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Showing posts from tagged with: YPI Salary Review

Are you properly paid?

Article by ONBOARD Magazine

24.04.19

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?

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 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.

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 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

CAPTAINS 2018
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 some instances, the salaries of the 2018 contributing captains have gone down compared to the 2017 contributing captains.

YPI SALARY REVIEW
YPI salary review
Engineer salary

ENGINEERS 2018
375 technical crew have contributed; 217 chief engineers, 80 second engineers, 21 third engineers and 41 ETO/AVIT. Overall, many more engineers are rotation than captains. We see that 56% of chief engineers, 65% of second engineer and 57% of third engineers are rotational along with 83% of ETO/AVIT engineers which is by far the highest proportion in the technical team. It can be seen perhaps surprisingly that salaries for ETO/AVIT remain relatively constant irrespective of the size of the vessel. To compensate, perhaps, they are the category that most benefit from rotation.

Rotation Engineers
Engineers & ETO Salaries
Deck Officers Salaries

DECK OFFICERS 2018
227 Deck Officers have contributed with their salaries braking down to 131 chief officers 67 second officers, 17 third officers and 10 sole mates. From the data we see that fewer chief officers have a rotational position that second engineers at 33 % versus 65 % yet they benefit more from rotation then captains who are at 23 % only. Deck salaries remain relatively constant on mid-size vessels and above.

DECK OFFICERS
DECK OFFICERS & ETOS SALARIES

PURSERS, STEWARDS/STEWARDESSES 2018
20 pursers, 67 chief steward/esses and 29 second steward/esses contributed with their salaries. Pursers, after engineers and third officers are the category who most have access to rotation. 45 % of pursers are on rotation whilst only 19% of chief steward/esses have this luxury.

Pursers on rotation

CHEFS 2018
102 chefs contributed with their salaries of which 58 were head chefs and 23 sous chefs. Surprisingly, only 30 % of head chefs who contributed are on rotation.

Yacht Chef Salary
Head Chef Salary

DECKHANDS 2018
116 deckhands contributed with their salaries in 2018 and as is expected, we see that salaries are constant irrespective of the size of the yacht.

deckhand salary
deckhand salaries

To visit the site and contribute to the YPI Salary Review or conduct a free search of the salary database, please visit www.yachtingsalaries.com