ALEXANDRIA, Va., Nov. 20, 2014 /PRNewswire-USNewswire/ -- The majority of travel buyers (72 percent) are satisfied with their salaries, with average total compensation climbing six percent higher this year to $112,000, according to findings released today from the GBTA Foundation's annual 2014 Travel Management Compensation and Benefits Survey. On average, those with a Global Travel Professional (GTP) certificate earn more than those without one, 12 percent more in 2014. One in five buyers has earned their GTP certification.
The GTP Certification is designed to raise industry standards, enhance work performance, and recognize individuals who demonstrate core competencies essential to the business travel management discipline.
Average compensation tended to rise with an increase in travel spending, highlighting a relationship between total domestic travel spend of the employing company with total compensation (includes base salary and bonus). For example, respondents with total domestic travel spend of $10 million but less than $50 million reported an average income of $105,000, while those companies spending more than $50 million, reported an average of $143,000 -- a 27 percent increase.
While a number of valuable benefits are offered to buyers by their companies, few are fully funded. Most companies offer health insurance (98 percent), dental insurance (98 percent), life insurance (95 percent), vision insurance (95 percent), and a defined contribution plan (i.e., 401k) (95 percent), a majority report their company only covers a portion of the costs of each benefit. Most employees must pay for a portion of their insurance coverage.
However, three-quarters of buyers say their companies provide full reimbursement for all of the following benefits: conference attendance (90 percent); professional association dues (85 percent); professional publications (82 percent); and mileage (78 percent).
Large majorities also indicate that flexible work schedules (67 percent) and work-from-home policies (58 percent) are now offered as part of the benefit package.
"The 2014 Travel Management Compensation & Benefits Survey is designed to allow individuals to easily compare their compensation level and benefits with their peers," said Joseph Bates, vice president of research at GBTA. "We are encouraged that salaries and job satisfaction remain high in the travel buyer profession, further highlighting the importance of the overall travel management industry."
241 U.S., including members and non-members of GBTA, completed the online survey between September 23 and 30, 2014.
The 2014 Compensation and Benefits study is free of charge to all GBTA members. Non-members may purchase the report through the GBTA Foundation by emailing [email protected]. To view an abstract of this research, please click here.
About the GBTA Foundation
The GBTA Foundation is the education and research foundation of the Global Business Travel Association (GBTA), the world's premier business travel and meetings trade organization headquartered in the Washington, D.C. area with operations on six continents. Collectively, GBTA's 7,000-plus members manage more than $345 billion of global business travel and meetings expenditures annually. GBTA provides its growing network of more than 28,000 travel professionals and 125,000 active contacts with world-class education, events, research, advocacy and media. The Foundation was established in 1997 to support GBTA's members and the industry as a whole. As the leading education and research foundation in the business travel industry, the GBTA Foundation seeks to fund initiatives to advance the business travel profession. The GBTA Foundation is a 501(c)(3) nonprofit organization. For more information, see gbta.org and gbta.org/foundation.
SOURCE Global Business Travel Association