Travel Salary Index - February 2020
Travel Salaries Rise But Coronavirus Hits Recruitment
C&M Travel Recruitment and C&M Executive Recruitment’s
Travel Salary Index – February 2020
- Travel salaries jump to near record high
- Number of placements reaches 11-month high
- New candidates and vacancies both see double digit drops
Strong month for travel wages
The average salary for a new travel job jumped by 2.51 per cent in February to stand at a near record high, according to the latest Travel Salary Index from C&M Travel Recruitment and C&M Executive Recruitment which surveyed all new vacancies registered with the companies during the month.
The figure of £29,049 is just £237 below July 2019’s record and is up by a huge 9.7 per cent from February 2019, which is the biggest year-on-year rise since December 2018. Average salaries are also up by a strong 5.12 per cent on the rolling 12-month average.
The increases were largely a result of wages for travel jobs based in the north of the UK rebounding to their highest level since last July, as well as an increase in the number of senior placements (roles paying above £40,000) which led to the average executive wage jumping to its highest level since May 2019.
Salaries for the standard job in travel (those paying up to £40,000) dipped by 2.55 per cent in the month to stand at £25,665, however this remans well above the 2019 average of £24,942 and is up by 5.74 per cent from February 2019.
Coronavirus begins to hit market
The number of placements in February rose to its highest level in 11 months despite worries about the coronavirus becoming more widespread as the month went on. However, the virus had a clear impact on the number of new vacancies and candidates, with February’s totals seeing double digit falls from the previous month as well as compared to February 2019.
Speaking about the stats, Barbara Kolosinska, Director at C&M Travel Recruitment and C&M Executive Recruitment, said: “It was a strong few weeks for travel salaries which topped £29,000 to reach a near record high, however this is only half of the month's story.
"Towards the end of February, we began to notice a drop in activity as news about the coronavirus spread, and that impact is certainly more pronounced now. A large number of firms are putting their plans for business travel on hold and this is having a direct impact on many companies in our industry. As a result of these continued worries, we thoroughly expect March's data to show a significant drop in recruitment activity but we must hope that any impact remains short-term.
"Although some companies are putting their permanent recruitment plans on hold for the time being, the industry is likely to experience a large degree of volatility over the next few weeks. Therefore, we would recommend they consider taking on temporary staff in order to accommodate any spikes in activity because this has proven to be an effective short-term remedy during previous global challenges."
All figures are drawn from the salaries of the month’s new vacancies advertised with C&M Travel Recruitment and C&M Executive 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 (Content Manager - 0161 238 4497 / firstname.lastname@example.org) or Barbara Kolosinska (Director - 07507 602 069 / email@example.com).