Compensation for Travel Buyers Up 5 Percent Year Over Year
The GBTA Foundation released its annual Compensation and Benefits study today that looks at salaries, bonuses, and benefits for U.S. travel buyers. In good news for travel buyers, salaries are up year over year increasing 5 percent to $110,000 for total pre-tax compensation in 2015. Median salaries are up, as well, increasing 6 percent to $103,000.
What Factors Impact Salary Level?
Average salary size is directly correlated to company spend size, however, there is a 30 percent increase in average salaries between those working at companies with an annual spend of less than $10 million ($82,000) and those at companies with an annual spend of $10 million to less than $50 million ($117,000).
The study shows GTP Certification holders earn 8 percent more than those without it. Their median incomes were also 17 percent higher.
Compensation rises with career level as well with the largest increases seen from experienced/entry level staff to manager (+37 percent) and director to executive (+37 percent). Not surprisingly, compensation also rises with education level. There is a much larger compensation increase between having an associate’s degree or less and a bachelor’s degree (+18 percent) compared to having a bachelor’s degree and a master’s degree (+8 percent).
Salaries also vary by company type and region, with those working at a for-profit company ($111,000) earning higher average compensation than those at non-profit companies ($95,000). Those living in the Northeastern ($118,000) or Western ($114,000) regions of the United States earn more than those in the Midwest ($105,000) or South ($96,000).
Stay tuned for more info on benefits buyers receive and satisfaction levels with overall compensation packages.