Top marketers expect salary increase finds CMO study
Over two-thirds (70 per cent) of top marketers received a salary increase or bonus in 2011, despite the ongoing economic gloom, with over 73 per cent expecting a similar increase this year according to a study.
The Chief Marketing Officer (CMO) Council’s State of Marketing 2012 report found 77 per cent earn a base salary of between $100,000 to $349,000, while 42 per cent anticipate a bonus. Another possible 31 per cent expect a bonus based on performance.
The global study, which polled the body’s 6,000-strong membership, also found that nearly 60 per cent of correspondents expect to make an agency change this year with social, web design and PR firms topping the list of those expected to be cut.
Correspondents reported a “lack of innovation” and “value-added thinking” as the primary reasons for their anticipated switch in agencies.
Meanwhile, over 50 per cent of marketers increased their budgets this year according to the study in contrast to 22 per cent who saw budget reductions. Some 24 percent have had no change in spend since 2011.
This global survey compares starkly with the latest IPA Bellwether study of UK marketers which found that marketing budgets were cut for the last two consecutive quarters as companies kept a tight rein on spending.
The poll of senior marketers from 300 companies found almost a quarter of those polled (23 per cent) revised budgets down in the three months to 30 September, compared with the 18 per cent setting them higher.
The 2012 Marketing Week/Ball & Hoolahan Salary Survey, published in January, found that 53% of marketers expected their teams to be restructured in year ahead. The latest version of which is still being polled and can be accessed here and will be published on January 17, 2013.