As part of our Marketing Salary Survey 2017 which took place at the beginning of this year, we asked hundreds of marketers the question ‘Do you feel that you are underpaid?’. The results were rather disappointing, with 59% of marketing professionals feeling as though they were not being paid adequately.
Despite 53% of respondents telling us that they had received a salary increase in the last 12 months; clearly these increases were not substantial enough, with marketers still feeling like they’re not being paid what they deserve.
Following on from this, we also asked marketing professionals whether they would feel comfortable asking their current employer for a pay rise. The results found that only 46% would, with most marketers admitting to not feeling comfortable about asking for a salary increase from their boss.
Regardless of the results of our salary survey revealing that average salaries have increased in almost 60% of the marketing job disciplines in our survey since last year; evidently marketers are still unhappy when it comes to pay, yet would not feel comfortable asking for more.
Some good news is that our Marketing Salary Survey 2017 found that more marketers now feel as though their organisation values the marketing function in comparison to the same time last year. Our 2016 survey showed that 58% felt that their company valued the function, this figure has now gone up to 62%, which is great to see.
With the current economic uncertainty, and the candidate-led market within the marketing industry, our advice for employers for the rest of 2017 and coming into 2018 is to really focus on employee retention. This includes making sure salary and subsequent benefits structures are in line with the rest of the industry to avoid losing a strong marketer, just because you’re not willing to pay them the ‘going rate’, which they could well be getting elsewhere doing a similar job.
Our soon to be released Marketing Recruitment Review and Salary Survey 2017/2018 will provide both employers and marketers with a useful tool to compare salaries, as well as more interesting statistics and findings from our Marketing Salary Survey.