Salary Study Announced For Timeshare & Fractional Industry
July 18, 2009 by Timeshare News
The ONLY salary study for the timeshare/vacation ownership/fractional/hospitality industry
Keith W. Trowbridge, Ph.D. president of Executive Quest, Inc. www.execq.com has announced the results of the annual salary survey of the timeshare/vacation ownership/fractional industry.
“The salary figures for the 2009 study come from participants that originated from the 20,000+ contacts maintained by Executive Quest through its newsletter subscriptions.” A full copy of the salary study may be purchased at www.execq.com
Dr. Trowbridge wishes to thank all participants. As with last year, the survey included 31categories from Sales & Marketing, Finance, Human Resources, Resort Managers, CEO’s, CFO’s, etc.
Unlike last year, this industry has been affected by the recession. Decreases in tour flow and marketing occurred and the industry is suffering a very trying year. Estimates by Howard Nusbaum, President of American Resort Development Association (ARDA), project an 8% decrease in sales for 2009.
With many companies cutting back on marketing and tour flow, as may be expected, marketing and sales positions had the most decrease this past year. Regional marketing management together with vice presidents of marketing had a reduction in compensation of about 10% while sales and marketing directors as a group had reductions of 20%.
Due to the lower tour flow, the compensation for sales managers, vice presidents and regional vice presidents which are often tied to a percent of sales revenue had a negative 25% overall.
Administrative positions such as CFO, COO, HR or Operations management held steady on income. However, CEO, presidents, owners had a decrease of about 33% from the previous year as the economy and therefore the timeshare/fractional/vacation ownership/hospitality industry struggled.
We hope this salary study is helpful to you in your operation. We encourage you to use the figures for purposes of budgeting, hiring, promoting and training objectives. Of course, Executive Quest would be pleased to help you in your search for outstanding talent. Contact keith@execq.com or jim@execq.com
As these salary studies are important to everyone in the industry, and Executive Quest is the only firm to do an industry salary survey, I highly encourage you to participate in the next salary study.
A full copy of the salary study may be purchased at www.execq.com
For information on advertising and editorial opportunities with Perspective Magazine & Owners Perspective Magazine; the leading independent B2B & B2C magazines for the timeshare and fractional ownership industries visit www.perspectiverates.com
Tags: Executive Quest, fractional ownership, fractional property, Keith Trowbridge, Salary Study, timeshare
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