Bangkok--Jan 5--eTurbo news
Wellesley, MA) Salaries in the travel industry are rising, and education and professional certification demonstrably increase take-home pay and selling power. These were among the key findings of industry-wide surveys conducted by The Travel Institute, the travel industry's certification and professional development organization.
According to results from the 14th Annual Retailer Salary & Compensation Survey, Certified Travel Counselors (CTCs), the backbone of The Travel Institute, beat the survey average for income by more than $3,000, with an average compensation of $35,555. CTCs significantly outperformed non-CTCs in earning power in all three retailer job categories-frontline, owner/manager, and executive. Sales numbers for CTCs outperformed non-CTCs by $176, 670, with the average CTC selling $640,490 of travel personally in 2004. CTCs took home $5,415 more in 2004 than retailers who have not earned the CTC certification.
Specialization also continues to be a key factor in shaping retailer earning power. Retailers who focused on one or more sales specializations in addition to general travel sales increased their earnings by $2,088 over 2003.
As the travel industry continues its rebound, retailers' sentiments are reflecting a positive change. Eighty-six percent of respondents said they were happy in their current positions, a 7 percent increase from 2003, and 87% said they plan to remain in the travel industry for the rest of their careers. Education is also on the upswing. Ninety-two percent of retailers participated in some type of educational activity in 2004, up 5 percent from 2003, including 60 percent of respondents who participated in a formal certification program. The most popular options for education and training included FAMS, supplier and/or destination sponsored seminars, travel industry conferences and trade shows and in-print education in an industry publication.
Half of all supplier respondents took home more money this year than they did in 2003. The retail segment is clearly feeding its talent to the major supplier companies. More than one-third (38 percent) of travel supplier executives, who averaged $103,420 in annual pay in 2004, came from the travel retailing side of the industry. Suppliers are also increasing their education and training, with 62 percent participating in some educational course, activity or certification program in 2004. Half of all suppliers surveyed plan to work in the supplier sector they are currently employed in for the remainder of their career and 60 percent would recommend a career in the travel industry to others.
For more Salary Survey results, visit www.thetravelinstitute.com. Travel Professional magazine is distributed to members of The Travel Institute six times per year. To join The Travel Institute, visit its Web site or call 800-542-4282.
Established in 1964, The Travel Institute serves as a community of knowledge and insight for all travel professionals. Through innovative education programs, professional certifications and customized learning solutions, The Institute fulfills its non-profit mission to promote a standard of industry knowledge and excellence. For more information about The Travel Institute visit www.thetravelinstitute.com.
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