Spinnaker’s shore-based salary survey is in a unique position in the maritime industry in that we have access to thousands of lines of remuneration data in the sector.
We have been publishing salary surveys for nearly 20 years’ meaning we have a wealth of demographic data to compare giving our clients unrivalled access to industry insight.
Over the past few years, we have heard from clients how the changing demographics in the maritime industry is impacting their business.
But what is the change and why is it happening?
In 2016, our salary survey showed that 6% of all Technical and Marine staff were based in India compared to 12% in the UK.
Compare this to 2024 where we now see 19% of all Technical and Marine staff based in India and just 9% in the UK.
Technical & Marine roles have also declined in Singapore by 5% and 2% in the UAE.
These may not seem like large percentage differences, but a drop of just 1% equates to over 60 professionals, suggesting this is starting to become a real issue.
Whilst us Brits might dream of moving to warmer climates especially during the dark and damp winter months, this isn’t the only thing fueling professionals and company moves outside of the U.K.
Brexit has seen net migration from the European Union drop to its lowest levels since 2013. The rise of lower tax locations outside of the UK has seen professionals look abroad for a better take-home salary and compensation package.
Another element is the lack of home-grown talent for Technical & Marine roles. Spinnaker’s recruitment division still see a high percentage of superintendent positions which require seafaring experience despite the fact that according to the UK Government website, the number of British seafarers had decreased by 8% in 2021.
You can find out more regarding the salary insight that Spinnaker have by contacting a member of the team.