CHICAGO--(BUSINESS WIRE)--Provi, the largest online marketplace for the bev-alc industry, and SevenFifty Daily, an award-winning online magazine about the business and culture of the beverage alcohol space, today announced the 2023 Beverage Industry Career & Salary Survey Report. This comprehensive report, drawing insights from 1,800 professionals across the industry, offers a nuanced analysis of key facets shaping the sector.
The report shares salary trends, career satisfaction, pandemic-induced job transitions, workplace policies, industry challenges, learning resources, and a comparative assessment with the industry's state four years ago.
Among the key findings in the report is that compensation within the beverage industry declined since 2019, with 30% of respondents citing a lack of raises in the past two years—a period aligning with the recent inflation surge.
While the overall lack of strong compensation advancement in the past four years has dampened overall compensation satisfaction slightly, the report found that the majority of respondents are happy with their current pay. SevenFifty Daily attributes this as a possible residual effect of the tumultuous employment landscape during the early days of the pandemic, or the feeling that in a difficult economic period, workers are grateful for a steady income.
However, while professionals express satisfaction with their pay, the report also found that optimism about career growth has diminished. Only 42% rated their outlook for professional growth as "very good to excellent." Notably, the positive outlook for off-premise respondents experienced a slight increase from 34% to 37%, defying the overall trend.
“There was a lot of growth and excitement before, and a lot of opportunity. People felt like they were really building careers, but then they went into survival mode,” said Neal Bodenheimer, Owner of Cure and Cane & Table in New Orleans and Tales of the Cocktail Foundation Board Member, when interviewed by SevenFifty Daily. “We’re all working on trying to do the things that get our teams and ourselves engaged and turned back on.”
The 2023 Career & Salary Survey Report also revealed that beverage professionals are increasingly emphasizing a need for better work-life balance. Notably, paid time off, including sick leave and vacation time, emerged as the most crucial workplace policy, with 75% of respondents expressing its importance.
Healthcare benefits also remain a priority, as cited by 69% of respondents, particularly gaining prominence in the bar industry. Intriguingly, executives in owner/CEO/senior management roles showed lower importance attribution to both PTO (64%) and healthcare benefits (62%), raising questions about the industry's capacity to align with workforce expectations and retain valuable talent.
"Our industry is rapidly changing, and it's up to us to stay on the pulse of that change going forward," said Courtney Schiessl Magrini, SevenFifty Daily’s Editor-in-Chief. "One of the most prominent takeaways from the report is that today’s beverage professional wants to work for an industry, a trade tier, and an employer that values them. We hope these insights and learnings will help create a playbook for organizations throughout the industry to enact positive change to retain and nurture their workforce.”
The 2023 Career & Salary Survey Report can be accessed for free at https://www.provi.com/resources/beverage-industry-career-salary-report.
About SevenFifty Daily (www.sevenfiftydaily.com)
SevenFifty Daily is an award-winning online magazine about the business and culture of the beverage alcohol industry. We analyze the issues people are talking about, uncover new insights and innovations, and explore the people, places, and traditions beyond the bottle. Covering the three tiers of the alcohol industry, we connect a global community of drinks professionals, creating a space that fosters conversation and a platform for showcasing the people and ideas moving the industry forward.
About Provi (www.provi.com)
Provi is the largest online marketplace that simplifies the complex process of ordering wholesale alcohol by connecting buyers, distributors and suppliers. Active in all markets throughout the U.S., Provi's robust, online marketplace improves communication and efficiency for on- and off-premise buyers, distributors and suppliers. Founded in 2016 and headquartered in Chicago, Provi received Built In Chicago's Best Places to Work recognition in 2022. In 2022, Provi joined forces with SevenFifty, which included the Beverage Media properties with industry legacy dating back to the repeal of prohibition, along with SevenFifty Daily, an award-winning industry publication discussing the beverage alcohol business and culture.
