Marketing bosses at top law firms paid almost £500,000

Marketers looking for higher salaries should consider heading to law firms after a report showed that marketing bosses at the top London law firms are paid almost £500,000.

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The research, conducted by marketing recruitment consultant Carter Murray, found that at the top 20 biggest law firms marketing heads earn a base salary of between £170,000 and £345,000, with bonuses hitting up to £132,000. Across the top 60 biggest law firms, the lowest salary was £88,000.

This compares favourably to average for the profession, with Marketing Week’s annual salary survey finding that marketing directors at top brands earn an average of £86,165. Those in the automotive, alcohol and TV sectors were the best paid.

The survey was sent to the top 60 law firms, with 58 per cent replying and a skew towards the bigger companies. Almost half of respondents received no pay rise last year (43.48 per cent) but 72.7 per cent are confident of receiving one this year.

More than two-thirds (67 per cent) of respondents joined from a legal background, while 12 per cent previously worked in banking and another 12 per cent in accountancy. Research, agency and the FMCG sector all accounted for 3 per cent of legal marketing chiefs.

Almost all (95.45 per cent) of the top marketers at law firms are involved in the company’s strategy. However, it is bad news for marketers wanting to become a partner with none of the marketing heads questioned having been made partner and none expecting to within the next three to five years.

Just three of the companies said their marketing boss is paid on a similar level to a junior equity partner.

Marketers are more likely to report into a managing partner than any other exec, at 64 per cent. Some 18 per cent report into the chief operating officer while 12 per cent report directly to the chief executive.

Those in business development and communications at the top 10 law firms earn between £80,000 and £163,000 with a bonus of up to £80,000. While this is less than their marketing counterparts, it is still a higher average than the marketers surveyed for Marketing Week’s annual survey.

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Tom Fishburne

Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne See more of the Marketoonist here.

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