They inundate you with work and expect you to work non-stop. They expect you to do about 40 appraisals per month. The pay is $17 per hour. Yes, you read that correctly. They allow up to 2 hours overtime per workday. Average monthly pay is about $3,750. Bonus is about $1,000 per month (if you can do about 40 reports per month). Don't start pick out the color of your new Lamborghini just yet. That is gross pay, the government still gets to take their cut. Typical take home pay is about $2,600 per month.
A typical fee for a 1004 single family appraisal is $425. Out of this, after accounting for your hourly pay and bonus, you make about 45% of the fee or $191 per appraisal.
They will tell you to log in all of your hours worked, but if you're not cranking out 50-60 reports per month you will be "counseled" by your manager on how to be more productive.
There is an abundance or work, which is desirable for appraisers. However, there are times when it gets slow. If it gets too slow they will do massive layoffs. I have been through 3 cycles where my coworkers were laid off without warning.
If you're a fee appraiser thinking about taking a job as a staff appraiser with Corelogic, STOP. DON'T DO IT! You will have to get rid of all of your current clients and will not be allowed to do outside work. Did I mention the pay? Yes, it's $17.00 per hour. Minimum wage in CA is currently $10.50 per hour. And it will increase every year for the next 5 years. By 2022, minimum wage will be $15 per hour.
If you're still considering a job offer, just wait a few years, ditch the appraisal license, and get a job as a fry cook at Jack N the Box. At least there, you will have a chance to advance with the company..........and one day have a chance to buy your own franchise.
