Aug, 30, 2022
The average salary increase budgets – the pool of money dedicated to salary increases for the coming year – were higher in 2022 than in 2021, with the budgeted amount increased by 42% over the prior year’s budget and went up by 13% over last year’s actual spend.
There also was an inverse correlation between organizational size and the salary increase budgets. The largest budgets were reported by the smallest organizations, possibly indicating more ability to pivot in response to inflation and demand for talent.
That’s just one key takeaway from the just-released 2022 NBAA Compensation Survey in which 382 NBAA member participants provided data for 3,092 flight department employees.
Now in its 35th year, the NBAA Compensation Survey is an indispensable tool that gives hiring managers and aviation directors the information crucial to retaining their most valuable workers and attracting the best of the industry’s new talent. Using unique data, independently collected and audited by global accounting firm BDO, the survey delivers a singular opportunity for operators to understand the compensation packages, salary ranges, merit increases, incentives and duty rosters for pivotal positions across the business aviation sector.
The survey also gives hiring managers the ability to filter and examine its data by key metrics, including the size of a flight department, its regional location and the size of aircraft in its fleet.
“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 NBAA Senior Vice President, Education, Training and Workforce Development, Jo Damato, CAM.
“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,” she added. “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.”
Attracting new talent is also a growing concern for hiring managers, so this year the Compensation Survey was enhanced with a new focus on diversity, equity and inclusion policies to provide insights on best practices.
The 2022 NBAA Compensation Survey provides a wealth of independently verified data that cannot be obtained from other sources, said Dr. Christopher Broyhill, an aviation compensation expert and NBAA Business Aviation Management Committee volunteer. “This survey provides 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 an industry that is being impacted by a vast number of new owners and users.”
The 2022 NBAA Compensation Survey, which was released Aug. 23, is only available to NBAA members. Members that participated in the survey receive the results free of charge; non-participating members can purchase access to the interactive web resource for $1,000.