How to boost your pay packet
Andrew Dalglish, director at Circle Research, uses the B2B Marketing Salary Survey to explore what marketers should be doing to get more money
There’s so much more to job satisfaction than money. The happiest marketers find their role stimulating, respect their leader and buy into their employer’s vision (see the 2015 B2B Leaders Report for an in-depth exploration of this).
But money does matter. Of course it does. We all have bills to pay, lifestyles to support and futures to plan for. So if you want to maximise your pay packet, what can you do?
Well, contrary to popular belief, whether you work agency- or clientside seems to make little difference. No, it’s more about what you do with that opportunity. First off, strive to be the best you can possibly be. The most common reason for a pay rise is when performance objectives are met. And investing in your education also seems to pay off. Marketers with an advanced degree like an MSc earn on average £8,000 more than their counterparts with a Bachelor’s degree.
Second, stick with it and climb the ladder. In the first three years in the workplace the average marketer earns £29,000. This rises to £41,000 in years four to five, and by years six to 10 it has doubled to £62,000. But it’s not just about experience, this has to be coupled with promotions. A mid- to senior-level marketer earns twice the salary of a rank-and-file team member.
Third, live in the south-east. With an average salary of £52,000, marketers in this region earn one third more than their peers in the rest of the UK where the average salary is £45,000. But of course, this gain is offset by higher housing and living costs. Fourth, be a man. If you happen to have been born a man, then you can expect an average salary 16 per cent higher than that of your female peers. Although that’s slightly better than the gap across the UK workforce (the ONS estimates this to be 19.2 per cent), it’s still far too high and as an industry we need to stamp it out.
B2B Marketing's Salary Survey 2016-17 is a groundbreaking piece of research, placing B2B marketing salaries under the spotlight. Created in collaboration with Circle Research, the report compares salaries according to job role, gender and industry, and examines the B2B job market. The report is available for free to premium members, and can be purchased by non-members.