The majority of travel buyers (62%) are satisfied with their salaries, with average total compensation climbing five percent this year to $101,736 according to findings released from the GBTA Foundation’s annual 2011 Travel Management Compensation and Benefits Survey. Based on the responses of 255 corporate travel and meetings managers working in the U.S. and Canada, a large majority of travel managers (71%) also noted their travel departments haven’t seen job cuts related to the economy.
“Despite global economic challenges, job security and compensation remain strong for travel buyers,” said Craig Banikowski, GBTA Chairman. “Employers increasingly recognize that business travel is a strategic investment in growth and rely on their travel management teams to ensure a good return on that investment.”
Key Findings:
Salary
Compensation levels for travel professionals tend to increase as total domestic travel spend increases. In 2011 average compensation by title is as follows:
- Directors: 1% increase to $133,965
- Managers/ Supervisors: 11% increase to $101,250
- Coordinators/Specialists, Administrative Assistants: 5% increase to $62,514
- In addition, two out of five respondents (40%) say their employer offers a stock option plan.
Responsibilities
- Travel managers are increasingly responsible for global programs, with 69% of respondents indicating their program covers travelers based in other countries vs. 54% of respondents in 2010.
- The role of travel managers is multifaceted. Classic duties include: negotiating with travel vendors (95%); administering corporate travel programs (91%); and developing and administering travel policy (84%).
- Buyers also have responsibilities in other areas such as technology, including evaluating and applying new technology to travel management (80%) and developing travel risk management/travel security programs (50%).
Professional Development
- Nearly 90% of respondents reported their convention attendance and professional association dues are benefits paid in full by their employer.
- Nearly eight out of ten (78%) said their employers also covered continuing education.
“Companies recognize that travel managers are the key to developing and implementing strategic travel management programs and are investing in their continued education,” Banikowski concluded. “Through professional development, business travel buyers will continue to improve their knowledge and skills, expanding their ability to support corporate travelers and help maximize the value of their companies’ travel programs.”
The 2011 Travel Management Compensation and Benefits Survey from the GBTA Foundation is an annual report based on the responses of 255 corporate travel and meetings managers working in the United States and Canada. The report is designed to allow individual travel managers to compare their compensation levels and benefits to those of their peers. The report provides detailed data on respondents’ gender, job titles, professional certification, years of experience, and more.
Source: http://www.traveldailynews.com/
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