SuperYacht, luxury sailing and crew financial insights



One way to enjoy a luxury holiday across the ocean with no destination boundary is in a superyacht. Today's luxury motor yacht or crewed sailing yachts are floating palaces offering high-speed internet connection, spa/fitness center, comfortable lounge for your entertainment, chefs that cook to your specification and all the gear required for water skiing, scuba diving, surfing and more.

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• International Multi-Currency Bank Accounts
• Foreign Currency Exchange
• Savings & Investments
• Pre-Paid Cash Cards
• International Mortgages
• Residential & Tax Reviews
• Private Banking
• Yacht Corporate Account
• Yacht Finance
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What is a superyacht?

A superyacht is a professionally crewed commercially operated luxury yacht. It can be sailed powered or motor with a load-line length of 24m and above.

Some of these yachts are used exclusively by owners while others are operated in charter businesses full-time or part-time.


Examples of staff, what they do and salaries for superyacht crew?

A superyacht is manned by professionals who are highly trained to provide the best services to guests. Here is a list of superyacht crew and estimated salary.

Captain

Salary for a captain depends on the size of yacht, 60-100ft yacht salary range is between $4,000-$8,000 per month, 100-160ft yacht salary range is $7,000-$12,000 per month, and 160-250ft+ salary range $8,000- 15,000 per month.

Job responsibilities include; 

1. Safety of passengers, crew and vessel 

2. Achieving yacht owners objectives

3. Personnel management, hiring and dismissal

4. Project and shipyard management

5. Navigation and regulatory compliance

6. Financial management and accounting

If you need more information or need to talk to one of our specialist, please feel free to contact us.

First mate/chief Mate

Salary range is $7,500-$10,000 for 170-250ft yacht.
Job responsibilities include;

1. To assist the captain with safety and administrative duties

2. Managing and maintaining crew discipline 

3. Conduct regular safety drills

4. To set watch schedules

5. Maintain deck stock and equipment

6. Stowage the yacht for sea

7. Assist in navigation

8. Adhere to set deck budget


Second Mate

Salary range is $3,000-$6,500 per month for a 100-170ft yacht.
Job responsibilities include;

1. Assisting the First officer with safety and administrative duties

2. Responsible for navigation watches

3. Stock taking and maintaining of deck equipment

4. Stowage the yacht for sea.

Bosun

Salary range is $3,000-$4,500 per month for 100-250ft yacht.
Job responsibilities include;

1. Maintenance and cleanliness of yacht

2. Assist in maintenance and repair

3. To liaison guests for water sports

Superyacht

Deck hand

Salary range is $2,000-$3200 per month for 60-100ft yacht, $2,500-$3,500 per month for 100-160ft yacht and $2,500-$3,800 per month for 140-250ft yacht.
Job responsibilities include;

1. Cleaning, polishing and waxing the yacht

2. Assisting Mate and Bosun in maintenance of the yacht

Chief engineer

Salary range $5,000-$9,000 per month for 120-180ft yacht and $7,500-$14,000 per month for 180-250ft yacht.
Job responsibilities include;

1. Ensure ultimate safety for engine room operations

2. Maintain entire engineering operations of the yacht 

3. Manage and supervise engine re-hauls and repairs

4. Manage engineers and deck crew

5. Planning maintenance for all major systems

6. Engineering stock taking


Chef

Salary range is $5,000-$7,000 per month for 100-160ft yacht and $5,000-$10,000 per month for 150-250ft yacht.
Job responsibilities include;

1. Providing all food items 

2. Provision of guest and crew meals/nutrition

3. Menu planning 

4. Ensuring food storage standards and food safety 

5. To adhere to set budget

6. Food inventory and galley

7. Managing galley staff 

Sous chef

Salary range $3,500-6,000 per month for 150-250ft yacht.
Job responsibilities include;

1. Assist head chef

2. Providing all food items 

3. Provision of guest and crew meals/nutrition

4. Menu planning 

5. Ensuring food storage standards and food safety 

6. To adhere to set budget

7. Food inventory and galley

8. Managing galley staff 

Crew chef

Salary range $3,000-$4,500 per month for 60-110ft yacht.
Job responsibilities include;

1. Assist in provision of all food items

2. Provision of crew meals

3. Assist deck and stew responsibilities

Is having financial services for superyacht crew important?

Financial services for a superyacht crew is of vital importance. Working on a superyacht has many financial benefits. Whether you are a captain, engineer, chef or starting as a deck hand in the luxury yacht industry, you earn attractive salaries, with little to no living expenses for the majority of your time aboard. However, how you manage this income is very crucial for your future financial growth.

Superyacht financial consultants

Should superyacht staff have international multi-currency bank accounts?

Like other expats, superyacht crew members are professionals who travel and work in different countries. They need international multi-currency bank accounts to receive salary and make payments in a range of currencies. 


What benefits should your multi-currency offshore bank account have?

Depending on the international bank you use, you can get different services and products from the multi-currency offshore account you open. Some banks have unique currency accounts tailor made for yacht crew. Here are some of the benefits you get from the multi-currency offshore bank account:
• You get account with currency most convenient for you

• 24/7 online banking

• 24/7 dedicated customer care

• International visa card

• Unlimited withdrawal and deposits


Is foreign exchange services essential for superyacht crew?

If you are a Superyacht crew member and you receive your salary in foreign currency, then foreign exchange services will become essential. You want to get competitive exchange rates and get the most for your money when converting your salary to your home currency. 


What you need to know before chartering a superyacht! 

If you are considering chartering a superyacht, there are some things you need to know before weighing anchor. 

Motor or Sail?

While both Motor and Sail superyacht have similar facilities and luxuries, motor yacht is ideal for those looking for a big floating villa while a sail yacht are for those looking for sailing experience. Decide on the best yacht that meets your needs. 

Your destination 

Do you want to sail in the Mediterranean or Scandinavia? The question of where you want to cruise should be answered in an early stage. Luxury yachts tend to move seasonally and can stay in one region for entire season. 

What kind of destination experience are you looking for? 

Decide whether you want to be in a remote bay by yourself or you want to be where the action is. More than 60% are looking for destination experience where everyone else is. 

Yacht vacation

What are the names and features of some of the biggest superyachts around the world? 

The superyatcht industry is growing and competition becoming stiffer by the day. New and bigger luxury yachts are being built each year with owners looking to outdo each other and earn the "boasting rights," Here are some of the biggest names:

Azzam

This is currently the largest superyacht in the world today. It is 180m long with speeds of up to 31.5knots. Not much is known about its features, but it’s rumored to be owned by a royal family in UAE. However, if the plans by a billionaire to build a 222m yacht called Triple Deuce by 2018 succeed, Azzam will be overtaken as the world’s largest yacht. Triple Deuce is set to cost over $1biliion to become the most expensive private yacht. But until then, Azzam remains the largest superyacht. 

Eclipse

At 162.5m this is the second largest superyacht and 2010 Motor Yacht of the Year. It has a stunning interior and exterior design, 56m wide owner’s deck, personal stall and facilities enough for 92 crew members. The interior is custom designed and the deck area has a 16m swimming pool which can be elevated to make room for a dance floor. Also, included are two helipads and a storage hangar that can accommodate a third helicopter.  

Dubai

At 162m long, this is a royal yacht for the vice-president of Dubai. It features one owner’s suite, five VIP suites, and six guest suites. It also has special features like a 21.3 wide atrium, swimming pool, gym, helipad, garage and many water toys.

Have a chat with our Yacht specialist!

If you need any of these services talk to us and let us help you.

• International Multi-Currency Bank Accounts
• Foreign Currency Exchange
• Savings & Investments
• Pre-Paid Cash Cards
• International Mortgages
• Residential & Tax Reviews
• Private Banking
• Yacht Corporate Account
• Yacht Finance
Contact Us


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