The travel industry’s salary landscape is evolving with notable changes.
- Average pay for new travel roles surged by 13% in early 2024.
- Senior travel positions saw pay reductions despite overall salary increase.
- Travel recruitment activity significantly decreased in the first half of 2024.
- Market shows a mixed outlook with fewer high-paying roles available.
The travel industry has experienced significant salary growth, with average pay for new travel roles rising by nearly 13% in the first half of 2024, reaching £37,747. This increase is largely attributed to a substantial number of roles offering salaries between £40,000 and £55,000, skewing the overall figures upwards.
Despite the general increase in salaries, senior travel roles have not fared as well, seeing a decrease in average pay. With a figure standing at £53,925, senior wages fell by 8.19% at the start of 2024 following a 17.03% rise in the same period last year. The notable absence of roles above £60,000 has contributed to this downturn, highlighting a challenging environment for higher-level travel positions.
Travel recruitment displayed a marked decline, with employment activity dropping notably in the first half of 2024. The number of new travel job openings fell by a third, while the volume of new candidates decreased by 11% compared to the previous year. Consequently, there was a 32% reduction in the number of travel jobs being filled, painting a complex landscape for industry recruitment.
Standard travel roles with salaries under £40,000 experienced modest growth, with pay increasing by 6.78%, rising to £31,275. This figure reflects an ascent of £1,985 from the beginning of the previous year, following an earlier growth of 5.99%. Business travel salaries mirrored this trend, ascending by 12.52%, equating to a £4,012 increase and reaching £36,046, despite the slowed market for corporate travel jobs.
C&M director Barbara Kolosinska emphasized the dual nature of the current industry trends. She noted the double-digit salary growth for some roles as encouraging but pointed out that many lower-level positions now stagnate in terms of wage increases. Kolosinska remarked, “Wages are certainly rising for some in-demand roles,” yet cautioned that ongoing changes might not incentivize lower-level employees to seek new opportunities. She also mentioned a potential shift in recruitment activity following a recent general election, which may inspire renewed confidence for travel companies to expand their hiring plans.
Overall, the travel industry’s current trajectory reveals salary growth amid recruitment challenges.
