We’ve answered as many questions as we can the last month, we’ve pointed crew to unions for support, given career/CV/interview advice and recommended financial advisors who best answer mortgage and tax situations that could be ahead.
Will 2022 be quieter for jobs? Yes – there are less yachts operating.
Yachting is reported 10% Russian owned yachts (Superyacht Times), we agree fully. However; if you look at the top 100 superyachts by length with the highest number of crew onboard, approximately 30 are Russian owned. This has led to 400+ crew globally having been let go so far due to sanctions and this number is rising each week. Large operations of 50+ crew are being let go at once.
We have been asked if salaries have dropped due to the market having experienced people available, however the answer is no, not yet, and we hope it remains this way.
Several new builds and operational yachts preparing for the Med season have capitalised on the newly available crew. We have had a shortage of Deckhands and Stewardesses with experience the past few years and this skills gap is closing. Sadly, this could mean less opportunities for those looking to make 2022 their first season.
The Superyacht Ball last weekend highlighted that the conflict was a common topic with many businesses’ facing a worrying period having had contracts cancelled and invoices unpaid. Looking ahead, the bounce back we had from Covid is not on the cards. Covid stopped yachting for a few months in 2020 and restricted the following 18 months but the industry was at the stage of recovery.
Yachting has further been thrown into the spotlight. Talking with Captains who have been affected by sanctions, many have spoken very highly about their guests and are sorry to leave crews and yachts that mean a great deal to them.
If you have lost your job or could be facing this, do contact our team, we are giving as much help and advice as possible.