Recruitment firm Hays has released its annual salary report. The findings show that a significant 83 percent of marketers will earn a pay increase next financial year.
Making headlines across the country in the last 12 months is the rather shaky job market. As businesses cut down teams and budgets all over, it became a job seekers market. And, with this shift, the demands have also changed. Businesses who want to keep good talent will be paying for it.
The top five marketing skills in demand are:
- Marketing managers
- Product managers
- Communications managers
- Digital marketing managers
- eCommerce managers
Many marketing professionals have stated that they are underpaid. Thirty three percent of employers have improved the benefits and working practices to keep the team. The top three benefits that are being used to incentivise are: 20 days’ annual leave, training, and ongoing learning & development.
During the height of COVID, many employees changed contracts to be temporary or full-time to ensure long term company safety. However, 65 percent of marketing employees are intending to increase permanent staff levels.
For the marketers themselves, 83 percent have said there is a demand for their skills. With this in mind, the professionals are looking for remuneration compensation inline with the demand for their skillset.
Over half (53 percent) say the skills shortage has made them more confident to ask for a pay rise and 53 per cent have already benefited from the skills shortage through a salary increase, new job or both.
Only 31 percent of respondents are satisfied with the current salary. Meanwhile, an uncompetitive salary is the top factor motivating 57 percent of job searches. It ranks ahead of a lack of incentives.