When people say we live in interesting times, it’s usually a euphemism for uncertain or worrying. So you could say that the results of this year’s B2B Marketing Salary Survey will be very interesting indeed.
That salaries are down across almost all levels of seniority will be of concern to many. With inflation pushing up food and fuel costs and national pay growth slowing to 2.2%, marketers are likely to feel the pinch over the next 12 months as their take-home salaries start to feel lighter in real terms.
But there are still plenty of positives. Despite the fall in average values, B2B marketers remain well remunerated, with wages roughly commensurate with those on offer in other professions. This mixed picture is probably one reason why the majority expressed general satisfaction with their jobs, even though they’re being paid less than they think they should be.
Money isn’t everything of course – even if it was the most important consideration for our respondents when looking for a new role. It’s fascinating to see health screening topping the list of benefits that marketers rate as important but don’t currently receive; perhaps a reflection of the growing importance many of us now place on our wellbeing.
In addition, marketers also want to make sure they’re keeping their minds active. There’s surely a correlation between the fact 30% have had no training in the past 12 months, and the fact sponsorship of educational qualifications is the second most desired yet not received benefit. There’s also a strong financial incentive for professional development; holding a marketing qualification can boost your pay packet by a massive £5000.
Unfortunately, the survey once again highlights the disparity in earnings between men and women, particularly at the top of the profession. And it’s getting worse.
Falling pay, lack of career development, additional working hours, and the perception that they’re underpaid has left many B2B marketers feeling like the grass may be greener elsewhere, with more than half anticipating looking for a new role this year.
But there may be further positive news on that front, with trade body the Recruitment & Employment Confederation’s latest Jobs Outlook revealing that more than half of employers anticipate a shortage of candidates for permanent roles, with more than a fifth planning to take on more staff in the next 12 months.
With the interesting economic and political situation looking set to continue over the next 12 months, B2B marketers seeking a new challenge may well reap the rewards of a change in role.
