Just one in 10 (10%) of marketeer respondents believe that the financial remuneration they receive from their employer is fair, according to research by Marketing Week in collaboration with Econsultancy, Design Week and Creative Review.
The Marketing Week career and salary survey 2016, which is based on 8,566 responses from professionals who work in the design, marketing, digital and advertising industries, and includes responses from 2,770 marketing professionals, also found that almost half (47%) of marketing professional respondents are not satisfied that their employer provides fair remuneration.
The research also found:
- Almost two-thirds (62%) of marketing board director respondents receive private medical insurance (PMI) as part of their remuneration package, compared to 38% of junior marketing manager respondents.
- More than half (54%) of marketing department manager respondents receive performance-related bonuses, compared to 32% of assistant-level marketer respondents.
- The average salary for respondents is £68,345, down 2.7% on last year (£70,215), and marketing manager respondents’ average salary is £39,156, 3.5% lower than last year.
- The average salary for chief marketing officer (CMO) respondents is down 11% to £125,921.
- The average salary for male respondents is £42,303, compared to £35,005 for women.
- Just over three-quarters (77%) agree that their employer offers a good working environment.
- 39% of respondents work at least five additional hours each week, while 12% regularly do more than 10 extra hours, and only 11% say they do not exceed their contracted daily hours.
Russell Parsons, editor of Marketing Week, said: “The results make for sobering reading. The survey lifts on a discipline where many feel stuck in a rut. Marketing and marketers are suffering from the same headwinds as all in the UK. There is considerable uncertainty in the economy, which means companies have a close eye on costs. This can lead to a pervasive sense of discomfort among employees.
“However, although reality generally falls short of expectations, the survey finds a sizeable number that are happy with their working environment, and that are quietly content with their career progression and opportunities.”