Q4 2021 Wages

6.29 down 6.78

The question of wages saw a fall this Quarter, and there was much mention of the perception that shipping’s financial gains were not being adequately shared amongst seafarers.

Responses included, “Salary is generally good – until you compare it relative to profits. My workload and stress have increased over the last four years, company profits increased yet my wages remain the same.” While another stated, “Wages/ salary have not been increased at all. We are running the ships day and night 24×7 without any break. We deserve a salary increase”.

One respondent said, “For me what I earn is not enough for totally stressful work, but yes if I don’t like I should leave”. Which was a sentiment echoed by many, with respondents stating that they did not feel the rewards for seafaring were sufficient and they were questioning their reasons for remaining in the profession.

There is also a growing sense that seafaring is being eroded in comparison to other positions ashore. “When I initially went to sea, senior officers were paid similarly to doctors, dentists and lawyers. However, over the last thirty years, seafarers have endured below-inflation pay increases and in many years, pay freezes along with employing other nationalities who will work for less, driving down wages.  After a full career at sea, I am looking at a very frugal retirement, and will likely have to work way beyond the age I originally planned to retire”. This captures what is a cold, hard financial reality for many seafarers, and again suggests there are likely challenges ahead.

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