Topic: Am I missing something? Do assistant managers make over $100K now?

I just spoke to a friend. She is interviewing candidates to be her assistant manager.
The candidate that she just finished interviewing asked for a base salary of $54K, plus a collection bonus of $1,620 per month ($19,440 per year), plus renewal bonuses (another $8K), plus leasing commissions @ $125 per lease.
Am I missing something? Do assistant managers make over $100K now? Was the candidate out of touch with reality?
What is the going salary for an assistant manager in Houston?

Edit: Many of you asked for location, property size, and rent range. Sorry for leaving this out. Houston - Galleria/Greenway Plaza Area, 275 units, Rents: $2K to $5K.

I wish I made that much as a manager :D

I think that really depends on property size.

Property size and location…base is on par for VA/DC area for assistants….the collection bonus is high.

Jt research puts out a salary report by positiin that you can get off HAA website.

HAAonline.org

Holy crap, I'd love that kind of money! Lol the base salary alone is more than what I make including all bonuses yearly 

I heard a candidate for a part time leasing position ask for more than I was making as the Assistant Manager, it was kinda nuts. Of course, the "interns" where I am now make more than when I was an Assistant Manager.

That base salary seems pretty reasonable, maybe a little low actually for an average size property of 200 to 300 ish units in my area. The monthly bonus seems out of touch assuming the size of property mentioned above. My AM's Quarterly bonus is probably a little more than what they asked for as their monthly bonus.... and the rest is all very property performance subjective as far as renewals and leases and can't be promised as they should know already. But at least the base asking salary I think is very reasonable - even a little low. My AM makes more than that for 335 units.

What state are you in? I have never heard of an APM making that much plus a quarterly.

We are in Seattle, WA. Me, my maintenance supervisor and assistant manager all get a quarterly bonus equal to 12% of our salary.

But our costs for everything are going to be so much higher... rent, food, utilities, gas... its super duper expensive here. Costs me $90 just to fill up my gas tank 

I think the collections commission is insane but I assume that is a company structure. The rest of it seems resonable depending on experience, knowledge, size of the property, etc. Pay scales for new hires are so much higher than a few years ago. We are averaging 20-30% for most positions.

That is not normal. My ACM is close to $43K with commissions.

That is what I was thinking too. For a 275 unit property, our company pays around that plus $125 per lease, $60 renewals, and a $250-$500 monthly collection bonus.

I’m in Charlotte, NC. I’m an APM at 568 units and make almost $46k in just base but I don’t get a collection bonus and get $100/lease although I rarely have time to lease but every team member gets a flat $300/quarter just because.

Depends on your property and market. That doesnt sound out of reach in newer class b/class a properties in DFW!
I would definitely say it is on the higher end for hourly, and also… since when did companies let employees have a say in their bonuses and commissions?
 

My assistant manager deserves that but gets a fraction. Unit count, turnover/vacancy rates and NOI are the only real measure of value.

The salary is based on location and property size. The bonuses…. Structures are company based and can vary based on collecting and rentals ETC.
I worked for a company that new leases were $150 per lease. Or another one was 1% of each lease. So, it may not be unrealistic.

The collection bonus is extremely high but the base salary is more in line these days. Leases/renewals are all over the place these days now.

The truth of it is we have all been underpaid for a very long time. Owners are starting to realize the “good” employees are worth the extra penny. There’s a lot of people in our industry that, quite honestly, don’t really know what they are doing. Owners used to see it as a property manager is a dime a dozen. Covid exposed a lot of the “bad” ones. This also allowed us to revalue ourselves being that it was shown not just anyone can do what we do successfully. The person probably aimed a little too high, but I agree with the mentality. Everything else in life, you get what you pay for. Why should our field be the exception?

I have always thought leasing agents were the most underpaid onsite if they don’t lease apartments nobody gets paid. From the top down. Yes all positions are important and I concur with Jeff as well. Payroll this person through an agency for a month and see if they are worth it.. it’s a working interview.

I don't even make that for maintenance, or when I was doing maintenance and leasing!!!!

It should be... well the Property Manager at least. Asst should make min $60k and leasing $50k

Assistant Managers honestly should be making $5K less than the property manager; Assistants go through so much and experience such medium pay.

Companies not wanting to pay for quality workers is why this industry is so shit. My biggest question is why is everyone who is "tenerued" in this business afraid to ask for what they're worth? Remember you're just a $sign to these people you slave over for and protect. It's sad honestly.

The problem is that these apartments complex don't wanna pay. They do cheap repairs and want all profit. They pay crap and get crap workers. You pay cheap you get crappy workers. Not that complicated

If the *starting* rent is $2k, why shouldn’t the assistant manager be paid enough to qualify for rent?
If we use the 3x rule, that’s $72k annual— I’m not seeing what’s the problem here?

ACM are usually between $18-25 depending on size, location, and company. Collection bonus is usually $1-2 per unit depending on what the delinquency percentage is and commission/renewal is $100 or 1% per is average. Renewals are split between the entire team.
This is what I've seen most.
I made $15 as an ACM and made less than $50k for my first CM position.

That’s unfortunate. I made over $56K my first year as a leasing professional (14 years ago making $11.80 hourly). Leasing professionals should start at a minimum of $17-$20 hourly: Assistant Community Manager should be $22 minimum for a small property ….plus all the bonuses for leasing renewals, delinquency, quarterly etc ….

If she knows her worth and is a good hard worker she knows what she brings to the table. Companies have no problem asking employees to do more etc. So Start paying more.

Always go high and ask for as much as possible! Also, women rarely counteroffer so giant high five for this woman! She might not get it, but big props for advocating for herself! A company can make the offer they see fit and she can accept it or not. Don’t judge her though for asking for more.

Assistant Manager pay $20-25 hourly plus bonus based on experience and size of property. Bonus usually includes a delinquency bonus of $500 monthly plus leasing and renewal bonus. I hope this helps.

That is way out of range! The base is ok the rest is crazy!