Superyacht salaries are rising, including captains’ pay.

Are superyacht crew salaries finally gaining momentum? According to several crew agents, the answer is yes. 

Since COVID-19, captain salaries have increased, said Diane Leander of The Crew Network in Fort Lauderdale. “They stayed stagnant for many years at around $1,000 to $1,200 per foot. Now, most captains are asking $1,200 to $1,500-plus per foot.” 

According to Sharon Rose of Bluewater, captain salaries have consistently risen over the past 10 years, particularly at the higher end of the spectrum. Although amounts depend on factors such as vessel size and program demands, 10 to 20% increases are common. “Senior captains with build experience, charter exposure, or expedition credentials often ask for more,” she said. 

Linda Leathart of Following Seas Recruiting has also noticed a recent uptick, particularly over the past year or two. She notes that owners can be more flexible — for the right candidate. “[Owners] realize what they’re getting, and if it’s going to be another $2,000 or $3,000 a month for the right candidate to look after their multi-million-dollar asset? Sure.” 

Leathart is also noticing a trend for higher salaries on smaller vessels, with captains of boats under 40 meters earning big-boat pay. “The pay has gone up exponentially,” she said. For example, a captain on an 85-foot vessel currently receives $11,600 monthly; another 70-footer is being paid what has traditionally been seen on much larger boats over 110 feet. Captains are demanding these salaries — and getting them. 

Are Salaries Keeping Pace?

Despite these increases, some agents say salaries still lag behind the job’s growing demands and inflation.

“Captains have a huge responsibility,” Leander said. “They’re basically the CEO of a multi-million-dollar asset. The average CEO in America earns $171,000. [Captains] are responsible for running and managing a huge asset to the owner’s expectations. Safety [is] number one, but also crew management, regulatory compliance, maintenance, accounting, budgeting, route planning, and so on…” 

Rose agreed, adding, “The expectations have grown faster than the compensation in many instances.” 

Of course, there’s no one-size-fits-all magic number. Several factors affect salary, including vessel size, the captain’s experience and licensing, and longevity.  

Additional Benefits

Captains are asking for more than just a paycheck — rotation, additional leave, health insurance, bonuses, or annual increases are common. “In lieu of higher salaries, some owners are offering flights home, training budgets, discretionary bonuses, and private health coverage,” Rose said.  

Rotation can be tricky and is usually rare for smaller vessels, Leander said. It increases the vessel’s budget but improves quality of life for captains — on non-rotational yachts, demands on the captain’s time can reach up to 11 months a year. Leander noted that some captains are requesting at least 60 days of vacation. “The hours are long. They need a refresh to maintain a positive and productive program,” she said. 

Leander warned that attracting and retaining experienced captains may become more challenging as many seek a better work-life balance. 

According to Rose, rotation has become more common for vessels larger than 50 meters. This is a win for captains looking for work-life balance; for this reason, these roles attract top talent. “While rotational salaries are typically lower per month compared to full-time contracts, they often offer better long-term retention and job satisfaction,” she said. 

Of course, while rotation is a great benefit for captains, it comes at a steep cost to the vessel owner. As Leathart pointed out, it can double the captain’s salary budget, so not all vessel owners will offer the benefit. 

Leathart has noticed that more U.S. captains are looking for U.S. “corporate” benefits, such as 401(k) plans, excellent health insurance, and pensions. “It’s appealing for a lot of those captains to get the additional benefits and security that comes with all of those things, especially in the U.S.,” Leathart said.  

Job vs. Labor Shortages

While jobs are generally available, some positions are harder to fill than others, depending on location and vessel size. Leander noted that she sees many qualified captains for vessels in the 50-meter range, but there is a shortage of captains for those in the 25-meter range for U.S. vessels. “There are many U.S.-flagged vessels under 100 feet and just not enough American captains to crew them,” she said. 

Leathart echoed this. She has noticed a shortage of U.S. captains for American jobs, but many international jobs and captains are available, with hundreds of applicants for some positions. She emphasized that demonstrated longevity at some point in a captain’s career is an advantage when seeking new opportunities.

Looking Ahead

As for what’s on the horizon, the agents are optimistic that salary trends will continue to rise. Rose believes the increased focus on crew welfare and mental health will likely lead to more rotational positions and greater attention to creating a healthy onboard culture.  

“Perhaps there will also be more standardized employment terms across the industry,” Rose said. She noted that qualities like environmental awareness and comfort with new technologies are important when hiring senior crew. 

“It would behoove owners to understand that quality crew will be challenging to find,” Leander said. “There will not be enough of them, and to keep them, they will need to offer incentives, additional time off, strong wages, and a good balance of yacht life and time for them to refresh.”