A recent Deloitte review that compared salaries of housing authority executive directors to their counterparts at both “top real estate executives” and non-profit organizations confirmed previous studies placing housing authority chief executives on the short end of those comparisons.
CLPHA sponsored the report with the PHADA and NAHRO. The study lent further credence to its sponsors’ assertion that the federally imposed $155,000 cap on ED pay threatens the ability of housing authorities to recruit and retain top talent.
The study found, for example, that housing authority CEOs at agencies with operating budgets of more than $20 million were paid non-competitively as measured against non-profit chief executives running organizations of similar size. Housing authority CEOs at those agencies were paid 36 percent below the median market salary, Deloitte said. The consulting firm said salaries are generally considered non-competitive if they fall outside 15 percent of the median.
When salaries of housing authority chief executives were compared with “top real estate executives” the results again showed housing authority managers lagging. Deloitte said housing authority executives of agencies with between 100 to 200 full-time employees were 20 percent below the market median.