There are lots of advantages to working on board a superyacht. You live on board, so you don’t need to travel to work. All your living expenses are paid for by the boat. Your meals are prepared for you. You also get to travel the world, seeing the world’s most gorgeous locations and meeting people from different cultures. Best of all, you get paid for doing so—and in many cases your salary is tax-free.
But how much do yacht crew actually earn? That depends on a quite a few things, some of which you can control, others you can’t—or at least not in the short term.
Qualifications and experience are obviously important. Your chances of attracting more pay will be higher the more years you have under your belt.
You may also have a relevant skill from your life outside of yachting that could make you attractive to a yacht, and therefore make it more appealing to pay you more. For instance, if you’re a divemaster, personal trainer or already have training in hospitality, you are likely to be able to command a higher salary.
Here is an overview of what you can expect to earn in various positions on board a superyacht:
Yacht Crew Salary Guide
The salaries listed here are indications based on our experience of the superyacht industry. They may not reflect your actual salary.
These salary guidelines are an indication of what you can expect to be paid by the boat. However, the more important issue is how much you will be paid by yourself. And by that, we mean how much will you ring fence at the beginning of each month, so you don’t end up spending every penny of your salary? In other words, how much will you save every month, so that at the end of your career in yachting you’ll have something to show for your hard work?
The easy thing to do is to spend the lot. But that would be an incredible shame. Working in yachting presents you with a once-in-a-lifetime opportunity to build the financial freedom needed to live your ideal dream life after yachting. We’ve written about this unique opportunity here: The Unique Financial Opportunity of Superyacht Crew. Short version: you are paid well (very well at mid and senior levels) and your obligatory monthly outgoings are minimal. That puts you in a terrific position to invest and save enough money to leave yachting financially independent.
That sounds great, doesn’t it? Even more so when we tell you that financial freedom is a simple thing to achieve. However, ‘simple’ isn’t the same as ‘easy’. In fact, many simple things in life are actually very hard indeed. Running a marathon is simple. All you have to do is run 42.2km. But running 42.2km isn’t easy. It takes dedication and preparation beforehand, along with some pain and a lot of discipline. The same can be said of becoming financially independent. But, much like the kudos and euphoria that comes from completing a marathon, the rewards for achieving financial independence are high. It’s hard to imagine anything being more rewarding than achieving the freedom to do whatever you want for the rest of your life.
The thing is, you’ve already shown the qualities needed. You’ve already proved you have what it takes. After all, you’re the kind of person who has the courage and tenacity to leave their home country and build a new life halfway across the world. Not only that, you work on board a superyacht. And we all know it isn’t an easy environment to work in. It’s mentally and physically tough—particularly during the busy seasons.
Don’t run the money marathon alone
However, just like you don’t have to train for a marathon all by yourself, you don’t have to achieve financial freedom on your own. You can get yourself a coach, who will work on a plan to help you achieve our goal. Someone who will also breakdown the work you’ll need to do to get you to your finish line. Someone who believes in you and who will coax and encourage when the going gets tough (which it will).
If you’re ready to start the work to achieve financial freedom for yourself, Yachting Financial Solutions can offer you over 25 years of experience of helping superyacht crew like you build the foundations for their ideal dream lives after yachting. We’re more than financial planners, we’re financial life coaches. Our life goal is to help you achieve your life goal.
Remember, this is only the beginning for you. You’re at the start of your yachting career—really only at the start of your life—and the possibilities for you in the industry are tremendous. If you decide to make yachting your career, with further qualifications and an eager attitude, you will progress and continue to command a higher and higher salary.
That said, never lose sight of the fact that your time in yachting will be limited, either by personal or other reasons. Very few people have a yachting career that spans decades. So it’s vital that, while you’re working in the industry, you not only enjoy the present, but you also take action to build solid foundations for your life after yachting—because it will come one day.
A career in yachting has the potential to literally change your life in the most positive way imaginable—but you must grasp the opportunity! Will you do that today? We’re here for you if you are.