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‘How is the superyacht job market?’ This is one of Wilsonhalligan’s most frequently asked questions. Or, even more common is ‘What is the Superyacht Captain’s job market like?’
The job market itself has been active. Actually, it is currently the most competitive they have ever known it to be. At the moment, it is not uncommon to see 200+ applicants on a Jobsite posting within 24 hours.
Is COVID To Blame?
It can shoulder some of the blame. Many yachts cut costs and rotations during 2020, but vessels were back in operation again a few months after the world went into lockdown. There has never been this much activity with the brokerage market. And new builds, although delayed, are still being delivered.
The Job Market for Superyacht Captains
For superyacht captains, ultimately, it’s a Simple Math Problem. The number of qualified Captains outnumbers the total amount of yachts in the world. These numbers are based on Wilsonhalligan’s place in the yacht job market and from Boat International. Records show there are 5000 yachts between 24m and 50m, with nearly 800 over 50m. With Some Captain careers spanning over 30 years, the number of Captains available evidently surpasses the number of yachts. When you get to that career point looking to be over 50m, you are looking at less than 1500 Captains jobs if most were rotational. In reality, it would be more like 1000/1200 jobs worldwide.
The finger is often pointed at the recruiter for advertising positions below the average salary (what is an average yacht salary anyway?). Or because they’ve advertised a position that asks for a specific language skill. This is no different from when Captains ask for crew members who can speak a particular language. Ultimately, it comes down to the owner’s request. When and where possible, Wilsonhalligan will always ask what job advertisers can be flexible on. Say a yacht job is advertising for a Captain with 60m experience. There could be someone who is the right fit, but they have 50m experience. They will do what they can to make the owner/manager look past this sticking point and at least see if they can get them to interview the candidate.
So How Is The Superyacht Job Market For Captains?
It is honestly tough at this moment in time. You must be active in the market but avoid saturation of your CV– speak to only 2-3 recruiters who you trust and may have access to otherwise unknown positions. On the plus side, builds are busier than ever, and there is a movement within the market.
Keep in regular contact, make sure your CV is as good as possible, and feel free to call Wilsonhalligan any time for further advice and guidance on this topic.
See their other blogs for further reading and tips:
Yacht Crew Agencies & How to get the most from them
And for more of the latest industry news, click here.
