Foster & May Report – Q4

I have been assisting professional Quantity Surveying consultancies across London and the Southeast in hiring Quantity Surveyors for the past eight years. Since the fourth quarter of 2023, I have been producing reports focused on relevant statistics, trends, and insights into the QS consultancy recruitment market.

In this report, I will provide a recap of the year, including a review of QS salaries, trends, statistics, key topics of discussion, and a forward-looking perspective on the future.

Salary Insight

The below information highlights the average salary requirements of Quantity Surveyors across the Southeast in 2024.

Graduate Quantity Surveyor: £27,921

Assistant Quantity Surveyor: £33,736

Quantity Surveyor: £48,070

Senior Quantity Surveyor: £68,181

Associate Quantity Surveyor: £89,634

Director: £113,402

Graduate vs Assistant

In the initial reports, I was somewhat surprised by how closely aligned the salary requirements for Graduate and Assistant Quantity Surveyors were. However, the gap has since widened, to the point where there is now a clear distinction in salary expectations: a Graduate typically seeks £27,921, while an Assistant expects £33,736 in today’s market.

Apprentices 

Throughout my career, I have supported many Apprentice Quantity Surveyors, each with varying levels of experience. The primary reason for their departure is financial—not driven by greed, but by a sense of fairness.

Their main concern is that, despite often having greater responsibility and a more significant impact on projects than degree-qualified professionals, they are paid less and frequently support them in their work.

Each company will have its own perspective, but when hiring, you will need to decide which factor is more important: 

(a) experience and the ability to perform the job, or
(b) the qualifications held by the QS.

Newly Qualified (MRICS)

As the second sitting of the APC interviews concludes, many Quantity Surveyors are celebrating their achievement of MRICS status. Once the celebrations wind down, attention will inevitably turn to salary expectations.

Here are a few key tips:

• The minimum starting salary for an MRICS Quantity Surveyor, regardless of experience, is £50,000.
• Keep in mind how challenging it is to find MRICS Quantity Surveyors—it’s nearly impossible—so ensure you don’t undervalue them.
• Be proactive—don’t wait for your QS to come to you. Take the initiative to arrange a meeting, demonstrate that you care, and stay ahead.
• Remember, you only get one chance to make a positive impression. Make your best offer from the outset.

Senior’s seeking a step up

Throughout 2024, I regularly assisted and spoke with Senior Quantity Surveyors who were leaving their current practices in search of an Associate position elsewhere, after being unable to secure one internally.

I must stress that these were all highly skilled Quantity Surveyors with diverse skill sets. This prompted me to seek your insights on the key differences between a Senior Quantity Surveyor and an Associate.

The results were as follows:

• Business Development: Probably the most significant factor. Most consultancies expect their Associates to consistently win new work. This responsibility goes beyond simply servicing existing clients or securing repeat business.
• Management: Associates are typically responsible for managing direct reports on a day-to-day basis, including setting goals, delegating tasks, conducting reviews, and overseeing performance.
• Delivery: Associates are expected to deliver high-quality work with minimal support, demonstrating strong independence and leadership in their role.

Work From Home

When a topic of conversation continues to be discussed two years after the initial discussions began, it’s clear that it is of significant importance to people and isn’t something that will fade away anytime soon.

As the intermediary between companies and candidates, I can confidently say that Work From Home (WFH) requirements are just as important to both parties. Similar to matching skill sets and experience to job vacancies, I now also need to match WFH preferences to ensure I don’t waste anyone’s time.

In my last report, I asked what WFH arrangements you offer. Here are the results:

• 14% offer a maximum of 1 day WFH per week
• 57% offer a maximum of 2 days WFH per week
• 21% offer a maximum of 3 days WFH per week
• 7% offer full remote working

The results indicate that over 50% of consultancies offer at least two days of remote work per week. Based on my experience, this aligns with the preferences of most Quantity Surveyors for whom remote work is a significant consideration.

International opportunities

Over the past six months, my LinkedIn feed has consistently highlighted Quantity Surveyors taking up new positions internationally, predominantly in the Middle East but also in the United States.

There is a noticeable trend of construction consultancies dedicating more time and resources to overseas opportunities, driven by the allure of larger projects and, consequently, higher fees. As a result, the demand for Quantity Surveyors is rising. Since Quantity Surveyors continue to be in short supply, companies are offering inflated salaries to entice UK-based Quantity Surveyors to work abroad—similar to the trends observed during the earlier boom in Dubai’s construction market.

What does this mean for you?

It means the pool of available Quantity Surveyors in the UK will shrink, and you may find yourself competing with both local and global firms for their expertise. Therefore, I recommend maintaining an open mind when considering the Quantity Surveyors available in the market. Additionally, working closely with recruitment consultants who specialise in the UK consultancy sector will be essential in securing the right talent.

Sell Out or Sell In

In my Q4 2023 report, I highlighted the growing trend of mergers within the Construction Consultancy market.

For instance, CBRE, Turner & Townsend, and Alinea joined forces, while Artelia, which had previously merged with Austin Newport, has continued its expansion by merging with Castons and Pick Everard.

We’ve also seen international buyers entering the market, such as MGAC and Robinson Low Francis and, more recently, Hennick & Company acquiring a significant stake in Gardiner & Theobald.

Conversely, some consultancies have opted to move in the opposite direction by transitioning to Employee Ownership Trusts (EOT). Core Five recently made this shift, and Hollis has also adopted the EOT model.

It will be fascinating to observe how other consultancies choose to navigate this landscape moving forward. However, the current trend appears to favour selling out rather than transitioning to employee ownership.

Foster & May

It’s always important to take time to reflect on what has happened, but it’s equally vital to look ahead and embrace the future.

For me, that future is Foster & May.

After several wonderful years with Brandon James, I am thrilled to announce the launch of my own Construction Recruitment Consultancy, Foster & May. Our focus will be on providing tailored recruitment solutions exclusively for the Construction Consultancy sector.

As many of you know, my expertise lies in helping businesses hire Quantity Surveyors. With this new venture, I’ll now be able to assist you across all areas of your business—whatever your recruitment needs may be, I am here to help.

I’m incredibly excited about this new chapter and would be delighted to have the opportunity to support you again. If you’re open to working together, please don’t hesitate to let me know—it would truly be my pleasure.

I look forward to reconnecting with you all soon. In the meantime, thank you for your trust and support over the past eight years. Wishing you a Merry Christmas and a Happy New Year!