Insitute of Business Travel Management Releases Industry Compensation Survey Results
In response to requests of the membership of the National Business Travel Association, the Institute of Business Travel Management (ITBM) has conducted a comprehensive salary and benefits survey for corporate travel management. The research was conducted in the spring of 2001 and focused on three primary areas: responsibilities, compensation, and benefits. The report was designed to allow individuals to compare compensation levels and benefits with their peers. IBTM contracted with Industry Insights, a professional research and consulting firm, to conduct the research and to compare: - Compensation based on title, geography, corporate size, years' experience, T&E budget, and more. - Responsibilities by title and corporate size. - Retirement plans, stock options and other incentives/bonuses. - Other benefits including insurance, leave, professional training and more. Survey highlights include: - Average total compensation for all respondents is $74,073. - Compensation showed a clear correlation with sales volume of the employing company, size of travel and entertainment budget, and years of travel management experience. - Overall, 63 percent of respondents were either satisfied (49 percent) or very satisfied (14 percent) with their compensation. - The vast majority of respondents reported spending their time on a variety of strategic responsibilities, including negotiating with travel vendors, administering corporate travel programs, developing and administering travel policy, evaluating new technology, benchmarking, and budgeting. - Ninety percent or more of respondents received all of the major types of insurace, the majority requiring a joint contribution by the employee and employer. - The average respondent reported receiving nearly four weeks' vacation and two weeks' sick leave. To obtain a copy of the report, or for more information, visit www.ibtm.org.
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