ConventionSouth magazine is the leading resource for meeting planners who book all types of events, conventions, conferences and group travel in the south.
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D E C E M B E R 2 0 1 4 ⎜ ConventionSouth ⎜ 7 w w w . c o n v e n t i o n s o u t h . c o m 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 Global Business Travel Association (GBTA) Foundation's annual 2014 Travel Management Compensation and Bene- fits Survey. On average, those with a Global T ravel 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 in- surance (95 percent), and a defined contribu- tion 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. ■ SURVEY: Compensation Up For Travel Management Pros Travel buyers report that their companies provide full reimbursement for all of the following benefits: ■ conference attendance (90%); ■ professional association dues (85%); ■ professional publications (82%); ■ and mileage (78%). INSIGHT IDEAS