We’re excited to announce the release of the 2020-2021 Appraisal Income Guide, the second annual Income Guide to be published by McKissock Learning. Inside the guide, you’ll find how appraisal income breaks down by license level, insights on career satisfaction, areas where top earners excel, what’s ahead for the future of the appraisal profession, and much more. This 23-page report analyzes appraiser income data gathered from nearly 500 active appraisers across the United States.
Here’s a quick overview of the three main areas covered. To get the full picture, download the free guide here.
Common factors that influence income
First, the report looks at several different areas that impact annual earnings. Appraiser income data is broken down across various factors, including:
- License level
- Years of experience
- Number of hours worked
- Employment type
Generally, appraisers are happy with their careers. But when it comes to optimism about the future, appraisers are torn, with certified residential appraisers reporting the lowest optimism of the three license levels. The guide shares several reasons why many active appraisers say they are optimistic (or not so optimistic) about their careers.
Key factors that affect appraiser income
The report also outlines the key factors that affect appraiser income. License level, number of hours worked per week, and number of years in the business are just some factors that can determine income level. Below shows the average income of an appraiser by the number of hours worked per week.
It may not be surprising that those who work more than 60 hours a week report having the highest income across license levels. However, the difference in income between those working 41-60 hours per week and those working more than 60 hours a week is not as dramatic as the difference between those who work 21-40 hours and 41-60 hours per week.
Key factors impacting an appraisal career
What does the future hold for the appraisal profession? The final section of the 2020-2021 Appraisal Income Guide breaks down four key factors likely to affect your appraisal career in the next 5–10 years: retirement, lack of trainees, opportunities for future appraisers, and license upgrades. Finally, it reveals areas of opportunity in the year ahead.