Jeremy Banoff, vice chairman of Ferguson Partners and co-leader of the firm’s Compensation Consulting group, was a guest on the latest episode of the Nareit REIT Report podcast. Banoff discussed some of the key findings from the 2024 Nareit Compensation & Benefits survey, which is conducted by Ferguson Partners and sponsored by Nareit.

The participation rate for this year’s survey represents approximately 72% of the U.S. listed equity REIT industry’s total market capitalization.

This year’s survey showed a slight downward shift in voluntary turnover levels. Banoff explained that in the past few years, the baseline has been relatively higher, with “the pendulum tilted toward employees.” That’s now started to stabilize, with the pendulum swinging back toward employers, he said, although “not all the way.”