Marketing Salaries 2013
PMF Salary survey 2013 – Flat lining
PM Forum members were asked to complete our sixth annual online survey of marketing salaries in January 2013. 484 participated. Key findings include:
- Average salaries for the industry benchmark – marketing managers at UK non-global law firms – remained unchanged after an increase of 3.6% in December 2011, the last time the survey was carried out. A free ready reckoner showing average salaries by grade, headcount, sector and location is available to download.
- North American firms consistently pay more than UK (non-global) firms. For example, those at manager level receive 40% more – £63k v £45k – in North American firms (34% in 2011). The change since 2011 is attributable to currency movements.
- 93% of marketers receive benefits, the same amount as in 2011. However only 58% of marketers are now getting a bonus compared with 65% in 2011. Benefits and bonuses are worth less than 15% of base salary for all but a handful. This is unchanged from prior years. 35% consider their firm’s bonus system to be ineffective at encouraging the type of behavior sought by management – no change from 2011.
- On a positive but still depressing note 30% have a formal annual appraisal lasting less than 45 minutes compared with 37% in 2011. Perhaps, unsurprisingly 25% (22% in 2011) are dissatisfied with the appraisal process at their firm.
- What do marketers think about their remuneration? Again no change from 2011 with 43% believing themselves to be paid less than their peers with only 8% (6% in 2011) feeling that they are paid more. Statistically, this is an impossibility…
- As in previous years 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.