If you’re a recent graduate about to embark on a career in valuation, you’ll know that there are multiple paths you can take. You may have already mapped out your ideal career trajectory. Perhaps you’ve got an interest in valuing retail or industrial spaces and you’re hoping to land a job within one of the larger firms’ graduate programs. Or maybe you’ve decided that residential property is the best fit for you.
Knowing your areas of interest and how you’d like your career to pan out is of great benefit.
However, it’s also important to remain open minded and flexible because there are often a number of ways to get where you want to be in your career.
For instance, there’s currently a shortage in the residential valuation sector, especially regionally(?), whereas it’s much more competitive for valuers in the various commercial sectors at present.
This doesn’t mean you shouldn’t pursue a career in commercial valuation – there are still plenty of opportunities there – especially if you live regionally. Starting out in residential valuations can be a pathway to commercial work if that’s what you want.
We’ve put together a brief overview of some of the roles and expected salaries for Valuers to help recent graduates who are wondering about their career prospects.
An entry level salary as an assistant valuer is usually around $55,000/$60,000 including super.
These are predominantly administrative roles. You’re expected to learn from more senior staff and gain experience drafting up reports.
RPV Qualified Valuer
If you have your Residential Property Valuer accreditation, then you can expect to start out earning around $65,000/$70,000 including super, plus bonuses.
Working as a RPV is a great way to establish yourself. The work is predominantly assigning values, writing and signing reports.
Even if you plan on eventually becoming a Commercial Valuer, the experience you gain as a RPV can be beneficial. Some Commercial employees prefer hiring Residential Valuers over Assistant Valuers because they have gained first-hand experience assigning values. You would also expect to receive better pay as an RPV (relative to an Assistant Valuer) due to base salary and the bonuses.
A career as an RPV can be exciting and diverse with opportunities across Australia. Experienced and hard-working Residential Valuers can earn as much as 250k a year.
CPV Qualified Valuer
As a newly qualified CPV you can expect to be earning $70,000-$90,000 + bonuses.
The work itself is dependent on the sector you specialise in. Once you have your CPV qualification it’s a great idea to explore a few different areas (e.g. commercial / industrial / retail). This will help round out your experience and give you an opportunity to discover a specialisation you like and are good at.
If you are really passionate and crave complexity, there are some fantastic career (and salary) opportunities in Mortgage, Going Concerns, Litigation / Expert Witness, Development, Institutional, Agribusiness, Rating and Taxation… the list goes on.
If you live regionally or are open to moving to a provincial area, there are a number of opportunities available. Regional areas provide some of the most diverse work and best chances to enhance your career. Young Valuers can get exposure to Commercial, Rural / Agribusiness, Going Concerns etc, while more experienced Valuers often get to manage the business or achieve equity earlier than their metro counterparts.