The 2015 Compensation and Benefits study reveals GTP Certification holders earn 8 percent more than those without it. Compensation rises with career level, education and company spend size.
ALEXANDRIA, VA – Travel buyer satisfaction with their salaries and benefits is on the rise as average total compensation for travel buyers climbed 5 percent year-over-year to $110,000, according to findings released from the GBTA Foundation, the education and research arm of the Global Business Travel Association. Median income also rose 6 percent over 2014 to $103,000.
The 2015 Compensation and Benefits study reveals GTP Certification holders earn 8 percent more than those without it. Compensation rises with career level, education and company spend size. 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).
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).
“The annual 2015 Compensation and Benefits study is designed to allow individuals to easily compare their compensation level and benefits with their peers,” said Joseph Bates, GBTA Foundation Vice President of Research. “While no two individuals will view a compensation package in exactly the same way, the study reveals benefits appealing to many very satisfied buyers providing a helpful guideline for companies when designing their benefit programs.”
Benefits
While a number of valuable benefits are offered to buyers by their companies, few are fully funded. Almost all companies offer health insurance (99 percent), dental insurance (99 percent), vision insurance (96 percent), life insurance (93 percent), a defined contribution plan (e.g. 401k) (93 percent) and short-term disability (90 percent). A majority of employees say their company only covers some of the costs of each benefit.
Satisfaction
Three quarters of buyers are either very satisfied (27 percent) or satisfied (49 percent) with the compensation packages provided by their companies. This continues a trend from last year of rising satisfaction causing those who are neutral (15 percent) or dissatisfied (8 percent) with their compensation to shrink.
Very satisfied travel buyers more often receive cell phone reimbursement, flexible work schedules and the ability to work from home when compared to buyers overall. In addition, they also work for companies that cover the full cost of grants of company stock, cell phone reimbursement and parking.
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She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
