers, office buildings, warehouses, and commercial forests.
Thanks to REITs, you can invest in real estate as a regular or accredited investor without the expense and complexity of owning exclusive properties. This means you don’t need expensive mortgages, management agreements, or rent to hold different kinds of real estate.
REITs in the US own more than 535,000 real estate properties. Over 150 million people in the United States own REITs, making real estate one of the most popular investments.
This indicates that a lot of money is made during the process, creating various job opportunities, from entry-level to senior executive positions.
Additionally, they pay their workers well, with an average annual pay of $103,556 for a RIET. As much as there are many job opportunities, what are the best paying jobs in real estate investment trusts?
9 best paying jobs in real estate investment trusts
One of the best paying jobs in the real estate industry is working in a real estate investment trust (REIT). REITs have one of the best paying jobs compared to other professions in other industries.
Here are the 9 best paying jobs in real estate investment trusts that are definitely worth considering.
- Chief Executive Officer
REITs still need a CEO who is in charge of the organization’s direction. This makes it one of the best paying jobs in real estate investment trusts.
It takes work to make strategic decisions affecting how well the company and its employees perform. Therefore, the pay is well worth it.
However, extensive industry experience is required. Most of the time, you need to have shown yourself to be a successful leader.
You can show this by rising through different ranks and taking on various departmental roles before becoming a company CEO.
You need strong leadership abilities and in-depth expertise in the industry to become a REIT CEO. Above all, as an aspirin CEO, you must always be ready to make some of the most complex decisions.
Salary: Up to $1 million
Education requirements: You need a bachelor’s degree in real estate, finance, business, or economics.
- Chief Operating Officer
As a RIET Chief Operating Office(COO), you oversee that the company’s projects run smoothly, are successful, within the budget, and are completed on time.
You will also lead senior operators, foster junior employees, and manage teams. You must be creative and foresighted and have excellent leadership skills.
You additionally need organization and analytical skills. You need the ability to manage, lead and supervise a multidisciplinary team.
Salary: Up to $612,158
Education requirements: You also need a bachelor’s degree in real estate, finance, business, or economics.
- Chief Finance Officer
One of the most significant people in the success of REITs is the chief finance officer. As a CFO, you’re accountable for the organization’s financial well-being.
From overseeing the financial budgeting process to the financial planning process. The reason you need to evaluate data is so to determine areas that you need to improve financially. It also helps to observe the organization’s financial trends.
Analyzing data will also help in coming up with better strategies to optimize the organization’s financial performance. This helps to ensure long-term stability and organizational growth.
As a CFO, you must establish trustworthiness and strong bonds to the organization’s potential and important parties such as investors, lenders, etc. It’s also your duty to oversee and manage the finance and accounting team,
Some of the skills you need include communication, management, leadership,problem-solving, and data skills.
Salary: Up to $319,626
Education requirements: You need a bachelor’s degree in Real Estate, Finance, or Accounting
- Finance Manager
Another best paying job in a real estate investment trust is the finance manager position. Financial managers are also among the professions that pay you a 6 figure salary.
Your roles include and are not limited to forecasting, creating a budget, and sending in reports on projects. You’ll be in charge of some of the most critical company projects.
They include ensuring developers don’t spend too much or use too few resources on materials and contractors. You become an integral part of a REIT team. You report to the chief finance officer.
You need math proficiency and be detail oriented. Additionally, you need organizational, analytical, and communication skills.
Average salary: $103,556
Education requirements: Finance bachelor’s degree
- Real Estate Attorney
Real estate involves a lot of legal proceedings, such as understanding loan contracts and real estate documents. An attorney will understand all these documents even better.
Therefore, as a real estate attorney, you’re in charge of all legal paperwork involved in property transactions. In some instances, you are responsible for preparing and reviewing legal documents relating to the selling and purchasing of properties.
You need sound judgment as an attorney. Written and verbal communication, research, and negotiation are some of the most crucial skills you need as a real estate attorney.
Average salary: $158,319
Education requirements: A bachelor’s degree in law
- Property Appraiser
As a property appraiser, you first need to learn to be unbiased, primarily as you evaluate the market value of the real estate. You must act independently from the buying and selling parties.
You should be well versed in determining the worth of a property, be it a residential or commercial property. You’re responsible for collecting basic appraisal information, determining property use, and applying the best appraisal method.
You need analytical, organizational, problem-solving, and customer service skills. You also need to be good with math and, more so, have good time management skills.
Salary: $57,166
Education requirements: A bachelor’s degree
- Property Manager
Property manager roles involve managing the REITs properties’ daily operations. Your roles may include overseeing and leasing rentals and managing tenants.
The roles may differ with the type of RIET. You will be needed to oversee possible repairs, maintenance, rent collection, budgeting, and legal compliance.
You need property management experience, among skills such as communication, coordination, customer service, and budget management.
Average salary: $105,266
Education requirements: A bachelor’s degree with some real estate experience
- REIT Analyst
An analyst is among the best paying jobs in a real estate investment trust. Some analyst roles include helping the real estate and finance team acquire, sell, market, and finance properties.
As a REIT analyst, you must research, conduct data analysis, and monitor the real estate market.
Collecting such data helps organizations make better property acquisition strategies and decisions, allowing businesses to purchase properties responsibly.
You should know about different financial tools. You need research, financial modeling, data analysis, and time management skills.
Average salary:$90,512
Education requirements: A bachelor’s degree in finance or real estate
- Real Estate Developer
Your role is to oversee the construction of new properties. You must ensure the construction process is going as planned and stays within the budget.
You get to hire contractors and fire them when they don’t meet the organization’s property requirements. You must collaborate with the general contractor and subcontractors for the project’s design, styling, and construction.
Average salary: $81,700
Education requirements: A bachelor’s degree in engineering, management, or a related field.
Conclusion
Real estate investment trust offers some of the most rewarding professions, both financially and professionally. Additionally, it provides numerous positions, both entry to senior executives.
In other words, they have professions for any skill or background. However, there are some with a more attractive salary than others.
Hence if you’re considering joining the world of real estate, above are the best paying jobs in real estate investment trusts that will pay you handsomely.