{"id":2010,"date":"2025-03-18T15:07:42","date_gmt":"2025-03-18T15:07:42","guid":{"rendered":"https:\/\/nationalgunowner.org\/index.php\/2025\/03\/18\/key-findings-from-the-2025-sml-report-on-the-state-of-art-market-jobs\/"},"modified":"2025-03-18T15:07:43","modified_gmt":"2025-03-18T15:07:43","slug":"key-findings-from-the-2025-sml-report-on-the-state-of-art-market-jobs","status":"publish","type":"post","link":"https:\/\/nationalgunowner.org\/index.php\/2025\/03\/18\/key-findings-from-the-2025-sml-report-on-the-state-of-art-market-jobs\/","title":{"rendered":"Key Findings From the 2025 SML Report On the State of Art Market Jobs"},"content":{"rendered":"
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Workforce cuts and shifting market dynamics are reshaping the outlook for art sector professionals in 2025. Courtesy Sotheby’s<\/span><\/figcaption><\/figure>\n

The second edition of the SML Art Market Talent Report by Sophie Macpherson Ltd<\/a> arrives amid mounting pressure on the global art sector, which is navigating an ongoing period of transactional recalibration, financial instability and geopolitical volatility. In just the past few weeks, the Guggenheim in New York announced the layoff of twenty employees\u2014around 7 percent of its staff\u2014citing rising operational costs, unpredictable visitor numbers and a steep decline in international tourism. Tate, too, has disclosed plans to cut approximately 7 percent of its workforce. The Brooklyn Museum, meanwhile, had already confirmed it would terminate forty-seven employees\u2014roughly 10 percent of its staff\u2014by March 10 to confront a $10 million budget shortfall. On the commercial side, conditions aren\u2019t any less turbulent. Despite a $1 billion investment from the Abu Dhabi sovereign fund<\/a> and extensive renovations across its Hong Kong<\/a>, Paris<\/a> and New York headquarters<\/a>, Sotheby\u2019s closed 2024 by laying off more than 100 employees globally, following an initial round of fifty layoffs in May.<\/p>\n

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Still, the 2025 SML Art Market Talent Report opens on a cautiously optimistic note. Eighty percent of auction house respondents anticipate an improvement in the art market this year\u2014up 38 percent from the previous year\u2014with galleries and art advisors echoing the uptick in confidence. The finding is consistent with ArtTactic<\/a>\u2019s Global Art Market Outlook 2025 report, published in January, which found that 23 percent of art market participants expect global market growth.<\/p>\n

SEE ALSO: <\/i><\/b>Trump\u2019s Latest Executive Order Eliminates the Institute of Museum and Library Services<\/i><\/b><\/a><\/p>\n

The optimism is particularly ardent in the U.S., where 44 percent of SML respondents foresee market improvement in 2025\u2014double the 22 percent figure recorded in last year\u2019s survey. Still, that hopeful mood is tempered by more conservative hiring expectations<\/a>, which have dropped from 36 percent to 25 percent. \u201cWhile lasting improvements remain to be seen, we feel that after a period of downturn, employers are eager to drive their businesses forward in any way they can,\u201d Rosie Allan<\/a>, managing partner at SML, told Observer. \u201cAt the same time, people are keen to maintain a hopeful outlook, so even small signs of progress resonate as a step in the right direction.\u201d<\/p>\n

That optimism may not yet reflect the full weight of the recent executive orders that have sent shockwaves through the art and cultural sectors<\/a>, including sweeping cutbacks to diversity, equity and inclusion (DEI) programs\u2014many of which have been canceled entirely or left the roles supporting them vulnerable to elimination.<\/p>\n

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New data shows rising compensation and cultural expectations amid persistent disparities in pay and opportunity. Sophie Macpherson Ltd<\/span><\/figcaption><\/figure>\n

The survey published by SML draws on 1,590 responses from employers and employees across the commercial art world in forty countries, primarily in Europe, the United States and the U.K., where the agency operates. Notably, it still omits data from the fast-growing and increasingly diverse art market in Asia. However, this year\u2019s edition has widened its scope, offering a more comprehensive look at employee satisfaction, along with detailed insights into pay structures and benefit packages across organizations.<\/p>\n

Workers are feeling the effects of stagnation and inflation<\/h3>\n

According to the report, salaries in the United Kingdom have grown the most between 2022 and 2024, even as employer uncertainty about the market remains high. Despite those gains, employee satisfaction with remuneration declined by 19.6 percent, largely due to the rising cost of living and ongoing inflation. In the United States, earnings decreased alongside satisfaction, which dropped by 25.7 percent. European salaries\u2014typically among the lowest in the global market\u2014did see a spike in 2023, followed by stabilization in 2024, with employee satisfaction experiencing the smallest overall decline. Those in senior positions were notably less content, with satisfaction falling by 46.7 percent, while younger employees reported slight increases in satisfaction during the same period.<\/p>\n

The current median salary in the U.K. is \u00a340,000, up from \u00a338,000 the previous year. In the U.S., average earnings held steady at around $70,000, following a decline from $75,000 in 2022. European salaries jumped from \u20ac43,500 to \u20ac50,000 in 2023 and remained flat through 2024. Pay discrepancies are closely tied to business size, with larger companies offering the highest compensation across all levels of seniority.<\/p>\n

At the same time, 54.1 percent of employees in micro-businesses are now supplementing their base income with additional work, particularly in the U.K. and Europe. According to the report, this trend is becoming more widespread across employment categories, with supplemental income figures rising from 30.5 percent to 34.4 percent in the U.K. and from 31.9 percent to 42.6 percent in Europe. The findings reflect an ongoing normalization of art jobs that often pay less than equivalent roles in other industries.<\/p>\n

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Art institutions across the globe are navigating a new era of financial and operational restructuring. Sophie Macpherson Ltd<\/span><\/figcaption><\/figure>\n

\u201cEconomic uncertainty and cost-cutting in the U.S. may have made employers more cautious about salary increases\u2014or even led to pay cuts in some cases,\u201d Allan explained. \u201cEmployers and employees in the U.S. were in a holding pattern for much of 2024, waiting to see what the outcome of the elections was ahead of deciding what actions to take within their business or with their careers.\u201d<\/p>\n

While the report confirms that salaries in the U.S.\u2014particularly in New York\u2014are higher than in the U.K., that edge is largely erased by the cost of living. According to the findings, it is currently 32.8 percent more expensive to live in New York than in London, rendering the pay gap less meaningful.<\/p>\n

According to Allan, even where salaries have increased in the U.K. and Europe, those gains were often eclipsed by inflation and the rising cost of living. \u201cGrowing salary expectations and persistent wage gaps may have fuelled dissatisfaction across all regions, as workers felt their pay was not keeping up with financial pressures.\u201d<\/p>\n

Salary disparities are still common<\/h3>\n

Despite the implementation of inclusion initiatives at many galleries in recent years, white professionals continue to earn the highest salaries and have greater access to better-paid roles and career advancement. Black professionals, meanwhile, earn the least in the U.K. (\u00a326,000) and the U.S. ($67,000), although their earnings are significantly higher in Europe, where they rank third among all groups with a median salary of \u20ac48,300. \u201cWage disparities across ethnicity and disability may persist due to a lack of transparency in pay structures and systemic barriers that limit access to and progression within the sector,\u201d suggested Allan. \u201cThis may indicate that the industry continues to favor those with the financial means to sustain low incomes early in their careers, those with existing connections\u2014regardless of merit\u2014and those who have had access to exclusive opportunities, with little to bridge these gaps.\u201d<\/p>\n

While Europe shows some signs of improvement in addressing racial inequality, gender-based pay disparities remain deeply entrenched. Across the commercial art world, men are still the top earners, and in Europe, they earn over 60 percent more than women. \u201cGender pay disparities also remain a challenge, reinforced by longstanding industry norms, perceptions of career breaks, and a \u2018don\u2019t ask, don\u2019t get\u2019 mentality that ultimately results in men being paid more,\u201d Allan said.<\/p>\n

As is often noted in the cultural sector, higher education does not reliably lead to higher salaries in the art market. This is particularly true in the U.K. and Europe, where holders of PhDs and master\u2019s degrees often earn the same as\u2014or less than\u2014those with only bachelor\u2019s degrees, as the commercial side of the industry tends to prioritize r\u00e9sum\u00e9 experience over academic credentials<\/a>. To maximize earning potential, the report suggests, individuals should focus on building experience and rising to leadership roles by their 40s and 50s, as delayed workforce entry can result in diminished earnings over time. \u201cHigher education does not always lead to higher earnings where experience and practical skills can be as beneficial as formal qualifications,\u201d Allan confirmed. \u201cAn oversupply of advanced degree holders can also contribute to stagnant wages, as increased competition for specialized roles limits salary growth.\u201d<\/p>\n

Remote work is still rare in the art world<\/h3>\n

When it comes to working arrangements, the art market remains firmly rooted in on-site operations, with only modest shifts emerging in the wake of the pandemic. While 6.8 percent of art workers in the U.S. and 4.8 percent in Europe report working remotely, the U.K. lags, with just 2.3 percent of professionals working from home. Although the pandemic did accelerate the art world\u2019s digital transition\u2014boosting comfort with online acquisitions (29 percent of collectors now buy digitally, and 23 percent purchase through Instagram, according to the latest Art Basel & UBS Art Market report<\/a>)\u2014the sector still depends heavily on personal interaction. As a result, 62.6 percent of respondents report working on-site most of the time, a figure that jumps to 82.7 percent among gallery employees. \u201cMost art world jobs remain on-site because the industry relies heavily on physical presence for engagement,\u201d Allan said. \u201cTraditionally, art is usually experienced in person. Therefore, employers tend to prioritize in-person collaboration, networking and sales are often relationship-driven.\u201d<\/p>\n

\"Art\"Art
As the market recalibrates, both employers and employees are adapting to an evolving landscape. Sophie Macpherson Ltd<\/span><\/figcaption><\/figure>\n

As to why remote work remains least accessible in the U.K., resistance likely stems from stricter workplace policies and a deeply ingrained in-office culture. In contrast, Europe\u2019s higher mobility and frequent cross-border business exchanges appear to support slightly more flexible arrangements. Still, these working models don\u2019t necessarily align with employee preferences, which increasingly tilt toward greater autonomy and independence<\/a>. \u201cWhen employers demonstrate trust by allowing more independence, it likely increases overall job satisfaction,\u201d posited Allen.<\/p>\n

Given the client-centric nature of the art world, the emphasis on fixed working hours and mandates to return to the office isn\u2019t surprising. Yet this rigidity may, in fact, stifle the creativity, initiative and innovation that more flexible structures\u2014long embraced in the tech and consulting sectors\u2014have been shown to encourage. It\u2019s likely one reason employee satisfaction has dipped across all regions, as the art world struggles to evolve alongside industries that have already embraced hybrid modes and more sustainable work-life balance models.<\/p>\n

What the future holds for workers in the art industry<\/b><\/p>\n

As 2025 begins, art world employers are bracing for mounting challenges: tighter budgets, falling consumer spending and rising operating costs. These pressures are prompting team downsizing, role consolidation and a growing reliance on cost-saving strategies. Yet despite these constraints, the SML report offers a cautiously optimistic outlook, suggesting confidence is beginning to stabilize and early signs of recovery are emerging.<\/p>\n

The sector, as the report notes, stands at a crossroads. But that also presents an opportunity for those prepared to adapt. For employers, this means embracing more holistic hiring practices, investing in talent with broader and more flexible skill sets, reinforcing internal structures and recommitting to diversity, equity and inclusion. For employees, the call is to reassess career priorities and work-life balance, stay agile in the face of industry shifts and invest in ongoing skill development and professional growth to remain competitive in a rapidly evolving field.<\/p>\n

\t\t\t\t\"Higher<\/p><\/div>\n