The latest SML Art Market Talent Report highlights significant challenges in the art industry, revealing a notable decline in salary satisfaction, down 19.6% since 2022. In the US, average salaries fell from $75,000 to $70,000, whereas European salaries saw growth, with an increase in the UK from £35,000 to £40,000. Large firms in Europe offer higher salaries than medium-sized ones. Despite tough times, job autonomy is viewed positively, and negative hiring perceptions in the US improved towards the end of last year.
"We have been through a bit of a tough time in the art world, and I think the survey responses correlate with that."
"Employee salary satisfaction has declined by 19.6% since the first SML survey in 2022."
"Salaries increase with the size of the business, being 20% higher in Europe at large firms compared to medium-sized companies."
"The outlook for the art market picked up by the end of last year, with negative hiring perceptions in the US falling from 36% to 25%."
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