You pay your commercial real estate analyst a salary, but how much time do you get in return? Assuming 52 weeks per year and an average work week of 40 hours per week, there are a potential 2,080 working hours per year. However, your real estate analyst’s productive hours per year are around 926. Where did all the time go?
The average US salaried employee in a professional role receives 3 weeks of paid vacation per year. Most companies will even pay employees for their unused vacation hours. Assuming your commercial real estate analyst takes three weeks of vacation, their productive hours per year drops by 120 (3 weeks at 40 hours per week).
Paid Sick Days
In addition to paid vacation, most employers offer a week of paid sick leave. Assuming your analyst takes advantage of these sick days, their productive hours per year drops by an additional 40 hours.
The average US employee receives 8.5 days of holiday time per year. This includes both market holidays and a couple floating holidays. At 8 hours per day, holidays reduce your commercial real estate analyst’s productive hours by 68.
A study of nearly 2,000 full-time office workers revealed that most people aren’t working for most of the time they are at work. These include Facebook, socializing with co-workers, LinkedIn, long lunches, and Instagram. The most popular unproductive activities in the study include:
- Reading news websites–1 hour, 5 minutes
- Checking social media–44 minutes
- Discussing non-work-related things with co-workers–40 minutes
- Searching for new jobs–26 minutes
- Taking smoke breaks–23 minutes
- Making calls to partners or friends–18 minutes
- Making hot drinks–17 minutes
- Texting or instant messaging–14 minutes
- Eating snacks–8 minutes
- Making food in office–7 minutes
Total time on these top 10 daily time-wasters equates to more than 4 hours and 20 minutes! Rounding to 4 hours, the average analyst will waste 20 hours per week on non-productive tasks. Adjusting for time off, the average real estate analyst will waste 926 hours per year!
Let’s do the math
2,080 (There are 2,080 working hours per year)
-120 (Paid vacation)
-40 (Paid sick days)
-68 (Paid holidays)
-926 (Unproductive time wasting)
= 926 hours, the true hourly value of a full-time real estate analyst