The Maritime HR Association has just published a market report on Corporate Services staff working within the maritime industry. The report looked at salaries of over 5,000 Finance, HR and IT professionals with data reported by 95 members across 65 countries. We’re pleased to be able to share some key findings below:
• Of the 3 corporate job families, Finance is typically the biggest – followed by IT and then HR.
• Most staff are employed in key hubs around Singapore, the USA, India and the UAE. Salaries and bonuses were generally highest across North America.
• Much like the rest of the shipping workforce, corporate staff working in the dry bulk industry receive lower salaries in general than their tanker colleagues.
• Oil major and commodity groups tend to pay well in general, but they also employ their corporate staff in high cost locations such as Singapore and therefore pay higher median base salaries when compared to shipowners and shipmanagers.
• Finance staff with both corporate and marine experience earn the most, with marine the salaries the lowest and corporate somewhere in between. The same analysis for the IT family showed no consistent pattern.
• HR staff were most likely to receive a bonus payment, with 75% of eligible employees receiving bonuses with a median value equivalent to 14.5% of salary - fairly evenly spread across all job levels.
• A significantly higher proportion of men work within the IT function, compared to a larger proportion of women in Finance and HR. Analysis by job level showed women most likely to be employed at the junior levels, with the proportion of women then decreasing in line with seniority (much like the broader Maritime HR Association salary survey data shows).
The Maritime HR Association will soon be collating their shore-based salary data for 2017, so if you’d like to participate please get in touch.
Any Senior Executives and HR professionals reading this may also be interested in the annual Maritime HR Association Conference taking place in London on 18th & 19th May 2017. Non-members of the association are welcome and can purchase tickets here.
Sarah Hutley, Compensation & Benefits Analyst, HR Consulting, Spinnaker Global