role, one of the strongest influences they have is the salary they can offer. To stay competitive within the industry they must offer competitive salaries that reflect the current marketplace and in order to do this, they must know what the current market rate is. Equally, employees can use a salary report such as this to determine if a job offer is reflective of the industry and the role. Reviewing salaries on a regular basis can help employees make informed decisions about their future without wondering if the grass is indeed any greener on the other side of the fence.
In 2016 YPI CREW launched a new peer- to-peer salary comparison website for the yachting industry designed to add a greater level of transparency.
SALARIES
ARE YOU PROPERLY PAID? I
The industry is growing rapidly and a career in yachting can be rewarding, and a wonderful opportunity to travel the world. But are you worth your salt?
nformed employers recognise that
in order to attract the top level of talent and experience for a particular
The site
www.yachtingsalaries.com has now attracted over 4000 salary entries since its launch, establishing the site as the most comprehensive and up-to-date salary database available within the global yachting industry. Best of all, the salary data is free for anyone to access.
Yachtingsalaries.com operates on a ‘give to get’ model. Put simply, it’s a form of sharing - you provide accurate and anonymous salary data by answering a few questions about your current role, and in return you get access to all the salary information shared by other members of the yachting community.
As salary data is entered by members of the community the site works on an honesty system. There is really no incentive for contributors to mislead people about what they earn. Any inflated or inconsistent salary entries can be ‘flagged’ as suspicious
CAPTAINS 2018
Captain salary summary 433 captains have contributed with their salaries and of those, 340 (77%) are working on motor yachts and 93 (23%) on sailing yachts. This is coherent with the ratio of the global world fleet 83 % of which are motor yachts and 17 % are sailing yachts. Overall, only 23 % of captains who contributed are on rotation with motor yacht captains benefiting to a higher degree. We note that in some instances, the salaries of the 2018 contributing captains have gone down compared to the 2017 contributing captains.
Permanent 75% 25% M.Y. Captains 15% S.Y. Captains Rotation 85%
by other members of the community or by YPI CREW and quickly removed from the system.
One of the other key differences of the site over the traditional ‘once a year’ salary survey is that salary data is continually added by site visitors on a daily basis, with the salary database updated in real time and available for instant searching. The hope is that the site becomes a rich and indispensable research resource that is continually referred to by yacht crew seeking work and employers alike.
To visit the site and contribute your salary details or conduct a free search of the salary database, please visit
www.yachtingsalaries.com
NOTE: ALL SALARIES ARE IN EUROS AND ARE ON A PER MONTH BASIS
M.Y. Captains
S.Y. Captains
40 | SPRING 2019 | ONBOARD
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