Marketers to get big bonuses
If you're reading this, you are most probably a marketer. And because you are a marketer, this will probably be the best news you come across today… you are in demand and you should be getting a raise!
With demand for marketing professionals rising over the last 12 months, and predictions that this growth will continue over the next year , marketers are likely to see salaries increase in aid of staff retention, according to a forecast by Michael Page, a global recruitment agency.
The 'Michael Page 2011/12 Salary and Employment Forecast' surveyed 104 hiring managers on marketing roles and found this trend in increased demand for marketers is a result of developing revenue generating capacities and requiring marketers to help support business expansion. In particular, marketers with skills in digital and online channels are in high demand as businesses look to strengthening their traditional marketing methods. Marketers with experience in strategy management across international markets are also sought after, as more local firms look for overseas growth.
With limited marketing professionals in the market and a shortage of specialist skills, especially digital expertise, the forecast predicts that more employers will be increasing salaries to retain staff. While the average wage raise for marketers is expecting to increase by 3 to 4% of base salaries, professionals with skills in online, digital and product development can expect up to a 14% boost in their pay.
However, in order to secure that much-anticipated bonus, marketers must look to developing excellent teamwork skills and be willing to put in the extra hours. 76% of employers will be looking to award bonuses based on a combination of individual, team and company performance, while only 10% are looking to award solely on individual performance. The forecast also predicted that 66% of marketers should expect to work an average of at least 40 hours each week.
Simon Meyer, national director for Michael Page tells Marketing: "Marketers need to demonstrate a return on investment because the marketing function has become far more commercial since the GFC. While marketing professionals in Australia have always been proficient at the execution and tracking of spend, companies are far more cost conscious now and there is significant pressure to show commercial return".
Currently, Michael Page forecasts the average salary range of the following positions:
· Senior marketing manager for a large consumer goods company based in NSW – $126,000 to $158,000 per annum
· Marketing director for a small/medium media and entertainment company based in Victoria – $140,000 to $175,000 per annum
· Business unit manager for a large healthcare company based in Queensland – $183,000 to $207,000 per annum
A more detailed report is available at http://www.michaelpage.com.au/ContentArticle/page/8157.html