Have you heard about the job growth and what changes are ahead? The outlook is good for the hospitality industry. Below we have compiled some of our research to keep you on top of the industry trends and recently published facts.
According to the National Job Outlook and Research by Money Magazine and Salary.com, the expected growth in Meeting/Event Planner jobs is projected at 22% over a 10-year period (from 2006-2016). Based on the U.S. Bureau of Labor Statistics findings, meeting and convention planners represented about 51,000 jobs in 2006. By 2016, this number of employed in the field is expected to reach 61,000. This is very encouraging news!
In regards to where we might see this growth most apparent, let’s look at where statistically the jobs are located. States with the highest concentration of meeting, convention and event planning jobs in the U.S. is in Washington, D.C. Next in line: #2 New Jersey, #3 Massachusetts, #4 New York and #5 Hawaii. States with the highest employment level of Meeting, Convention and Event Planners are: #1 California, #2 New York, #3 Texas, #4 Illinois, and #5 Florida.
Salaries have fluctuated in the unstable economy, ushering in hiring freezes, pay freezes and creative new bonus structures within companies. Clearly there are regional differences in pay, based on the cost of living. If you are a Meeting/Event Planner, here is a list of national salary averages from Salary.com:
Annual Base Salary:
Meeting/Events Assistant $44,263
Meeting/Event Planner $55,232
Meeting/Event Manager $74,995
Meeting/Event Director $97,453
What kind of turn over is expected in the future? Research indicates that 30% to 60% of employees say they are thinking of proactively changing jobs in the near future, and more people are considering relocating to find work. Many people are hoping to ‘ride out’ the economic storm and at best, keep their jobs; but are likely to actively look for work as things begin to stabilize.
Where will these job seekers find work? It wouldn’t surprise you to know that more people are open to relocating. Over the first half of 2011, an average of 9.4 percent of job seekers finding employment relocated for their new positions, Challenger Research said. That is up from an average relocation rate of 7.6 percent during the same period a year ago. These changes have required an open mind from prospective candidates, who seem to be rising to the challenge.