Assessing Salary and Benefits in the Yachting Industry: A Balanced Discussion on Compensation,Training and Retention

Promoted by a LinkedIn post on the Human Capital Superyacht Sausage Factory, a comprehensive survey has been conducted, gathering insightful thoughts from crew members, captains, yacht managers, and recruitment professionals. The purpose was to gain industry-wide insights on rather elusive subjects such as salaries, benefits, training, and retention in the yachting industry. Unlike conventional business sectors, a compelling debate seems to linger around the adequacy or stagnation of crew salaries in this niche industry. While some are convinced that crew members are satisfactorily compensated, others highlight decades of unchanged entry-level pay despite the scale and complexity of operations increasing. They argue for improved financial incentives and believe that remuneration should reflect experience, leadership commitments, and actual responsibilities. Benefits, or the perceived lack thereof, are also a cornerstone of the controversy. Although health cover, pensions, structured time off, and mental health support are highlighted as areas for improvement, some yachts stand out, offering training budgets, rest days, global medical cover and even family-inclusive health plans. Nonetheless, majority participants agree that these are yet to become the industry norm. The training cost burden is another topic of heated discussion. While crew members generally bear the brunt of the expense in the early stages, anecdotal evidence suggests that owner-paid training fosters long-term loyalty. However, the consensus is that such supportive gestures are often undervalued. Alternate views suggest staggered reimbursements over time, structured training pathways, and bonus-linked development plans as preferred models. These findings underscore the complexity of compensation dynamics in the yachting industry, challenging the known narratives and paving the way for constructive dialogue and revolutionized practices.