Average Commercial Real Estate Manager Salary in Belgium for 2024

In this article, we will look at the average Commercial Real Estate Manager salary for 2024 in Belgium and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Euro. To keep things simple, we are using the EUR currency code instead of the currency symbol โ‚ฌ.

How Much Does a Commercial Real Estate Manager Make in Belgium?

A Commercial Real Estate Manager working in Belgium will typically earn around 128,900 EUR per year, and this can range from the lowest average salary of about 58,720 EUR to the highest average salary of 207,700 EUR.

Average Annual Salary
128,900 EUR
Average Monthly Salary
10,741 EUR

Lowest Annual Salary
58,720 EUR
Lowest Monthly Salary
4,893 EUR

Highest Annual Salary
207,700 EUR
Highest Monthly Salary
17,308 EUR

These are average salaries for a Commercial Real Estate Manager in Belgium and include benefits such as housing and transport. It's also possible for a Commercial Real Estate Manager to earn more or less than the average salaries shown above.

Commercial Real Estate Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Commercial Real Estate Manager Salaries in Belgium

So we've looked at the average salaries a Commercial Real Estate Manager will earn in Belgium. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Commercial Real Estate Manager can earn between 58,720 EUR and 207,700 EUR on average in Belgium. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Commercial Real Estate Manager in Belgium is 142,300 EUR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 142,300 EUR, and 50% of the population earn more than 142,300 EUR.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Commercial Real Estate Manager salary in Belgium, 25% of the population are earning less than 92,300 EUR while 75% of the population earn more than 92,300 EUR.

75% of the population earn less than 189,300 EUR, and 25% of the population earn more than 189,300 EUR.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Commercial Real Estate Manager Salary by Experience Level in Belgium

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average commercial real estate manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Commercial Real Estate Manager in Belgium that has less than two years of experience can expect to earn somewhere in the region of 68,580 EUR.
  • 2 - 5 Years Experience. With two to five years of experience the average Commercial Real Estate Manager salary would increase to 91,580 EUR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Commercial Real Estate Manager, the average salary would be 136,100 EUR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 163,800 EUR.
  • 15 - 20 Years Experience. A Commercial Real Estate Manager with 15 to 20 years of experience can earn an average of 180,300 EUR.
  • 20+ Years Experience. For a Commercial Real Estate Manager with more than 20 years, the expected average salary increases to 191,600 EUR.

Average Salary by Experience Chart

0-2 Years
68,580 EUR
2-5 Years +34%
91,580 EUR
5-10 Years +48%
136,100 EUR
10-15 Years +22%
163,800 EUR
15-20 Years +9%
180,300 EUR
20+ Years +8%
191,600 EUR

Commercial Real Estate Manager Salary by Education Level in Belgium

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Commercial Real Estate Manager in Belgium based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Commercial Real Estate Manager in Belgium with a high school education can earn an average salary of 85,460 EUR.

  • Certificate or Diploma. A Commercial Real Estate Manager in Belgium with a certificate or diploma education can earn an average salary of 99,920 EUR.

  • Bachelor's Degree. A Commercial Real Estate Manager in Belgium with a bachelor's degree education can earn an average salary of 143,200 EUR.

  • Master's Degree. A Commercial Real Estate Manager in Belgium with a master's degree education can earn an average salary of 187,300 EUR.

Average Salary by Education Chart

High School
85,460 EUR
Certificate or Diploma +18%
99,920 EUR
Bachelor's Degree +45%
143,200 EUR
Master's Degree +31%
187,300 EUR

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in Belgium is around 30,700 to 92,200 EUR and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Commercial Real Estate Manager Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In Belgium, a male commercial real estate manager will earn an average of 136,200 EUR, while a female commercial real estate manager will earn around 127,700 EUR.

This means that a male commercial real estate manager earns approximately 7% more than a female commercial real estate manager for performing the same job.

Average Salary by Gender Chart in Belgium

Male
136,200 EUR
Female -7%
127,700 EUR

Commercial Real Estate Manager Average Pay Raise in Belgium

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Commercial Real Estate Manager in Belgium is around 12% every 19 months.

The national average pay raise across all professions and industries in Belgium is around 8% every 17 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 12 ÷ 19 ) × 12  = 8%

What this means is that a Commercial Real Estate Manager in Belgium can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in Belgium for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in Belgium.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
3%
Energy
6%
Information Technology
9%
Healthcare
3%
Travel
6%
Construction
9%
Education
3%

Commercial Real Estate Manager Bonus and Incentive Rates in Belgium

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Commercial Real Estate Manager is a high bonus based job, with 87% of employees reporting at least one bonus in the last 12 months.

13% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 5% to 9%.

Received Bonus
87%
No Bonus
13%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in Belgium earn approximately 8% more than private sector employees in the same role.

Public Sector
76,540 EUR
Private Sector -8%
70,600 EUR

Salaries for Jobs Similar to a Commercial Real Estate Manager

In the table below, we have salary information for jobs that are similar to a Commercial Real Estate Manager in Belgium.

Job Title Category Salary
Acquisition Associate Real Estate 61,460 EUR
Assistant Leasing Manager Real Estate 80,280 EUR
Assistant Property Manager Real Estate 82,200 EUR
Brokerage Real Estate 58,440 EUR
Brokerage Clerk Real Estate 37,740 EUR
Commercial Leasing Manager Real Estate 119,900 EUR
Community Development Manager Real Estate 117,380 EUR
Compliance Specialist Real Estate 63,040 EUR
Development Coordinator Real Estate 59,940 EUR
Director of Real Estate Real Estate 130,400 EUR
Lease Administrator Real Estate 74,380 EUR
Leasing Agent Real Estate 66,020 EUR
Leasing Consultant Real Estate 72,740 EUR
Leasing Manager Real Estate 86,800 EUR
Lettings Assistant Real Estate 35,520 EUR
Portfolio Analyst Real Estate 104,920 EUR
Portfolio Manager Real Estate 146,200 EUR
Property Acquisition Agent Real Estate 55,820 EUR
Property and Claims Specialist Real Estate 76,440 EUR
Property Manager Real Estate 93,780 EUR
Property Operations Manager Real Estate 123,400 EUR
Property Tax Assistant Real Estate 66,480 EUR
Real Estate Administrator Real Estate 69,240 EUR
Real Estate Agent Real Estate 69,240 EUR
Real Estate Analyst Real Estate 83,900 EUR
Real Estate Appraiser Real Estate 64,620 EUR
Real Estate Appraiser Real Estate 67,560 EUR
Real Estate Appraiser Real Estate 69,260 EUR
Real Estate Assistant Real Estate 58,280 EUR
Real Estate Association Manager Real Estate 80,540 EUR
Real Estate Broker Real Estate 66,480 EUR
Real Estate General Manager Real Estate 129,000 EUR
Real Estate Project Director Real Estate 117,860 EUR
Real Estate Project Manager Real Estate 116,540 EUR
Real Estate Sales Agent Real Estate 66,820 EUR
Real Estate Valuer Real Estate 68,360 EUR
Research Analyst Real Estate 61,840 EUR
Residential Advisor Real Estate 79,240 EUR
Residential Property Manager Real Estate 87,060 EUR
Shopping Center Manager Real Estate 137,400 EUR
Town Planner Real Estate 125,700 EUR

Salary Comparison by City

If you want to compare salaries with different cities in Belgium, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
Antwerp 143,200 EUR
Brugge (Bruges) 123,400 EUR
Brussel 130,400 EUR
Charleroi 130,400 EUR
Gent (Ghent) 138,800 EUR
Leuven 117,860 EUR
Liege 129,000 EUR
Namur 124,400 EUR

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