WORTH YOUR SALT S
alary is generally one of the top motivators when choosing a job onboard a yacht, yet it is usually
one of the best kept secrets within the industry. When negotiating the final salary, it’s important that both the employer and employee have an idea of what the standard is for that particular position. This will help keep the transparency and build trust.
THE IMPORTANCE OF SALARY REPORTS Informed employers recognise that in order to attract the top level of talent and experience for a particular role, one of the strongest influences they have is the salary they can offer. To stay competitive within the industry you have to offer competitive salaries that reflect the current marketplace. And in order to do this, you have to know what the current market rate is. Equally, employees can use a salary report such as this as an orientation point to get an idea if a job
CAPTAINS 2020 Captains | Permanent vs. Rotation
347 captains have contributed with their salaries and of those, 287 (82%) are working on motor yachts and 60 (18%) on sailing yachts. Overall, only 33% of captains who contributed are on rotation, which usually, if and when available, starts on yachts over 50m. Experienced recruiters are invaluable at this level as they can definitely add value in the salary negotiation stage; it is their role to act as a middle person to ensure that, when a job offer is made, it is to all parties’ satisfaction and is therefore accepted. They know how best to champion their skills, experience and to craft and finesse a deal.
offer is reflective of the industry and the role they serve.
THE DATA AND HOW YPI COLLECT IT In 2016, YPI CREW launched a peer-to- peer salary comparison website for the yachting industry. Here, anyone working in the industry is welcome to anonymously enter their salary along with their rank. The site has so far attracted over 5,655 salary entries since its launch and best of all, the salary data is free for anyone to access.
The figures shown here are median values of the real salaries entered by yachting crew. They can be used as orientational figures but the real salary offered during the recruitment process will vary depending on the candidate’s experience, training, certificates and additional skills, but these figures are a solid sounding board.
Launched in 2016 the YPI Crew Salaries website provides the most detailed salary information within the industry across all the positions on board the yacht
All salaries are expressed in euros. Please note that the blanks in the graphs are due to either lack of entries for that particular category or the non-existence of a role in a specific segment. For example, there are generally no third officers on yachts less than 50 metres.
Data presented here is collected from anonymous yacht crew members and it should not be seen as a definite portrayal of the current market but merely an informal indication.
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.
To visit the site to contribute your salary or conduct a free search of the salary database, visit
www.yachtingsalaries.com
Captain Salaries | Motor Yacht
Captain Salaries | Sailing Yacht
70 | SPRING 2021 | ONBOARD
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