- Overall salaries continue to rise in travel industry
- But complex picture emerges
- Recruitment activity dips
Another big rise for travel wages
The average salary for a new job in the travel industry jumped by 12.86 per cent in the first half of the year, according to the 2024 H1 Travel Salary Index from C&M Travel Recruitment which surveyed all new vacancies registered with the company during the timeframe.
The increase means that the average wage for a new travel job stands at £37,747 and has risen by £4,302 since the first half of 2023. The increase follows a similar rise of 12.58 per cent in the first six months of last year.
However, when breaking down the data, a more complex picture emerges. Much of the increase appears to be due to the large number of roles with salaries between £40,000 and £55,000 which skewed the overall figure upwards.
Despite this, the lack of new roles above £60,000 caused the average senior travel salary (those paying £40,000 and above) to drop. With a figure of £53,925, senior wages fell by 8.19 per cent at the start of 2024 following a 17.03 per cent hike in the same months last year.
At the other end of the scale, pay for standard travel jobs (those paying below £40,000) rose by 6.78 per cent to stand at £31,275. This is a rise of £1,985 from the start of last year and follows an increase of 5.99 per cent in the first half of 2023.
In the business travel sector, salaries rose by 12.52 per cent (or £4,012) in the first half of 2024 to reach £36,046 following an increase of 9.23 per cent in the same months of last year. However, the business travel jobs market has slowed considerably at the start of 2024 with a 61 per cent reduction in the number of candidates being placed in new corporate travel roles.
Activity falls from 2023
After the hot start to the early months of 2023, travel recruitment activity dipped in the first half of 2024. The number of new candidates fell by 11 per cent compared to the same months in 2023, while new vacancies decreased by 34 per cent and the amount of new travel jobs being filled fell back by 32 per cent.
Speaking about the stats, Barbara Kolosinska, Director at C&M Travel Recruitment, said: "On the face of it, salaries in the travel industry are increasing by double digits year after year, which is fantastic news, but this isn't the full story. Wages are certainly rising for some in-demand roles and we are seeing an increasing number of positions that are now offering very attractive salaries in the £40,000 to £55,000 range. This is excellent news for candidates at this level who now have a range of roles offering salaries at the same level as similar positions in different industries.
"However, after the big hike in pay for lower-level roles that we saw following the pandemic, wage growth for many of these positions has now stalled. This gives these employees little incentive to re-enter the jobs market and change roles.
"The year has also seen an overall dip in recruitment activity in the travel industry due to a combination of factors. After the pandemic, there was an unprecedented increase in travel recruitment between autumn 2021 and spring/summer 2023. Many companies filled long-term vacancies during this period using a significant amount of their recruitment budgets, and now have a smaller number of vacancies to fill. But with the recent general election providing clarity regarding the government's position going forward, we’re hopeful that this will inspire confidence and prompt many travel companies to broaden their recruitment plans."
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All figures are drawn from the salaries of new vacancies advertised with C&M Travel Recruitment.
C&M Travel Recruitment was established in 1998 and is the largest and most successful specialist travel recruitment company in the UK.
For further information please contact: Owen Mckeon (Marketing and Operations Manager - 0161 238 4497 / owen@candm.co.uk) or Barbara Kolosinska (Managing Director - 07507 602 069 / barbara@candm.co.uk).