You’re a marketer in Cleveland and it’s time to move on. But where?
If total compensation is top-of-mind, you might fare just as well in Rochester, NY as going further across I-90 to Boston. And if you are doing PR/media relations, well, your bank account may grow faster if you switch to a different marketing discipline.
These conclusions can be drawn looking at the data from the annual salary survey of marketing professionals conducted by marketing and design industry talent agency Aquent in partnership with the American Marketing Association (AMA).
This year’s survey polled 5,298 marketing professionals, from senior level executives to entry-level marketers, across a variety of industries. The average study participant holds more than 10 years’ experience, although precisely 50% were less than 40 years old.
As with any salary survey, a representative sample does not reflect all opportunities across all combinations of geography, seniority and job function. Social Times looked at the data using the website’s easy-to-use interface and found:
- Those who defined their job role as marketing-business analytics reported higher total compensation than those who said they were in web analytics.
- Those who defined their job role as brand/product management reported higher total compensation than those who said they were in advertising management.
- Median compensation for those with senior level positions was approximately three times that of those in entry level jobs. The step from entry level to mid level was reported to b proportionally greater than from management level to senior level.
- Among the cities that offer the highest median total compensation across all job roles and seniority levels are New York, San Francisco, Rochester, Stamford (CT) and Boston.
- Among the cities that offer the lowest median total compensation across all job roles and seniority levels are San Antonio, Pittsburgh, Tampa, Nashville and Richmond.
More than half of the respondents (53%) saw their salary increase in 2010 compared to the previous year, and 76% of those said their organizations did not initiate a salary freeze in 2010, compared to 47% in 2009.
The report discusses compensation and benefits trends, professional development and marketing budgets, along with providing insights into how the industry is shifting. The survey found that 80% of respondents will increase the use of social media in their marketing initiatives in 2010 with a move away from traditional media vehicles like newspapers, radio and magazines, facilitating a need for marketers to continually update their skills.
While there is guarded optimism among marketers, since they are seeing a slight increase rise in compensation and budgets in 2010, only 16% of respondents strongly agreed they have the necessary staff to meet the organization’s marketing goals.
“Many marketers have started to expand their organization’s capacity by bringing on contract resources ranging from Senior Brand Managers to Data Analytics experts,”said Tracy Sinclair, Aquent’s Marketing Practice Leader. “Our hope is that, as budgets increase, more marketing leaders will be able to take advantage of contract staffing strategies to compensate forthe reduced permanent headcount they’ve been working under for some time now.”