Marketers fare badly on remuneration
David Woods, August 29, 2008
The pay gap between men and women in the marketing industry has increased, with women earning 18% less than men in this sector compared with 10% last year.
A survey from the Chartered Institute of Marketing and Croner Reward shows that total remuneration for marketers is now lower than that of their colleagues in HR, finance, sales and IT and at junior marketing levels graduates earn 8.2% less than colleagues in other functions.
Average pay for marketers increased by just over 3% since 2007 and is forecast to rise by 3.5% in the year ahead.
Nonetheless 38% of marketing directors received a bonus averaging £13,750 while 27% of junior managers received an average bonus of £1,900.
David Thorp, director of research and information at The Chartered Institute of Marketing, said: "Marketers need to demonstrate the positive value they can bring to their organisation, particularly now the nice decade has ended and economic conditions are tough."