2025 CREW Network Benchmark Study: Workplace Data and Trends in Commercial Real Estate

Executive Summary 

The purpose of this study is to inform companies, managers, and the entire industry about the values and priorities of commercial real estate professionals and enhance the research and data for organizations that strive to advance women and diversity, equity, and inclusion (DEI).  

This project, in partnership with the MIT Center for Real Estate, is made possible by support from CREW Network Foundation and contributing underwriters ICSC, MBA, and NAIOP.  

Study Participants 

A total of 2,450 industry professionals across commercial real estate sectors completed the 2025 study between Jan. 20 and April 30.  

• Nearly 90% of respondents reside in the United States and 8% in Canada 

• 86% identified as women 

• 85% identified as non-Hispanic white 

The study posed 80 questions to participants. Some questions were newly added or substantially revised in response to the industry’s evolving dynamics, with a new emphasis on post-pandemic workplace trends. Highlights and key findings of the study follow.  

Progress—and Continued Barriers—for Women  

• While men still outearn women, the gender pay gap narrowed in the last five years. The fixed salary gap decreased from 10% to 4%, and the overall compensation gap (including commission, bonuses, etc.) went from 34% to 13%.  

• Women’s compensation and career satisfaction remain stable through negative market cycles, putting them in stronger positions in “down” years.  

• Women are enjoying more flexibility in where they work, taking advantage of remote and hybrid opportunities.  

Three areas where we continue to see a lack of progress:  

• For the first time in the history of the study, women report that gender discrimination in the workplace is their primary barrier to success. 

• Women comprise 38% of the commercial real estate industry—a one percentage point increase since 2020. This percentage has remained nearly constant over the last 20 years.  

• Women continue to earn less than men, despite average base salaries becoming closer to equal.  

Compensation 

Consistent with the last four studies conducted in 2020, 2015, 2010, and 2005, the 2025 benchmark study found the following gender pay gaps, which have decreased since 2020: 

• Women make 4% less than men in base salaries 

• Women make 13% less in overall compensation packages, including base salary, commission, bonuses and profit-sharing 

• Women make 35% less in compensation from commission, bonuses, and profit-sharing. 

The average fixed base salary in commercial real estate in 2025 is near parity at $151,418 for men and $146,103 for women—a 4% gap. In terms of total overall compensation, men earn 13% more than women, compared with 34% in 2020. This change was driven almost solely by a decline in men’s average commission and bonus revenues ($68,857 USD compared with $122,826 in 2020).  

Career Aspirations and Trajectory 

In 2025, men and women report similar long-term career ambitions for C-suite roles. This convergence reflects a decrease in men’s aspirations, which fell from 43% in 2020 to 30%. There is also some stagnation in the career ambitions of the youngest women respondents. Their desire for jobs such as senior vice president or partner remains steady, but there is a noticeable drop in aspirations to a C-suite position. 

Women are more than twice as likely to report that their career or compensation has been negatively affected by their marital/family status or care of family, with the number of those negatively impacted increasing to 27%, up from 21% in 2020. 

Barriers to Professional Fulfillment 

For the first time in the history of the CREW Network benchmark study, women report that gender discrimination in the workplace is the primary barrier to their success. This continues a concerning trend—gender discrimination has become a greater barrier with each study. Women also find family and parenting responsibilities to be an obstacle while this challenge does not appear on the list for men.  

While most participants said that equal opportunities, advancement, support, culture, and compensation for women have improved since 2020, there was a significant gender disparity in the responses, with men much more likely to claim improvement. 

Workplace Culture 

In commercial real estate, women are vastly more likely than men to experience sexual harassment at work. Nearly 6% of women experienced such unacceptable behavior in the past year, compared with less than 1% of men. This figure for women has dropped only one percentage point since 2020.  

Approximately one-third of women reported experiencing sexist behavior within the past year. Although this represents a significant decrease from 45% in 2020, such behavior remains unacceptably prevalent. 

Impact of the COVID-19 Pandemic and Flexible Work Arrangements 

Our findings indicate that commercial real estate professionals now spend only 56% of their time in the office. Women work remotely an average of 2.5 hours more per week than men, a flexibility that appears to provide a modest short-term benefit. However, individuals who spend more time in the office tend to receive promotions at higher rates, a dynamic that could contribute to a future gender-based promotion gap.