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11 July 2012 | Adam Leach
The average travel buyer in the UK pockets £50,588 a year in base salary, rising to £60,464 when adding bonus and benefits, according to the Institute of Travel & Meetings.
Salary Survey 2012, the inaugural study on travel buyer remuneration by the ITM, found base salary accounted for 84 per cent of the total package for the average buyer with benefits making up 9 per cent and bonus making up 7 per cent.
The study, which was based on the anonymous responses of 127 ITM members, found travel buyers in the pharmaceutical sector earn almost £20,000 more on average in terms of total pay. The average overall package in the sector was £87,730, significantly above the second highest paying sector of finance/insurance with an average of £68,448. The lowest paying sectors were education, with an average of £36,622, and the charity sector, averaging £39,954.
Speaking at the launch of the report, Simone Buckley, CEO of the ITM, said: “Our average buyer has a package of £60,464, is aged between 36 and 45 with six to 10 years’ experience, a procurement background and is located in the South East.”
The findings suggested there are a number of key factors driving salaries in the sector. The size of company, size of spend, number of travellers and an individual’s overall budget responsibility were found to be linked to how much a buyer gets paid. The level of responsibility and geographic location were also found to play a part.
The study also found that CIPS qualified buyers receive higher salaries. The average package for qualified buyers was £62,703 compared with £60,121 for non-qualified buyers.