RESEARCH NEWS: Marketers’ concerns about their remuneration
Marketing managers in the UK saw a modest growth in their salary in 2010 and the majority felt benefits and bonus’ were too small. This is according to a new research by PM forum.
The fourth annual survey suggested that average salaries for the industry benchmark – marketing managers at UK non-global law firms – increased by 3.6 per cent in 2010. The figure appears to be modest, especially in comparison to North America’s one, where marketers at managerial level received 48 per cent.
Furthermore, 92 per cent of the marketers involved in the survey received benefits, but only 58 per cent got a bonus - compared with 61 per cent in 2009. More respondents said benefits and bonus were worth less than 15 per cent of base salary and 35 per cent considered their firm’s bonus system to be ineffective at encouraging the type of behaviour sought by management.
PM forum's survey also revealed that 25 per cent claimed to be dissatisfied with the way appraisal are carried out at their firms.
When asked about their remuneration, 47 per cent of the respondents said they believe to be paid less than their peers. Only 6 per cent feel that they are paid more.
Professional bodies are seen as the most reliable source of salary data, followed by peers, recruitment consultants, magazine surveys and online job banks. Line managers and HR teams are seen as no more reliable than the office grapevine.