Who would like to work at the art market? According to the latest talent report released this week, the sector has witnessed widespread redundancy, reduced job satisfaction, stagnant revenue growth, lower job satisfaction and stagnant revenue growth.
Compiled by recruitment firm Sophie McPherson (SML) and research group Arttactic, this study of 1,590 employers and employees found that the median UK salary is £38,000 and the median UK median UK salary is £37,430.
Black experts reported the lowest median salary, 63% of the amounts made by white counterparts. This trend was 12.5% lower in the UK.
Between 2022 and 2024, average arts sector salaries increased 14% in the UK and nearly 7% in the US. SML Managing Partner Rosie Allan said the cost of the living crisis that comes with it “may exceed profits” and compensation satisfaction fell 25.7% in the US and 19.6% in the UK between 2023 and 2024. The report suggests that “additional financial commitments such as mortgages and retirement plans” contributed to the frustration.
The report does not delve into gender pay gaps, but suggests that the underlying cause is the old story that “men primarily occupy senior or executive roles in the world of commercial arts,” despite findings showing that men are generally at work in large numbers. The issue was one of those analyzed in another survey of over 2,000 women produced this week by the Women’s Association of Art and Artnet. This revealed that 54% of women believed their salary was lower than men employed “in a similar position,” but under 1% of respondents considered gaining more.
Other factors exacerbate the trend. In a panel marking the launch in attendance for the AWITA report, Sadiecoles, a gallerist in London, noted that over two-thirds of her 40 staff are women, including women, while only five are parents. In her business, “Gender pay equality is not a problem more than parenting women, because the costs are very large.
Other family friendly issues include “travel requirements, on weekends – we are all open on Saturdays – (evening) to the opening and going to the social environment. The SML report points out that the majority of Artworld employees, often in public environments, have relatively limited opportunities for remote work and have fixed hours.
Another finding is the role of education, especially in the UK. In the UK in particular, an SML survey found that secondary school levels (ages 18) had median salary of £38,500 for £38,500 for employees with a master’s degree. “The connection between real-world experience and industry may be more important,” the report finds. Jonathan Woolhoosson, director of Sotheby’s Art Institute in London, says that the directors of Master Programs, including art and luxury businesses, are dynamics they have known for a long time. Thus, the Institute’s academic programs “combines direct industry experience and connections to ensure that students will provide the greatest possible enhancement to their employability.”
The role-by-role pay breakdown in the SML sector shows that the highest UK employees are directors of art advisory firms (payment guide £100,000), while in the US the director of private collections was $162,500. The lowest pay was found to be those of the UK Art Fair Manager (£26,000) and in the US Delivery and Logistics Manager ($48,750).
The report hesitates to predict a recovery in the arts market, but there are signs that things have been getting worse since the optimistic start of this year. The wave of redundancy among market players, especially at Sotheby’s auction house, has been extended to museums and other institutions, including at least 60 roles (18% of staff) at London’s Royal Academy and 40 redundancy (7%) at Tate. The UK government’s recent employment rights bill “has had unintended consequences by blocking employment rather than promoting job security,” the report finds.
In the US, the Trump administration’s crackdown on diversity, equity and inclusion initiatives has negatively affected the workforce and artistic programming. The SML report urges employers not to retreat, saying “Pure merit-based systems are often not really objective.”
Despite the challenges, the report identifies employee opportunities, including cities other than traditional hubs in London and New York, such as Paris, Milan, Dubai and Riyadh, where the cultural scene is expanding.
Employees in the sector also report the highest satisfaction with the role’s “autonomy and independence,” leading to “a great sense of ownership for their work,” Alan says. For employers who “take a strategic approach,” she added, adding that there is “strong talent.” “Confusion isn’t that bad,” the report finds because “it can create opportunities to recruit experienced professionals that may not have been available previously.” It is still unclear whether they are ready to stand out from the art market.
sophiemacpherson.com; awita.london
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