Salary gap for technical jobs lessens
Recruiter Faststream says superintendents can expect to earn virtually the same in Europe or Asia.
Salaries are similar for both Asian and European technical superintendants regardless of whether they take a job in their home region or overseas, reveals a new report.
Despite perceptions to the contrary, there is virtually no difference in average salaries, although there remains a wide spread in pay reflecting seniority and responsibility.
Maritime recruitment specialists Faststream says demand for technical shipping jobs has improved considerably in the first three months of 2010.
It will give optimism to all those whose career development plans were interrupted by the global recession.
"We have seen confidence return to the market," said Faststream boss Mark Charman, "and more than just the first green shoots of spring emerging." He added: "We may not be basking in hot sunshine yet but the worst of the bleak frozen winter is certainly behind us." The more positive feeling in the general economy, and in particular the ending of the sense of panic prevalent in 2008/09, has led both companies and candidates to come out of their shells and begin sniffing around for new opportunities, says Southampton headquartered Faststream in its latest review of technical shipping jobs.
In a survey of technical roles it has recently filled with candidates, Faststream found a European technical superintendent could expect an average salary of £54,359, as compared with £54,048 ($81,500) for an Asian colleague.
By location, the average salary in Europe was £54,804, as against £53,064 in Asia.
Within this range, there remains a huge scope from £27,000 for a European superintendent in Asia to "a very attractive salary package" of £150,000 for an Asian technical superintendent in Asia on an urgent LNG-newbuilding project.
In Europe, Faststream says there remains a shortage of experienced ex-seafarers who are ready and able to fill the countless shore-based roles available to them.
And good technical people know their salaries will go further if they move to Hong Kong, Singapore or Dubai.
"However, we do advise our candidates to think carefully about the longer hours typically expected in Asia and the well-funded European healthcare, pension and insurance system, which is generally very generous when compared with other parts of the world," Faststream said.
Asia has seen a particular surge in demand for technical staff with experience of the offshore sector, with new start-ups offering attractive salaries and equity stakes.
Several new dry-bulk operations opening new offices in Singapore have been seeking technical staff, the Indian market also continues to grow, while Asian yards seek European staff to liaise with European owners and design houses.
"Indeed, demand for technical superintendents is so strong that for the first time we are being asked by clients to undertake 'retained searches' for technical superintendents, something we have been more used to doing when placing managing directors and other senior commercial executives," said Faststream.
In Europe, technical consulting companies are continuing to recruit high-level staff, although classification societies remain very quiet.
Tanker owners have been recruiting, while containership companies are starting to slowly hire again after the freeze of 2009.
With the pressure on shipmanagers' costs, they are seeking good technical staff who can deliver creative ways to make money in a tough market.
"The UK market is suffering from the weakness of the pound in comparison to the euro and UK-based firms are having to up their packages to attract mainland Europe candidates to come across," Faststeam said.
Charman said: "People change jobs for one of two reasons: something changed or something didn't. Whether it is pay, future prospects or office politics, people who last year felt that on balance a secure job was better than an insecure job, are now beginning to contact us.
He added: "The general sense of greater confidence in the economy has made its way down to increased movements across the technical shipping market."
By Julian Bray London