Spinnaker are pleased to announce that the first shore-based Salary Survey market analysis report from 2019, focusing on pay for charterers and freight traders globally, has been released to members of the Maritime HR Association.
60 Association members reported data for chartering and freight trading professionals across 35 countries. The market analysis report focuses on base salaries, bonuses and total compensation packages.
As was expected, freight trading salaries remain higher than chartering at all job levels. Singapore and the USA pay their chartering and freight trading staff the highest.
When it comes to bonuses we see that charterers at Junior / Trainee and Professional level are paid higher but freight trader bonuses at Manager and Head of / Director Level are considerably higher than their chartering counterparts.
As freight traders progress their careers to higher positions the percentage differences become more apparent. This difference in salaries seen at the more senior end reflects the higher levels of risk to which freight traders are exposed and therefore the potential profits (as well as losses!) they can make for their companies is reflected in their pay.
With regards to gender, only 15% of freight traders and 19% of charterers are reported as female and the majority of these women work in Junior/ Trainee and Professional level positions.
The way chartering and freight trading teams are comprised is very similar, as for every Head of / Director there are ‘typically’ three Managers, between three and four Senior Professionals, three Professionals and one Junior/Trainee.
To find out more about shore-based salary benchmarking and membership of the Maritime HR Association which will enable you to access the full report, please contact our benchmarking team at [email protected].