Yacht Crew Salaries: The Current State

The topic of salaries in the yachting industry has gained attention this year, with a growing sense of awareness and discussion. Louisa had the opportunity to speak with several dedicated crew members who have shared their thoughts and concerns about this matter. With the ever-changing economic landscape, it’s crucial to assess whether salaries for yacht crew have adapted to these shifts in a positive direction.

A comprehensive analysis of Dockwalk’s salary surveys over the past several years reveals a rather consistent pattern spanning a 15-year period. Specifically, when comparing salaries in euros for a 50-meter yacht between 2008 and 2023, certain trends emerge. In the case of Captains, the industry average in 2008 ranged from 7,000 to 10,000 euros per month, while this year, it has extended from 7,000 to 15,000 euros per month. Similarly, Chief Engineers in 2008 were earning an average of 5,000 to 7,000 euros per month, whereas in 2023, their earnings range from 5,000 to 10,000 euros per month. It is noteworthy that while the lower-end salaries have remained relatively consistent, the upper-end figures have witnessed a significant increase, aligning more closely with industry expectations.

While the top-end salaries can be attributed to experience and longevity, it remains pertinent to question why the baseline salaries have remained at their current level. This inquiry may stem from the various factors related to job availability and individual crew preferences. It’s possible that, after a period of uncertainty, many crew members are now placing a higher value on the stability of full-time positions over seeking higher pay.

Engaging with numerous crew members who express diverse expectations and requirements underscores the challenge of establishing industry standards, especially considering the growing prevalence of rotational contracts. A notable example illustrates this complexity: I recently met a Captain who was perplexed by the stark disparity in his salary compared to that of a colleague. However, one crucial aspect he overlooked was that his counterpart had been with the same owner for four additional years, underscoring the significance of longevity in this profession.

Furthermore, entry-level crew members are facing their own set of challenges. Green crew are currently being offered a monthly compensation of 2,000 euros, which is nearly the same from 15 years ago when it ranged from 2,000 to 2,500 euros.

While the average monthly compensation for green crew hasn’t seen substantial growth over the past 15 years, it’s essential to acknowledge the rising costs associated with crew housing, food, and travel. In this light, exploring creative solutions to improve the financial well-being of entry-level crew members is a valuable consideration.

While the topic of salary stagnation in the yachting industry has raised concerns, there is also a silver lining. Salaries for experienced crew members have been on an upward trajectory, and the industry is evolving to accommodate different needs and preferences. By focusing on the positive aspects of these changes, we can look forward to a brighter future for all members of the yacht crew community.

Download our Crew Salary Guideline PDFs in Dollars and Euros for more helpful information.

With our presence established in the key yachting hubs worldwide, we stand ready to address all your crew-related requirements. Don’t hesitate to reach out and schedule a consultation with one of our dedicated N&J Crew team members today!