CHICAGO-According to the real estate consultant firmChristenson Advisors, based here, lenders’salaries, recruiting activity and deals in general increased in2011 when compared to the year prior. Annual total compensation forlender company CEOs, for example, was about $3.2 million for a firmwith more than $2 billion in assets under management, with CEOs atsmaller companies averaging about a third of that salary.

Kevin Christenson, founder and managingprincipal, tells GlobeSt.com that the increase is directly tied tothe increase in transaction activity. “When you look at thecommercial real estate industry in general, 2011 was a better year,things are improving,” he says. “But the world is still delicate,we’re hoping things won’t turn out like last year. As long asthere’s no hiccups like the financial crisis dropping again inEurope, the improving sentiment should spread across the industryfor 2012.”

About 75 of the top commercial lending companies were surveyed,he says. The companies included public and private nationalcompanies and CRE lending groups that provide first mortgage loans,bridge loans, preferred equity, joint venture equity, mezzaninefinancing, senior debt and B-notes, and other lending products.Nearly two-thirds of those surveyed classified themselves as CRElenders, while the rest classified themselves as an investmentmanager with a debt focus. Most of the respondents said they expectsalaries will continue to escalate this year because of the solidgrowth in the markets.