Marketing Salaries 2010
A year of modest salary growth
PM Forum members were asked to complete our fourth annual online survey of marketing salaries in December 2010. 579 participated - a 13% increase on 2009. Key findings include:
- Average salaries for the industry benchmark – marketing managers at UK non-global law firms – increased by 3.6% in 2010. A free ready reckoner showing average salaries by grade, headcount, sector and location is available on the PM Forum website.
- North American firms consistently pay more than UK (non-global) firms. For example, those at manager level receive 48% more (£65k v £44k) in North American firms.
- 92% (2009 92%) of marketers receive benefits with only 58% of marketers getting a bonus compared with 61% in 2009. Benefits and bonus are worth less than 15% of base salary for all but a handful. This is unchanged from prior years. 35% (2009 30%) consider their firm’s bonus system to be ineffective at encouraging the type of behaviour sought by management. This increases to 39% for managers.
- 37% (2009 36%) have a formal annual appraisal lasting less than 45 minutes. Perhaps, unsurprisingly 25% (2009 23%) are dissatisfied with the appraisal process at their firm.
- What do marketers think about their remuneration? 47% (2009 46%) believe themselves to be paid less than their peers with only 6% (2009 6%) feeling that they are paid more. Statistically, this is an impossibility...
- Professional bodies are seen as the most reliable source of salary data, followed by peers, recruitment consultants, magazine surveys and online job banks. Line managers and HR teams are seen as no more reliable than the office grapevine.
Download the full results summary.