This year’s pay increases for marketing professionals are lower than predicted and are set to continue dropping over the next 12 months.
According to the latest Marketing Rewards survey drawn up in partnership with the Chartered Institute of Marketing (CIM), the average pay rise is 4.5 per cent, slightly lower than the five per cent forecast in September last year.
The trend appears to reflect the economic slowdown, with predicted pay awards expected to drop to four per cent. Related trends also include a dramatic drop in the number of marketing managers receiving a company car, from 80 per cent to 50 per cent.
The report also found a difference in pay between sectors. Of the 26,000 members that the CIM surveyed, those working for e-commerce companies were paid significantly higher salaries. Senior marketing managers can expect to receive average earnings of about £54,250 compared with £47,000 in traditional companies.
The industry has seen a broadening pay gap between male and female senior managers, rising from 6.6 per cent to 13.8 per cent. But at a marketing director level, the gap has narrowed slightly since last year.
In response to questions over job satisfaction, only six per cent of marketing professionals consider their pay below the market rate compared with 36 per cent last year.