Annual cash compensation for construction and real estate executives rose modestly in 2003, increasing a median 4.3 percent for the year, according to a survey conducted by executive search firm Specialty Consultants and published in its Construction & Real Estate Leaders.
“Unlike many other industries, construction … experienced little in the way of salary cuts or freezes,” the report stated. “When freezes did occur, they were often placed on vacant positions …, effectively making them hiring freezes.”