Average Residential Property Manager Salary in South Korea for 2024

In this article, we will look at the average Residential Property Manager salary for 2024 in South Korea 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 South Korean won. To keep things simple, we are using the KRW currency code instead of the currency symbol โ‚ฉ.

How Much Does a Residential Property Manager Make in South Korea?

A Residential Property Manager working in South Korea will typically earn around 57,961,400 KRW per year, and this can range from the lowest average salary of about 26,639,300 KRW to the highest average salary of 92,158,600 KRW.

Average Annual Salary
57,961,400 KRW
Average Monthly Salary
4,830,116 KRW

Lowest Annual Salary
26,639,300 KRW
Lowest Monthly Salary
2,219,941 KRW

Highest Annual Salary
92,158,600 KRW
Highest Monthly Salary
7,679,883 KRW

These are average salaries for a Residential Property Manager in South Korea and include benefits such as housing and transport. It's also possible for a Residential Property Manager to earn more or less than the average salaries shown above.

Residential Property 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 Residential Property Manager Salaries in South Korea

So we've looked at the average salaries a Residential Property Manager will earn in South Korea. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Residential Property Manager can earn between 26,639,300 KRW and 92,158,600 KRW on average in South Korea. 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 Residential Property Manager in South Korea is 62,638,300 KRW. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 62,638,300 KRW, and 50% of the population earn more than 62,638,300 KRW.

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 Residential Property Manager salary in South Korea, 25% of the population are earning less than 40,199,100 KRW while 75% of the population earn more than 40,199,100 KRW.

75% of the population earn less than 83,521,700 KRW, and 25% of the population earn more than 83,521,700 KRW.

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.

Residential Property Manager Salary by Experience Level in South Korea

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 residential property 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 Residential Property Manager in South Korea that has less than two years of experience can expect to earn somewhere in the region of 30,240,200 KRW.
  • 2 - 5 Years Experience. With two to five years of experience the average Residential Property Manager salary would increase to 40,439,700 KRW.
  • 5 - 10 Years Experience. From five to ten years of experience as a Residential Property Manager, the average salary would be 59,758,700 KRW.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 72,840,900 KRW.
  • 15 - 20 Years Experience. A Residential Property Manager with 15 to 20 years of experience can earn an average of 79,319,400 KRW.
  • 20+ Years Experience. For a Residential Property Manager with more than 20 years, the expected average salary increases to 85,918,200 KRW.

Average Salary by Experience Chart

0-2 Years
30,240,200 KRW
2-5 Years +34%
40,439,700 KRW
5-10 Years +48%
59,758,700 KRW
10-15 Years +22%
72,840,900 KRW
15-20 Years +9%
79,319,400 KRW
20+ Years +8%
85,918,200 KRW

Residential Property Manager Salary by Education Level in South Korea

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 Residential Property Manager in South Korea 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 Residential Property Manager in South Korea with a high school education can earn an average salary of 37,078,800 KRW.

  • Certificate or Diploma. A Residential Property Manager in South Korea with a certificate or diploma education can earn an average salary of 43,680,700 KRW.

  • Bachelor's Degree. A Residential Property Manager in South Korea with a bachelor's degree education can earn an average salary of 63,360,300 KRW.

  • Master's Degree. A Residential Property Manager in South Korea with a master's degree education can earn an average salary of 82,921,700 KRW.

Average Salary by Education Chart

High School
37,078,800 KRW
Certificate or Diploma +18%
43,680,700 KRW
Bachelor's Degree +45%
63,360,300 KRW
Master's Degree +31%
82,921,700 KRW

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 South Korea is around 19,400,000 to 58,300,000 KRW 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.

Residential Property 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 South Korea, a male residential property manager will earn an average of 60,119,800 KRW, while a female residential property manager will earn around 55,801,900 KRW.

This means that a male residential property manager earns approximately 8% more than a female residential property manager for performing the same job.

Average Salary by Gender Chart in South Korea

Male
60,119,800 KRW
Female -8%
55,801,900 KRW

Residential Property Manager Average Pay Raise in South Korea

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 Residential Property Manager in South Korea is around 12% every 17 months.

The national average pay raise across all professions and industries in South Korea is around 9% every 16 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 ÷ 17 ) × 12  = 8%

What this means is that a Residential Property Manager in South Korea can expect to receive an average pay raise of around 8% every 12 months.

Annual Pay Raise by Industry in South Korea for 2024

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

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

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

Residential Property Manager Bonus and Incentive Rates in South Korea

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 Residential Property Manager is a moderate bonus based job, with 60% of employees reporting at least one bonus in the last 12 months.

40% 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 2% to 7%.

Received Bonus
60%
No Bonus
40%

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 South Korea earn approximately 6% more than private sector employees in the same role.

Public Sector
47,880,300 KRW
Private Sector -6%
45,239,100 KRW

Salaries for Jobs Similar to a Residential Property Manager

In the table below, we have salary information for jobs that are similar to a Residential Property Manager in South Korea.

Job Title Category Salary
Acquisition Associate Real Estate 37,318,700 KRW
Assistant Leasing Manager Real Estate 53,040,100 KRW
Assistant Property Manager Real Estate 55,081,300 KRW
Brokerage Real Estate 37,681,400 KRW
Brokerage Clerk Real Estate 20,400,600 KRW
Commercial Leasing Manager Real Estate 78,960,300 KRW
Commercial Real Estate Manager Real Estate 84,718,900 KRW
Community Development Manager Real Estate 75,121,900 KRW
Compliance Specialist Real Estate 39,241,100 KRW
Development Coordinator Real Estate 39,840,400 KRW
Director of Real Estate Real Estate 89,281,500 KRW
Lease Administrator Real Estate 48,119,900 KRW
Leasing Agent Real Estate 40,321,500 KRW
Leasing Consultant Real Estate 50,398,300 KRW
Leasing Manager Real Estate 53,521,300 KRW
Lettings Assistant Real Estate 20,518,900 KRW
Portfolio Analyst Real Estate 65,280,600 KRW
Portfolio Manager Real Estate 90,599,800 KRW
Property Acquisition Agent Real Estate 35,039,300 KRW
Property and Claims Specialist Real Estate 48,601,200 KRW
Property Manager Real Estate 57,239,200 KRW
Property Operations Manager Real Estate 83,160,200 KRW
Property Tax Assistant Real Estate 40,321,500 KRW
Real Estate Administrator Real Estate 42,601,100 KRW
Real Estate Agent Real Estate 40,439,700 KRW
Real Estate Analyst Real Estate 51,841,000 KRW
Real Estate Appraiser Real Estate 44,280,500 KRW
Real Estate Appraiser Real Estate 44,398,300 KRW
Real Estate Appraiser Real Estate 44,878,500 KRW
Real Estate Assistant Real Estate 38,399,900 KRW
Real Estate Association Manager Real Estate 52,558,300 KRW
Real Estate Broker Real Estate 38,760,100 KRW
Real Estate General Manager Real Estate 79,679,400 KRW
Real Estate Project Director Real Estate 77,159,200 KRW
Real Estate Project Manager Real Estate 72,958,100 KRW
Real Estate Sales Agent Real Estate 40,559,300 KRW
Real Estate Valuer Real Estate 45,239,100 KRW
Research Analyst Real Estate 36,358,600 KRW
Residential Advisor Real Estate 47,519,800 KRW
Shopping Center Manager Real Estate 87,481,900 KRW
Town Planner Real Estate 85,560,900 KRW

Salary Comparison by City

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

City Average Salary
Bucheon 50,398,300 KRW
Busan 61,321,600 KRW
Daegu 59,518,100 KRW
Daejeon 61,561,100 KRW
Goyang 55,081,300 KRW
Gwangju 57,719,800 KRW
Incheon 63,481,200 KRW
Seongnam 53,521,300 KRW
Seoul 65,401,000 KRW
Suweon 54,000,800 KRW
Ulsan 53,278,500 KRW

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  • "Average Residential Property Manager Salary in South Korea for 2024". World Salaries. Accessed on March 29, 2024. https://worldsalaries.com/average-residential-property-manager-salary-in-south-korea/.

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