Business aviation salaries ‘will continue to rise’: NBAA
Business aviation salaries will continue to rise, driven by competition for talent and inflation, according to the latest survey from National Business Aviation Association (NBAA).
Over the past year, average salary budgets climbed by 42% and were 13% up on the actual salaries spending in 2021. Smaller organisations reported larger budget increases, while bigger organisations recorded the smallest budget increases.
“The business aviation community operates in a new world, where competitors are just as likely to be Part 121 operators as they are other flight departments or management companies, and where the salaries of every legacy carrier, ultra-low-cost airline and cargo operator are shared as very public infographics on social media,” said Jo Damato, senior vice president of Education, Training and Workforce Development, NBAA.
“As an industry, we must retain that experience because we need these leaders to keep business aviation strong and to be mentors and coaches for the next generation,” she added.
“Now, more than ever, it is imperative that flight departments appreciate that you can’t buy experience and that by accessing the data provided by NBAA’s Compensation Survey, they will be in a stronger position to retain their most valuable employees.”
Christopher Broyhill, aviation compensation expert and NBAA Business Aviation Management Committee Volunteer, said the survey provided key data on the strong demand for personnel as well as “some surprising results” that will help hiring managers and the broader business aviation community better understand private jet aviation as it is shaped by large numbers of new owners and users.
According to an unrelated NBAA workforce retention study, pilots reported leaving business aviation in favour of commercial airlines due to more predictable scheduling, better compensation, more generous retirement benefits and greater job stability.
The 35th NBAA Compensation Survey canvassed the views of 382 NBAA members employing more than 3,000 staff. The data was independently collected and audited by global accounting firm BDO.
NBAA Compensation Survey – at a glance
- Average salary budgets rise 42% over past year
- Salary budgets up 13% on actual spending in 2021
- Largest budget increases in smaller organisations