Salaries in the UK business travel sector rose by 12.5 per cent in the first half of 2024, despite a “considerable slowing” in the number of placements so far this year.
Figures from C&M Travel Recruitment show that the average salary for a corporate travel role rose to £36,046 in the UK, which is on top of a rise of 9.2 per cent a year ago. This increase in salary comes despite a 61 per cent fall in the number of people being placed in new positions within business travel.
The increase in salary in the corporate sector is in line with the whole UK travel industry, which saw a 12.9 per cent year-on-year rise to reach an average of £37,747 for the first six months of 2024.
C&M noted that while salaries are rising, the industry is now seeing a more “complex picture” for recruitment with overall activity dipping year-on-year.
Barbara Kolosinska, director at C&M, added: “On the face of it, salaries in the travel industry are increasing by double digits year after year, which is fantastic news, but this isn't the full story.
“Wages are certainly rising for some in-demand roles and we are seeing an increasing number of positions that are now offering very attractive salaries in the £40,000 to £55,000 range. This is excellent news for candidates at this level who now have a range of roles offering salaries at the same level as similar positions in different industries.”
Kolosinska added that increases in salaries for lower-level roles, which initially saw a “big hike” following the pandemic, had now stalled.
She also attributed the fall in recruitment levels to the fact that many companies had now filled long-term vacancies after Covid, which meant they now had fewer positions to fill.
“But with the recent general election providing clarity regarding the government's position going forward, we’re hopeful that this will inspire confidence and prompt many travel companies to broaden their recruitment plans," said Kolosinska.