Travel buyers at WTM London.
The largest gap in compensation can be attributed to position level. Directors and executives earn an average of $146,000, which is 40 percent more than managers’ average compensation of $105,000.
Average compensation for U.S. travel buyers saw a 5.5 percent year-over-year increase in 2017, reaching an average of $107,000, according to new findings released yesterday. Median salaries are also up, increasing 7.5 percent to $98,000.
The GBTA Foundation’s 2017 Compensation and Benefits study delves into salaries, bonuses and benefits for U.S. travel buyers and reveals differences in compensation based on a variety of factors including experience, region, position, company travel spend, and gender.
Compensation disparities
The largest gap in compensation can be attributed to position level. Directors and executives earn an average of $146,000, which is 40 percent more than managers’ average compensation of $105,000. Similarly, managers earn 33 percent more than entry-level/experienced buyers ($79,000).
Income also varies based on region. On average, buyers earn more in the Northeast ($119,000) and West/Pacific ($115,000) than in the South ($99,000) and Midwest ($97,000).
2017 Total Compensation Averages
Averages rounded to the nearest thousand (averages rounded to the nearest thousand)
Surprisingly, there is no major difference in compensation between those who have an associate’s degree or less and those who have a bachelor’s degree. This contrasts with last year’s study, which revealed a difference in compensation between the two education levels.
The study also revealed GTP® Certification holders earn an average of $112,000, which is nearly six percent higher than their counterparts who lack it. The Global Travel Professional® (GTP) Certification is designed to raise industry standards, enhance work performance and recognize individuals who demonstrate core competencies essential to the business travel management discipline.
Satisfaction
Although nearly three-quarters (73 percent) of buyers are satisfied with their compensation, satisfaction levels have remained flat since 2014. In line with the past three years, only 11 percent are dissatisfied with their compensation.
Benefits
In addition to bonuses and salaries, buyers are offered a variety of benefits intended to improve the quality of their overall health and well-being. Virtually all companies provide health insurance (98 percent), dental insurance (96 percent), vision insurance (92 percent), life insurance (91 percent), and a defined contribution plan (e.g. 401k) (91 percent), though few are fully funded.
Tax-advantaged health accounts are widespread, and a majority of buyers indicate their company offers health savings accounts (82 percent) and flexible spending accounts (80 percent).
Three out of five (62 percent) companies allow buyers to work from home and even more (73 percent) are granted flexible work schedules. Additionally, more than one-half (55 percent) offer gym memberships or discounts.
During special circumstances, most buyers are permitted to take additional leave. Companies frequently provide bereavement (93 percent) and maternity leave (83 percent), and one-half (51 percent) provide paternity leave. Although this is consistent with last year’s findings, the portion of companies that offer paternity leave is higher today than in 2014 (32 percent) and 2015 (38 percent).
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
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.
