Job security and compensation remain strong for travel buyers according to findings released from the Global Business Travel Associations (GBTA) Foundation’s annual 2011 Travel Management Compensation and Benefits Survey.
A large majority of travel managers (71 percent) noted their travel departments haven’t seen job cuts related to the economy. with a majority of travel buyers (62 percent) satisfied with their salaries, the GBTA reports.
Average total compensation climbed five percent in 2010 year to $101,736. The survey is based on the responses of 255 corporate travel and meetings managers working in the U.S. and Canada, GBTA reports.
“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 GBTA Findings:
Compensation levels for travel professionals tend to increase as total domestic travel spending increases. In 2011 average compensation by title is as follows:
• Directors: 1 percent increase to $133,965
• Managers/ Supervisors: 11 percent increase to $101,250
• Coordinators/Specialists, Administrative Assistants: 5 percent increase to $62,514
• In addition, two out of five respondents (40%) say their employer offers a stock option plan.
• Travel managers are increasingly responsible for global programs, with 69 percent of respondents indicating their program covers travelers based in other countries vs. 54 percent of respondents in 2010.
• The role of travel managers is multifaceted. Classic duties include: negotiating with travel vendors (95 percent); administering corporate travel programs (91 percent); and developing and administering travel policy (84 percent).
• Buyers also have responsibilities in other areas such as technology, including evaluating and applying new technology to travel management (80 percent) and developing travel risk management/travel security programs (50 percent).
• Nearly 90 percent of respondents reported their convention attendance and professional association dues are benefits paid in full by their employer.
• Nearly eight out of ten (78 percent) 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.”