The question of onshore earnings for merchant navy officers is a general and important question. It should be placed under consideration by all seafarers and intending seafarers. Recently I have been getting a lot of emails from my subscriber on How Will a Merchant navy officer Earn When Not At Sea? Today I decide to make a post on it.

Seafaring is a really good profession, but it has its downsides. I am guessing you are wondering what these downsides are, well do not think too deep. Keep reading. We will provide you with all the answers you need to know. There is a saying that says, “Whatever has an up has a down.” The phrase is literarily correct and applies to the statement about seafaring having its downsides. Yes! The pay is good, but it is not continuous. A merchant navy officer’s job is mostly based on contract, mostly 6 months on, and the remaining 6 months off. The sad part is, once the contract ends, the salary and other benefits end.

Few companies ask for a long-term contract, meaning the chances of getting one are a bit slim. As an aspirant, this is nothing to be scared or worried about, it’s just the nature of the job, so please do not feel discouraged. Who knows, you might just be among the lucky few.  

A merchant navy officer holds the key to his/her fate after the contract. These three factors are mostly always present;

         I. How soon the merchant navy officer can secure another contract: securing a new contract is not in any way predictable. It could take a while before a merchant navy officer gets lucky again. It is better to be prepared and save for the future to avoid being taken unawares.

       II. What savings the merchant navy officer has: The more money saved, the better and more comfortable thing will be for a marine officer. Spend less, save more!

     III. The investments owned by the merchant navy officer: Do you have an investment?

Do you have a backup plan in case things go wrong? Ponder hard on these questions and do the right thing immediately if your answers are “no.” It is never too late to act right.

These three factors will determine the fate of a merchant officer after completing a contract. It is totally up to the officer to determine what the future would look like. Some marine officers are lucky enough to get all three factors right, while some get two or one out of the three and some nothing at all. Having none out of the three factors is not good at all. If nothing is done fast, the seafarer will end up being in a lot of debt.

Moving back to the reason for this article, here is a list of what merchant navy officers can do to earn money onshore;

• Savings 

This has always been the difficult part. After getting used to the good life while onboard a ship, some merchant navy officers find it hard to live in a different way when onshore. This, of course, leads them into spending irrationally, and they end having little or no savings.

Savings goes a long way, and it comes with a lot of options. With savings, you can decide to venture into a lucrative business or even invest the money in stock or any other profitable investment.

• Investments

This is a really good way of earning money without overstressing yourself. Investments can come in different ways. It could be by buying stocks, investing in start-up companies that are most likely to succeed, investing in real estate, and many more options. Just make sure you carry out lots of research before investing your money. 

Merchant navy salary ends immediately after a contract ends, but a good investment can last a lifetime, but a good investment, can last a lifetime. So, choose wisely.

• Part-time job

In cases where savings and investments are not in the option, having a part-time job is a really good idea. While waiting for your next contract, which is not guaranteed to come by sooner or later, get a part-time job to sustain you and your family in the meantime. Make sure to tell your employer the situation surrounding the job to avoid problems in the future when you need to leave the job.

• Skill acquisition

You do not need to work for anyone with a useful skill, and you wait for your next contract or even after retirement. Good freelancing skills like graphic design, writing, web design, arts, and so on can go a long way in supporting merchant navy officers. It is something you can always go back to whenever you are off duty.

As we have always mentioned in most of our articles, seafaring is not an easy job, but the salaries paid are befitting. Do not get carried away by the amount paid or by the first-class treatment you receive when on the sea. Get enlightened, learn from the experienced officers, do research, and spend less.You may not be paying taxes at the moment since you are mostly traveling, but the truth is after your contract or after retirement, you start paying tax.

It is never too late to retrace your steps. See this as a second chance. Spend less, acquire a skill while you can, or apply for a part-time job. Save yourself the trouble of going broke and needing assistance. Get things done the right way.

Merchant navy officers in long-term contracts should also endeavor to take this article seriously. The future is unpredictable. Anything can go wrong. Save while you can, invest and try to acquire a cool freelance skill to avoid future misfortunes.

Are you looking to go into the merchant navy?

Merchant navy aspirants are not excluded from this article. It is best you become aware of what to do now before you get recruited. A stitch in time, they say, saves nine.

I hope this article was helpful to everyone?

See you in our next article, dear esteemed reader.