Much has been talked about superstar salaries earned by superyacht crew and for many years our own database was used by yacht magazines as the most accurate window into the subject.
Now a new peer-to-peer salary comparison website for the yachting industry promises to be even more accurate than our old system and will undoubtedly add a greater level of subject transparency.
Set up by crew agency YPI Crew based in Antibes, www.yachtingsalaries.com has attracted over 100 salary entries since launching just a few weeks ago, quickly establishing the site as offering the most comprehensive and up-to-date salary data available within the global yachting industry.
Best of all, the salary data is free for anyone to access.
Put simply, it’s a form of sharing crew provide accurate and anonymous salary data by answering a few questions about their current role, and in return they get access to all the salary information shared by other members of the yachting community.
As salary data is entered by members of the community, the site works on an honesty system.
There is really no incentive for contributors to mislead people about what they earn. Any inflated or inconsistent salary entries can be ‘flagged’ as suspicious by other members of the community or by YPI Crew and quickly removed from the system to ensure the accuracy of data is maintained.
The site also makes use of the median (as opposed to the average) to report cumulative salary results, helping to lessen the impact of any ‘extreme’ salary entries.
So far the yachting community has embraced the concept with open arms.
One of the other key differences of the site over the traditional ‘once a year’ salary survey is that salary data is continually added by site visitors on a daily basis, with the salary database updated in real time and available for instant searching.