Marketing pay rises 5.6% in the past year
The recruiter’s 2014 Salary and Market Trend report found marketing salaries increased almost £3,000 from £50,781 in 2012/13 to £53,613 in 2013/14. Bonuses, however, have stayed fairly steady at £7,155 this year compared with £7,238 last year.
Marketing spend is currently at its highest level for 13 years and has seen four consecutive quarters of growth. Q3 2013 saw a 12.3% increase in spend compared with the same period last year.**
Marketers themselves are even more upbeat with a 30% increase in those feeling optimistic about the economy over the coming year – from 21% in 2012/13 to more than half currently (51%).
Simon Bassett, Managing Director of EMR said, “An increase in overall pay and salary in particular is a major sign of confidence within the marketing industry as it represents a longer term commitment than simply raising bonuses. The sector is performing well and spending more and the huge increase in optimism is a by-product of this.”
In more good news for the marketing industry, 43% of marketers reported that the number of staff in their department had risen over the past year and 36% expect further headcount growth in the next twelve months. Forty four percent of marketers expect to change jobs in the next year.
Job security has risen 6% over the past year from 55%, to 61% currently. Similarly, job satisfaction has risen from 41% to 48%.
Simon Bassett continued, “Marketing has a major role to play in the economic recovery as companies seek to expand. Talented staff are central to this hence increased hiring and increased movement in the job market. Many marketing professionals will have stayed put during the worst of the downturn as confidence was low, but now the sector is booming again, marketers will be on the look-out for an attractive move and bigger pay rises.”