London property players see pay and bonuses soar

A combination of more money than ever pouring into commercial property and a limited pool of talent is driving up pay packets, writes the Financial Times. Among the beneficiaries of the boom are the agents who advise developers, buyers and sellers. The highest earners at leading agencies such as Jones Lang LaSalle are understood to have earnt five times as much in 2005 than in 2002. There has also been enormous demand for talented property fund managers to run a rapid rise in the number of real estate funds. Most listed property companies have reported rapid rises in the value of their assets in the past few years. As a result, few shareholders have not objected to large bonuses paid to many of the best-performing directors. References: Financial Times 18/11/06 page 19