The fall in average salaries has hit both mid- and senior-level marketers, although graduates that have found employment in the sector have seen an improvement compared with recent years.
Marketing directors’ average salaries fell 3.1 per cent to £75,345 in 2012 compared with £77,799 12 months before. Insight, brand and product managers have also seen salaries fall.
Average salaries were driven down by a 3.6 per cent drop in salaries for the top 10 per cent of earners, which fell to £96,997 on average, down from £99,639 a year ago. Men in this group continue to earn more than women, with male marketing directors earning up to £10,000 on average more than women in equivalent roles.
The gender gap is more stark for marketing managers but average salaries appear to be equal for men and women in head of digital roles.
Average graduate salaries have increased 5.2 per cent to £22,574.
More than half of marketers (60 per cent) received no pay rise at all in the last year, or an increase of less than 3 per cent. A quarter of marketers expect no pay rise in the coming 12 months
Of those that did see an increase in pay, the average was a 4.4 per cent rise.
Marketing directors working on financial services, telecoms or FMCG brands continue to earn more on average than those working in the charity and publishing sectors, according to the survey.
Fewer marketers than last year expect their department to be restructured in the coming year, although almost half (49 per cent) anticipate some changes as firms look to adapt to new demands and ways of working.
The online survey was conducted online in November 2012 by Marketing Week and analysed by Fusion Communications. There were 3,153 respondents.
This year we’re launching an online tool that will allow you to input your age, job, title, sector, gender and salary to find out where you sit versus the average.
Check back on Wednesday to see where you are amongst your peers.
Read the full analysis in this week’s issue (17 January) or online from Wednesday (16 January).