Manager Compensation

[Amy_ISS]

Manager wages, bonuses and perks continues to be a complex equation in the self-storage industry. There's no real baseline due many factors, including residency (or not), facility size, work days and hours, etc. Read this article to gain some clarity on the topic.

[KeelHauler1994]

For me, there is no 'one-size fits all', but I always try to be fair and equitable. I oversee facilities from under 500 units/spaces to almost 800 units/spaces in different cities in a metro area. The fact is, the 'best' managers may not make the most money, but everyone is given the opportunity to maximize their facility revenue and therefore their wages. The employee before me had not changed company wide pricing in a couple of years, so you had facilities moving in and out of the high 90's with employees not making max bonus. I made the necessary changes and now have had to adjust the max bonus upwards, since I have facilities blowing past the previous numbers. My company paid out the largest monthly bonus to a management team, ever, last year, but they had to earn it (and this happened during Covid-19).

[MyStorageOps]

I actually have a formula where I plug in multiple variables in regards to the facility and with that, it gives me a number that the manager should be making. I never have to guess what a manager should be making starting at etc.

[pacnwstorage]

I want a Brinks armoured truck to back up to my office each pay day and deliver whatever is in the back, all of it. IMO, I am worth it.

[Grizz]

I actually have a formula where I plug in multiple variables in regards to the facility and with that, it gives me a number that the manager should be making. I never have to guess what a manager should be making starting at etc.

Care to share?

[MyStorageOps]

Grizz I will PM/DM you.